Ares Capital Purchases SSLP Loans, Concludes GE Joint Venture
Ares Capital purchased the remaining loans of the Senior Secured Loan Fund, effectively concluding the joint venture with GE.
Ares Capital purchased the remaining loans of the Senior Secured Loan Fund, effectively concluding the joint venture with GE.
President and CEO of GE Healthcare John Flannery was named Chairman and CEO of GE, replacing retiring Jeff Immelt. Flannery has experience leading elements of GE Capital and GE Equity.
CWB Franchise Finance, previously GE Capital Canada’s franchise finance arm, provided a $12 million term loan and development line of credit to Donnelly Group, owners of 14 pubs and cocktail bars in Vancouver and Toronto.
WhiteHorse Capital hired former GE Chief Credit Officer for Telecom, Media and Technology Kimberly Massa as managing director and Peter McLaughlin as principal.
GE signed an agreement to sell its 43% stake in Hyundai Card (HCC) to Hyundai Commercial, Affinity Equity Partners, GIC and AlpInvest for an aggregate ending net investment (ENI) of approximately $1.3 billion.
General Electric elected CEO and a director of Qualcomm Steven M. Mollenkopf to the company’s board of directors.
Fitch Ratings has affirmed the ‘AA-/F1+’ Long-and Short-Term Issuer Default Ratings for GE and GE Capital Global Holdings following the agreement to combine GE Oil & Gas with Baker Hughes.
Wells Fargo Capital Finance Chairman and CEO Henry Jordan will retire in December. At that time, Wells Fargo Capital Finance, led by Guy Fuchs, will join Wells Fargo Commercial Capital Group.
Wintrust Financial has closed its previously announced acquisition of select loans and related relationships from GE Capital Franchise Finance.
Reuters reported that Moody’s Investors is questioning General Electric’s plan to take on $20 billion of debt.