Ares launches equipment finance company
Ares Management’s alternative credit funds have launched Ansley Park Capital, an equipment finance company.
Ansley Park’s management team and operating platform were acquired from alternative investment manager BciCapital and the equipment finance business of regional bank City National Bank of Florida.
The new firm will offer flexible equipment-based capital solutions ranging from $5m (£3.9m) to over $100m to a wide range of industries, including manufacturing, rail, construction, marine, infrastructure, energy, healthcare and corporate air travel.
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Ares Alternative Credit funds have committed approximately $400m in initial equity capital to support originations, which the team expects to be in excess of $3bn.
Ansley Park is being led by three industry executives who previously held senior roles at BciCapital.
Eric Miller – who was chief executive of BciCapital – will serve as president and chief executive of Ansley Park.
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Mark Trollinger has been named as chief investment officer and head of capital markets. He has over 40 years of experience in banking and equipment finance and has held various senior positions across underwriting, portfolio and asset management, structuring and marketing. He most recently served as chief investment officer and head of capital markets at BciCapital.
Robert Seltzer has been appointed as Ansley Park’s executive vice president, head of direct originations. He previously held the role of chief commercial officer at BciCapital.
“We are excited to launch Ansley Park together with this talented and experienced team,” said Joel Holsinger, partner and co-head of Ares Alternative Credit. “The equipment finance landscape is rapidly evolving, and the team’s deep industry expertise across a wide range of asset classes will enable Ansley Park to effectively deploy capital critical to supporting the financing needs of companies driving the U.S. economy.
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“In addition to direct financing originations, Ansley Park is uniquely positioned to partner with banks in executing capital markets transactions, acquire equipment finance portfolios, develop structured flow programs and design equipment-focused balance sheet optimization and capital relief solutions.”
Ares’ alternative credit strategy has around $33.9bn in assets under management. The team seeks opportunities in specialty finance, lender finance, loan portfolios, equipment leasing, structured products, net lease, cash flow streams such as royalties, and other asset-focused investments.
