Of the nearly 4,500 news stories posted to abfjournal.com in 2024, these are the top 10 in order of reader popularity:
- U.S. Bank Realigns Asset-Based Finance Organization: U.S. Bank realigned its asset-based finance organization with the goal of best serving its current clients and meeting the growing demand for asset-based financing products. John Freeman was named head of sales & originations for U.S. Bank Asset-Based Finance.
- How Trump’s Proposed Tariffs Could Reshape the Asset-Based Lending Industry: President-elect Donald Trump’s announcement of sweeping tariffs on Mexico, Canada and China signals a major shift in trade policy that will ripple through industries reliant on global supply chains. With a 25% tariff proposed on goods from Mexico and Canada and an additional 10% tariff on imports from China, asset-based lenders should prepare for the significant economic shifts that could impact their borrowers — and, by extension, their portfolios.
- KeyBank and Blackstone Enter Forward Flow Origination Partnership: KeyBank entered into a forward flow origination partnership with Blackstone Credit & Insurance focused on Key’s specialty finance lending group.
- Blue Owl Expands Alternative Credit and ABF Capabilities with Acquisition of Atalaya: Blue Owl Capital, an alternative asset manager, has entered into a definitive agreement to acquire the business of alternative credit manager Atalaya Capital Management for $450 million. The acquisition is expected to close in H2/24.
- EverBank Launches New Asset-Backed Finance Division: EverBank formed an asset-backed finance division following the merger of its fund finance and specialty and lender finance businesses. This new division will be led by Jeff Johnston, executive vice president, head of asset-backed finance.
- Wells Fargo Provides $1B Sustainability-Linked Asset-Based Facility to Southwire: Wells Fargo Commercial Capital provided an integrated working capital financing solution to Southwire Company, a manufacturer of wire and cable. The capital structure provided by Wells Fargo includes a $1 billion sustainability-linked asset-based facility.
- TIAA Completes Sale of TIAA Bank; Bank Officially Returns to EverBank Brand Name: TIAA completed the sale of TIAA Bank to private investors with experience in financial services and will now officially begin operating once more as EverBank under a new national bank charter.
- BlackRock TCP Capital Makes Changes to Leadership Team: BlackRock TCP Capital made several changes to its leadership team, effective Nov. 6, 2024.
- Rosenthal Acquires Accord Equipment Finance: Rosenthal & Rosenthal, a factoring, asset-based lending, purchase order financing and inventory financing firm in the United States, completed a deal to acquire Accord Equipment Finance’s assets.
- PNC Financial Services and TCW Group Partner to Create Private Credit Platform: PNC Financial Services, a diversified financial institution in the U.S., and the TCW Group, a global asset manager, partnered to deliver private credit solutions to middle market companies.
