Yet Another Mid-Market Lender Steps Up to Fill the Void

The bad news is that it’s difficult for middle market companies to secure financing. The good news is that plenty of firms recognize the situation as an opportunity.

Amalgamated Bank is the latest to do so. The company is preparing to launch a leveraged lending arm, peHUB has learned.

The group, called Amalgamated Capital, will provide senior loans and one-stop financing to lower middle market companies with Ebitda under than $15 million. Amalgamated Capital will target sponsor-backed deals. The group is headed by Timothy Clifford and includes Sean McKeever. Clifford was formerly the head of Churchill Financial’s Boston office; McKeever was a senior vice president at Churchill.

In February, Churchill Financial laid off around one third of its staff, mostly in the origination department.

The firm lost McKeever, and Clifford, as well as Kevin Murray, Chicago-based managing director, and Casey Zmijeski, a Managing Director responsible for originating and underwriting middle market loans. Earlier this month, Fifth Street Finance announced it hired Zmijeski as a managing director.’

Update: Here a list of the seven new sources of deal finance.

Previously:

Who’s Filling The Senior Loan Void? It’s Your Friendly Regional Bank

THL Raising $300 Million For Blind Pool Credit IPO

ACAS Alums Form New Mezz Fund: Boathouse Capital

CastleGuard Partners Wants To Revive Middle Market Lending

Freeport Financial Empties Ship

Heads Keep Rolling at Mid-Market Lenders