Financial Services Sector Expertise
The Financial Services sector is a key vertical for National, with a team of banking professionals highly regarded for their deep industry expertise and relationships. Our investment banking activity in this sector mainly includes privately held and publicly traded BDCs, specialty lenders, mortgage REIT’s, investment funds and SPVs focused on equity and debt investments providing competitive yields in a low interest rate environment.
In the past six years, National has led or participated in 100+ transactions including private placements, IPOs, Follow-Ons, CMPOs, RDOs, PIPEs, M&A, and financial advisory.
Financial Services Sector Coverage
National has a robust and diverse coverage of financial institutions companies with a particular focus on Business Development Companies (BDCs) and Registered Investment Companies (RICs).
BDCs in particular have grown in number, size, and popularity as US banks have come under increasing regulatory pressure that has curtailed their lending activities and permitted non-bank lenders to thrive in their place. We believe that through independent portfolio analysis, manager selection, assessment of accounting practices, and an examination of capital management policies, investors can continue to find attractive opportunities in the space.
Capital Southwest (CSWC)
Fidus Investment (FDUS)
FS KKR Capital Corp. (FSK)
FS KKR Capital Corp. II (FSKR)
Gladstone Investment Corp (GAIN)
Horizon Technology Finance Corporation (HRZN)
Main Street Capital Corporation (MAIN)
New Mountain Finance Corporation (NMFC)
Oaktree Specialty Lending Corporation (OCSL)
Saratoga Investment Corp. (SAR)
Stellus Capital Investment Corp (SCM)
StoneCastle Financial Corp. (BANX)
WhiteHorse Finance (WHF)