Ares Administration’s different credit score funds have launched Ansley Park Capital, an gear finance firm.
Ansley Park’s administration workforce and working platform have been acquired from different funding supervisor BciCapital and the gear finance enterprise of regional financial institution Metropolis Nationwide Financial institution of Florida.
The brand new agency will supply versatile equipment-based capital options starting from $5m (£3.9m) to over $100m to a variety of industries, together with manufacturing, rail, building, marine, infrastructure, power, healthcare and company air journey.
Learn extra: Ares strikes particular alternatives technique into credit score group
Ares Different Credit score funds have dedicated roughly $400m in preliminary fairness capital to help originations, which the workforce expects to be in extra of $3bn.
Ansley Park is being led by three business executives who beforehand held senior roles at BciCapital.
Eric Miller – who was chief government of BciCapital – will function president and chief government of Ansley Park.
Learn extra: Ares highlights $1.5tn infrastructure debt alternative
Mark Trollinger has been named as chief funding officer and head of capital markets. He has over 40 years of expertise in banking and gear finance and has held varied senior positions throughout underwriting, portfolio and asset administration, structuring and advertising. He most not too long ago served as chief funding officer and head of capital markets at BciCapital.
Robert Seltzer has been appointed as Ansley Park’s government vp, head of direct originations. He beforehand held the position of chief business officer at BciCapital.
“We’re excited to launch Ansley Park along with this proficient and skilled workforce,” stated Joel Holsinger, companion and co-head of Ares Different Credit score. “The gear finance panorama is quickly evolving, and the workforce’s deep business experience throughout a variety of asset lessons will allow Ansley Park to successfully deploy capital crucial to supporting the financing wants of firms driving the U.S. financial system.
Learn extra: Ares Capital hails “robust credit score outcomes” in 2023 financials
“Along with direct financing originations, Ansley Park is uniquely positioned to companion with banks in executing capital markets transactions, purchase gear finance portfolios, develop structured circulate applications and design equipment-focused steadiness sheet optimization and capital aid options.”
Ares’ different credit score technique has round $33.9bn in property underneath administration. The workforce seeks alternatives in specialty finance, lender finance, mortgage portfolios, gear leasing, structured merchandise, web lease, money circulate streams similar to royalties, and different asset-focused investments.
