and Leasing) provides senior secured asset-based loans as well as Opinions expressed by Forbes Contributors are their own. continue to grow our business in order to better serve the needs of new businesses. ... Gould also served as a Team Leader responsible for underwriting asset based and specialty real estate loans at Merrill Lynch Capital. That new venture, Churchill Asset Management, “seeks to raise investment funds from institutional and qualified individual investors who are increasingly looking toward middle-market senior secured loans as an attractive asset class,” TIAA-CREF said. Antares Capital will expand its product offering in subordinated, or junior debt under new ownership by the Canada Pension Plan Investment Board (CPPIB). GE Capital’s Corporate Finance business (also known as Direct Lending and Leasing) provides senior secured asset-based loans as well as equipment leases and loans to middle-market customers. contracting and others. A similar strategy holds for the Middle Market Growth Program (MMGP), which is a joint venture between affiliates of GE Capital and affiliates of Lone Star Funds, GE said. dealers improve cash flow, reduce risk and grow sales. Please call 0345 070 4299 or write to GE Money Home Lending, PO Box 912, Newport, NP20 9PB. gas, marine, automotive, aerospace, and construction. I wrote about Asia-Pacific credit markets for four years from Hong Kong. All quotes delayed a minimum of 15 minutes. is the trade name of the equipment finance businesses of Wells Fargo Wells Fargo to Acquire GE Capital’s Commercial Distribution Finance and Vendor Finance Businesses, Total assets of approximately $13 billion, Approximately 2,000 Original Equipment Manufacturers (OEM)s and 40,000 Ares has [...], At the recent conference held by IT automation vendor Chef (disclosure, Chef covered my travel and expenses to attend the event), I took the opportunity to speak with Matt Merchant, the Global Managing Director for DevOps at GE Capital. Wells Fargo Equipment Finance Our Standards: The Thomson Reuters Trust Principles. 3 0 obj diversified geographically and by industry, will allow Wells Fargo to Private equity funds managed by Blackstone, Apollo, and KKR are considered contenders. GE on Friday said the sale of the financial assets would take place over the next 18-24 months. The key issues are whether GE will sell its multi-billion sponsor platform to one or several buyers and whether a bank or non-bank will purchase the assets, bankers and investors said. finished durable goods from manufacturers to dealers. “There truly isn’t going to be any void. The transaction is expected to close in the Jim Fowler, the CIO of [...], Ares Capital expects new market opportunities to arise due to the exit of GE Capital from its lending venture, but also sees uncertainty in the near future over the fate of the program. expand Wells Fargo’s current capabilities within its Equipment One of our representatives will be in touch soon to help get you started with your demo. All Rights Reserved. While GE would likely continue lending in areas that support its industrial operations, such as aircraft leasing and energy and health-care financing, the company might dispose of its more general commercial lending operations to middle-market companies if regulators approve such a deal — and if it could get a good price, WSJ wrote. endobj There won’t be any technical changes to the lending agreement because it’s contractually established, but ultimately if we don’t like where it ends up, we’ll move it,” said a CFO of a midsize company who signed a credit agreement with GE Capital in the recent quarter. solutions, GE’s Capital’s Vendor Finance business will significantly conduct business in the global economy. In buying the GE business, CPPIB makes a debut in the U.S. middle market business with a splash. financially. approximately $32 billion as well as businesses employing approximately finance products and deep customer relationships will greatly complement Until now, CPPIB’s focus had been on larger deals.