Tiger Finance closed on $17 million in growth financing for an East Coast industrial real estate investment and development firm.
Andrew Cerussi joined Tiger Financial as a managing director. Cerussi is a 20-year veteran of the asset-based lending and financial services industries, having previously worked for Bank of America Merrill Lynch, LaSalle Retail Finance and Wells Fargo Retail Finance.
Tiger Capital Group promoted Gail Glave from director of field financial operations to managing director. Glave began her career with Tiger as an assistant financial analyst at The Nassi Group (Tiger’s predecessor company) in 1997. She was promoted to lead financial analyst in 2003 and director of field financial operations in 2017.
Tiger Finance, a wholly-owned affiliate of Tiger Capital Group closed on a $10 million delay draw term loan to Nu-Steel Trade that provides working capital for growth and acquisition opportunities.
B. Riley Financial’s Great American Group, SB360 Capital Partners and Tiger Capital Group are closing store sales at an additional 17 Sur La Table retail locations.
Retail inventory valuations bounced back quickly in May and June as Americans responded to retail re-openings by hunting for bargains at liquidation sales, according to Tiger Capital Group executives.
In response to the COVID-19 pandemic, Tiger Group’s valuation services division issued risk assessment guidance for asset-based lenders on 29 consumer goods categories, noting that fashion apparel, fashion accessories and footwear were the riskiest categories.
In the fifth episode of ABF Journal’s COVID-19-focused podcast series, Dan Kane of Tiger Capital Group explained why junior debt and mezzanine lending is scary right now, where ABL lenders are focused and how Tiger is relying more on data and experience for appraisals.
With acquisition financing provided by Tiger Capital Group, the brand-investment platform Go Global Retail has completed its purchase of digitally native fashion retailer ModCloth from Walmart Stores.