TRADING SYSTEMS

White Oak Buys Finacity in Flagship Acquisition

White Oak Global Advisors | September 21, 2021

White Oak Global Advisors has completed the acquisition of Finacity Corporation a global leader in working capital and trade finance funding solutions to global businesses.

Finacity originates, structures and places over USD$100 billion in trade finance receivables yearly with over 50 leading financial institutions in asset-backed security structures. Finacity has facilitated transactions for receivables denominated in 58 currencies with obligors in more than 175 countries making it the largest non-bank trade finance platform globally.

The deal will see Adrian Katz remain as Finacity CEO and substantive equity holder, working closely with the leadership of White Oak Global Advisors. With this acquisition White Oak and its affiliates will have over 215 professionals focused on asset-based lending offering trade receivables securitization and a variety of ABL products including invoice discounting, factoring, trade finance, supply chain finance, lender finance and import-export finance.

The acquisition will accelerate White Oak’s drive into the $30 trillion market for asset-based working capital solutions. Finacity will operate as a standalone business but will work closely with White Oak in a number of areas where there are synergies – including White Oak deploying institutional capital on Finacity’s platform.

White Oak is an SEC-registered investment advisor and has over $10 billion in balance sheet assets. It offers over 20 lending products including SME business lending, commercial finance, equipment leasing, structured finance and other specialty lending solutions for the benefit of borrowers.

Finacity is headquartered in Stamford, Connecticut and will be rebranded as White Oak Finacity. White Oak’s interest in acquiring Finacity has been long-standing – dating from before the business’ original sale in 2018.

Andre Hakkak, CEO of White Oak Global Advisors, said: “We are delighted to be welcoming Finacity to the White Oak family. Finacity is a market leader and there are significant synergies between their work and the work we are already doing at White Oak.

“This acquisition further demonstrates White Oak’s commitment to being a leading global player in asset-backed capital solutions which is integral to the functioning of the global economy. In particular, Finacity’s experience in making securitization of accounts receivable and consumer assets less complex and more cost-effective will provide significant advantage to our clients.

“We look forward to working closely with Adrian and the team at Finacity as we embark on this new partnership.”

Adrian Katz, CEO of Finacity Corporation, said:
“Everyone at Finacity is excited to be starting this new chapter of our story as part of White Oak. We have known the leadership at White Oak for a long time and are convinced that this move is absolutely the right one to enable Finacity to thrive.

About White Oak
White Oak Global Advisors, LLC is a leading global alternative asset manager specializing in originating and providing financing solutions to facilitate the growth, refinancing and recapitalization of small and medium enterprises. Since its inception in 2007, White Oak Global Advisors’ disciplined investment process focuses on delivering risk-adjusted investment returns and establishing long term partnerships with our borrowers.

About Finacity
Finacity specializes in the structuring and provision of efficient capital markets receivables funding programs, supplier and payables finance, back-up servicing, and program administration. Finacity currently facilitates the financing and administration of an annual receivables volume of approximately US $100 billion. With resources in the USA, Europe, Latin America and Asia, Finacity conducts business throughout the world with obligors in more than 175 countries.

Spotlight

There is no doubt that AI represents the next wave of computing and will 05 unleash major change in all industries, bringing benefits in all aspects of our lives. For financial institutions, AI represents an opportunity to radically improve efficiency, risk management and fraud detection as well as customer service. But to stay ahead of the AI revolution, financial institutions need to navigate a complex array of AI techniques, possible application areas, cultural challenges and technology decisions, to ensure they lay solid foundations for their AI-driven futures.


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