New midmarket lender Legacy launches with Bain Capital Credit investment

• Griffith’s recent roles include serving as a senior managing director and head of GE Capital’s structured finance business
• The founding leadership team includes Chief Investment Officer Paul Martin and Chief Operating Officer Lawrence Ridgway
• Bain Capital Credit has approximately $43 billion in assets under management

New middle-market lender Legacy Corporate Lending has launched with a significant investment from Bain Capital Credit. No financial terms were disclosed.

Based in the Dallas-Fort Worth area, Legacy will provide revolving credit facilities and term loans ranging in size from $10 million to $40 million to companies in industries that seek to access capital outside of traditional bank lending or the syndicated lending market.

Legacy Corporate Lending is led by CEO Clark Griffith. Griffith’s recent roles include serving as a senior managing director and head of GE Capital’s structured finance business. The founding leadership team includes Chief Investment Officer Paul Martin and Chief Operating Officer Lawrence Ridgway.

Martin has co-founded several ABL companies while Ridgway joins Legacy from Citizens Commercial Banking where he served as a senior vice president, covering ABL clients.

“We are fortunate to be partnering with such a talented and experienced leadership team who shares our conviction about the need for quality ABL offerings to serve this market, and the growth opportunities that lie ahead,” said Thomas Kolinski, a partner at Bain Capital Credit, in a statement. “As seasoned industry veterans, Legacy’s executive team is uniquely positioned to address the complex needs of middle market borrowers and to do so with the speed, certainty, and execution that today’s fast paced market demands.”

Bain Capital Credit has approximately $43 billion in assets under management.