Ares Administration Company’s asset based mostly lending unit has introduced the addition of a healthcare-focused group becoming a member of from Huntington Financial institution.
Ares Industrial Finance, the business finance platform of the listed different asset supervisor, offers credit score services as much as $500m to mid-market and decrease mid-market corporations. It sits inside Ares’ credit score group, which had over $349bn of belongings below administration as of 31 December, 2024.
The newly launched healthcare asset based mostly lending platform will probably be led by managing administrators Todd Gordon, Dan Berger and Nathan Brenneman, who’ve labored collectively for greater than 20 years, most lately at Huntington Financial institution. Beforehand they labored at Sector Monetary, which was a subsidiary of Credit score Suisse, in addition to Capital One Financial institution and CapitalSource Finance.
“We’re assured that our group’s healthcare ABL experience, mixed with ACF’s industry-leading direct lending platform, will probably be a welcome resolution to corporations searching for financing within the center market healthcare sector,” Gordon, head of healthcare ABL, commented.
Asset based mostly financing has develop into extra widespread within the final couple of years, with many personal credit score corporations increasing their capabilities within the space. In October, Ares introduced one other enlargement within the area with a three way partnership set as much as fund new automobile leases.
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