Non-Bank Lenders Must Navigate Late-Inning Financing Environment
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Non-Bank Lenders Must Navigate Late-Inning Financing Environment
By Peter Sherman, Chief Risk Officer & Randall Fontes and Casey Swercheck, Directors, Capitala Group
This article addresses certain financing topics from the perspective of a non-bank cash flow lender in the lower middle market segment, referencing companies with EBITDA of less than $30 million. The article explores some key issues for cash flow lenders in today’s late-cycle environment...
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Casey Swercheck is a director of Capitala Investment Advisors in Fort Lauderdale, Florida. He joined the firm in 2013. Previously, he worked for Hamilton Lane Advisors, where he focused on the investment activities of the Florida Growth Fund and was a member of that firm’s fund investment team. Swercheck holds a bachelor’s degree in finance from the University of Pittsburgh.
Randall Fontes is a director of Capitala Investment Advisors in Atlanta. He joined the firm in 2013. Previously, Fontes was co-founder of a finance company formed in partnership with a $55 billion asset manager focused on middle-market debt and equity investments. Before that, he was a director with Cortview Securities LLC and a principal with Atalaya Capital Management LP. He holds a bachelor’s degree in Economics from Tulane University and an MBA from The Fuqua School of Business at Duke University.
Peter Sherman is chief risk officer of Capitala Group and serves on the firm’s investment committee of select strategies. He oversees the assessment and management of risk within the firm’s credit and equity portfolios. Before joining the firm full-time this year, Sherman served in a regular consultative and advisory role for the investment committee and underwriting and portfolio management teams through his firm, Sherman Capital Management. He holds an MBA from The Wharton School, University of Pennsylvania, and a bachelor’s degree from The University of New Orleans.
