Stonebriar Launches Sponsor Finance Platform; GE Vet Gay to Lead
NOV 13, 2018 - 7:00 am
Stonebriar Commercial Finance announced the formation of its new Sponsor Finance platform. SCF Sponsor Finance will be led by industry veteran, Michael Gay, as executive vice president and senior managing director. Gay will report to SCF’s President and CEO Dave B. Fate.
Since inception, SCF has focused on developing strategic relationships within the private equity community, providing asset-based finance solutions to sponsors and their portfolio companies. Of the approximate $3 billion of large-ticket leases and loans funded by SCF to date, sponsor related deals represent over one third ($1+ billion).
“Sponsors have been a valuable source of new business for SCF and we expect continued robust growth from this strategically important segment of the market,” said Fate. “We have been searching for the right individual to take SCF’s momentum with private equity sponsors to the next level. It is rare to find a seasoned leader like Mike Gay with the knowledge and experience to successfully lead this effort. We are thrilled to have Mike join the SCF team and drive this initiative to better serve our sponsor-related customers going forward.”
“I’m tremendously excited to join Stonebriar and look forward to working directly with P.E. sponsors and their portfolio companies across a wide array of industries,” Gay. “SCF’s unmatched funding capacity and proven ability to deliver large-scale, sophisticated solutions to non-investment grade companies will enable the platform to build upon Stonebriar’s momentum in the Sponsor segment and continue to address the unique needs of private equity-owned companies throughout the US and select foreign jurisdictions. I am excited to become a part of the SCF leadership team and look forward to delivering differentiated solutions to P.E. sponsors and their portfolio companies.”
Gay launched NXT Capital’s Equipment Finance unit which focused on large-ticket equipment financings to both sponsor and non-sponsor backed, non-investment grade corporations. He’s also held various leadership roles at GE Capital and Banc of America Leasing.
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