Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
ThinkAdvisor

Technology > Investment Platforms

TWG Capital Executes $100 Millions Financing with Fifth Third Bank, MidAmerica Bank, Cardinal Growth, and Stark Investments

X
Your article was successfully shared with the contacts you provided.

TWG Capital, Indianapolis, has announced it has entered into a $100 million financing with Fifth Third Bank, MidAmerica Bank, a group led by Cardinal Growth, L.P., and Stark Investments. The financing includes a new asset securitization facility arranged by Fifth Third Bank and $6 million in equity capital from Stark Investments.

“This is an extraordinary milestone for our company,” said TWG Founder Jim Wallace. “We’ve come a long way over the past several years, and we believe our relationships with such established financial partners are evidence of that success.”

President Melanie Otto agrees. “This facility is a testament to our growth and ability to generate capital transactions,” said Otto. “In this increasingly competitive market, we need to improve our ability to place capital efficiently, delivering more value to our customers and capital partners. This new facility is essential to that mission.”

In addition to providing a debt facility to expand originations, TWG also received an equity investment from Stark Investments to fund the Company’s growth initiatives including expanding company infrastructure and technology enhancements.

“We understand the insurance industry and know the value we provide to our clients,” said TWG Capital CFO Mark Nondorf. “The Stark equity investment allows us to enhance our capital structure and utilize our available collateral to make infrastructure improvements so that we can continue to lead the marketplace.

“We provide a unique service that’s two-fold–we give agents freedom from debt, and we give our carrier partners an undeniable edge for recruitment, policy sales, and retention,” says Otto. “Demand for our products and services remains strong, and our growth reflects that demand.”


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.