Crystal Financial has launched as a new commercial finance company that will originate and underwrite secured term loans of up to $150 million. It has received an undisclosed amount of private equity funding from Soros Fund Management.
Crystal Financial, a new commercial finance company originating, underwriting and managing secured term loans up to $150 million per transaction, announced today that it has launched and that a private investment fund managed by Soros Fund Management LLC has invested in Crystal Financial, providing strategic support to the newly formed company.
Terms of the transaction were not disclosed. Crystal Financial is one of the larger companies able to meet the market’s growing need for corporate loans and financing solutions.
Ward K. Mooney, Chief Executive Officer of Crystal Financial, stated: “We are extremely pleased to bring our team to our new platform, Crystal Financial, and reenter the market with an exclusive focus on providing corporate loans. Many private and public companies today are facing complex financial challenges that require the expertise of a specialist who can structure lending solutions to meet their needs. Our exceptional team, which has been together for over 15 years, has loaned over $20 billion to companies in a wide variety of industries during that time. We look forward to continuing our heritage as a world-class provider of debt capital as we partner with leading financial institutions who want a highly reliable and responsive lender to support their clients’ long-term financial and strategic goals.”
SSP Offshore LLC (“SSP”), the fund investing in Crystal Financial, focuses on capital-intensive start-ups, buyouts and growth equity transactions. SSP seeks to acquire world-class assets that can generate strong and growing cash flows.
Commenting on the investment by SSP, Mr. Mooney stated: “We are thrilled to have the confidence and support of Soros Fund Management, particularly given their expertise helping innovative financial services companies achieve their long-term objectives. Their significant investment in Crystal Financial underscores the opportunity we see in the middle market, and we look forward to working with the talented Soros team in the years ahead.”
About Crystal Financial
Crystal Financial is a commercial finance company which originates, underwrites and manages secured term loans up to $150 million per transaction. Crystal Financial’s seasoned team of debt-structuring experts have made over $20 billion in loans to companies across a wide array of industries. For additional information about Crystal Financial, please visit www.crystalfinancialllc.com.