Initially Capitalized with $50 million, Finacity Launches New Business to Fund Smaller Securitizations
October 2015 by Finacity
Stamford, CT – October 30, 2015 – Finacity Corporation (“Finacity”) is pleased to announce the formation of Finacity Capital Management (FCM), a new business designed to facilitate efficient processing of trade receivables as well as access to the securitization markets for companies with smaller portfolios of receivables. Magnetar Capital LLC, an investment manager based in Evanston, Illinois with $14.6 billion assets under management, provided strategic capital to FCM. FCM is initially capitalized with $50 million, and will fund transactions in the range of $5 million to $25 million using a simplified securitization structure.
“Finacity is excited to expand our services to accommodate demand from companies to fund smaller receivables securitizations. Companies in the small to midsize sector often find that their trade receivables portfolio is too small to attract attention from traditional funding parties. Finacity’s new capability will therefore give access to small and midsize companies to a much needed financing alternative, quite often at a lower interest cost than conventional loans from commercial banks. We expect to add talent and infrastructure to our team as we ramp up this new business,” said Finacity CEO Adrian Katz.
"Finacity is one of the world's premier independent trade finance companies, and we're pleased to partner with them on this new endeavor," said David Snyderman, Global Head of Fixed Income at Magnetar. "Our partnership with Finacity and our investment in FCM is in keeping with our interest and experience in the trade finance market, which we see as a growth area for the firm."
About Finacity Corporation
Finacity Corporation specializes in the structuring and provision of efficient capital markets receivables funding programs, state-of-the-art servicing, and bond administration. Finacity currently facilitates the financing and administration of approximately $100 billion of receivables annually originated in more than 165 countries. With resources in the USA, Europe and Latin America, Finacity conducts business throughout the world. For more information on our company, please visit www.finacity.com.
For more information, please contact Finacity Corporation:
Adrian Katz, CEO
Tel: (203) 428-3540
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