The specialty finance unit of First Citizens Bank’s asset-based lending (ABL) business upsized by $100 million its existing financing for WhiteHawk Fund IV and WhiteHawk Evergreen Fund. The latest financing brings the total facility size to $300 million.
Both funds are managed by WhiteHawk Capital Partners, which sources and structures asset-based loans for private and public companies. These credit facilities leverage the funds’ existing portfolios and provide capital for future growth.
“By right-sizing the credit facilities, we’ve aligned our capital with the current pace of deployment and portfolio needs, strengthening our ability to execute our direct lending and asset-based strategy,” Robert Louzan, managing partner of WhiteHawk Capital Partners, said. “We are excited to continue our relationship with First Citizens Bank and appreciate their expertise and commitment in organizing the expanded financing for these funds.”
Chris Esposito, managing director and group head for First Citizens’ ABL business, said, “WhiteHawk has a strong track record in providing asset-based financing to select borrowers. We were pleased to collaborate again and right-size these facilities to best support WhiteHawk’s objectives while providing flexibility for future opportunities.”
