Franklin BSP Lending and Franklin BSP Capital, business development companies advised by affiliates of Benefit Street Partners, acquired substantially all of the equity interests of Encina Equipment Finance.
Encina Business Credit announced a recapitalization and an expanded capital base provided by affiliated funds of Barings along with participation from Encina management. In conjunction with the recapitalization, Encina changed its name to Eclipse Business Capital.
Encina Capital Partners launched Encina Lender Finance, a new independent lender finance platform targeting commercial and consumer specialty finance companies in the U.S. and Canada. Luke Graham and John Thomas will lead the new platform.
Robert McMahon joined Encina Capital Partners as chief operating officer. McMahon previously served as senior managing director of GE Capital’s specialty finance verticals.
Encina Capital Partners and an affiliate of certain funds managed by Oaktree Capital Management launched Encina Equipment Finance, a new independent equipment finance company.