Ares to Buy Loan Portfolio from H.I.G.-backed First Capital
April 20, 2015
Ares Management has announced that a fund managed by its Commercial Finance platform has agreed to acquire the asset-based lending portfolio of First Capital. Backed by H.I.G. Capital since 2010, First Capital is a commercial finance company that provides asset-based loans and factoring to small and middle market companies. Seeking to provide target credit facilities in a range between $1 million and $30 million, the Ares Commercial Finance platform will have approximately $700 million of loan commitments once the transaction closes, which is expected in 2Q.