NewStar Leads Financing for World Insurance Associates

NewStar Financial served as lead arranger and administrative agent for senior credit facilities provided to World Insurance, a specialty insurance broker focused on mid-sized businesses and high net worth individuals.

Fitch: NewStar on Rating Watch Following Acquisition by First Eagle

Fitch Ratings placed NewStar Financial’s Long-Term and Short-Term Issuer Default Ratings ‘BB-‘ and ‘B’, respectively, on rating watch evolving following the announcement that First Eagle Investment Management is acquiring NewStar.

NewStar Acquires Fifth Street Middle Market CLO Business for $16MM

NewStar Financial will add $726 million of managed assets through the acquisition of Fifth Street’s middle market CLP management business. The purchase price is approximately $16 million.

NewStar FY/16 Earnings Up on Sale of ABL, Equipment Finance Assets

NewStar reported 2016 net income of $28.2 million was up from $16.9 million a year earlier aided by $29.2 million in gains on the sale of its asset-based lending and equipment finance businesses.

NewStar Head of Asset Management/Treasury Group Retires

John Frishkopf will retire from NewStar on September 30, 2016. Frishkopf was a founding member of the firm and has served as treasurer and head of the Asset Management group since NewStar’s inception in 2004.

Gain on ABL Sale Boosts NewStar YTD Earnings

NewStar Financial reported year-to-date net income of $9.25 million was up 22.7% compared to $7.54 million a year earlier. The company noted a $22.5 million gain on the sale of its ABL business earlier in the year.

M&A Names NewStar 2015 Lender of the Year

NewStar Financial has been named 2015 Lender of the Year by Mergers & Acquisitions , an independent digital news service and monthly magazine covering all aspects of deal-making in the middle market.

NewStar Hires Midwest Division SVP

NewStar Business Credit hired Arthur A. Pesavento as a senior vice president in its Chicago office. Pesavento has more than 20 years of experience in debt financing for middle market firms.

Citibank Provides $175MM Facility to NewStar

NewStar Financial announced that it has formed a new financing subsidiary, NewStar Warehouse Funding I, which has entered into a $175 million revolving warehouse financing arrangement with Citibank.

NewStar Q1 Earnings Down on Lower Net Interest Income

NewStar Financial reported Q1/15 net income of $2.5 million was down from $6.2 million a year earlier. The company noted net interest income after provision charges of $10.4 million was down from $14.8 million in Q1/14.