A syndicate of lenders, including funds managed by BlackRock’s U.S. private capital group, Oaktree Capital Management and UBS O’Connor provided a five-year term loan totaling $175 million for Velocity Financial, a provider of small balance investor loans.
Oaktree Capital Management delivered a $250 million debt investment for Ocwen Financial, a non-bank mortgage servicer and originator. Barclays and Credit Suisse acted as placement agents to Ocwen.
Encina Lender Finance and Sterling National Bank provided a senior credit facility to iBorrow, a national private commercial real estate lender. Oaktree Capital Management also made a direct investment in the company.
Oaktree Capital Management provided a $200 million senior secured term loan to Ashford Hospitality Trust. The term loan can be upsized by $150 million to an aggregate amount of $350 million.
Runway Growth funded three loans and other investments during Q3/20, including a $40 million senior secured term loan commitment to new portfolio company, Porch.com.
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.
QuadPay, a U.S.-based payment installment platform, has secured a senior secured committed revolving line of credit of up to $200 million from Goldman Sachs, with mezzanine financing provided by Oaktree Capital.
EducationDynamics has raised $80 million from WhiteHorse Capital Management to finance the acquisition of Thruline Marketing assets from Oaktree Capital Management. The company also raised $12.5 million from Encina Business Credit in the form of a revolving credit facility.
Fortress Biotech entered into a $60 million loan agreement with funds managed by Oaktree Capital Management. Fortress Biotech expects to use the proceeds from the five-year loan to refinance existing indebtedness.
ACRES Capital acquired Exantas Capital’s management agreement from an affiliate of C-III Capital Partners. Exantas Capital also entered into definitive agreements with MassMutual and Oaktree for new capital commitments aggregating up to $375 million.