Boston, MA October 18, 2005 - NewStar Financial, Inc. ("NewStar"), a Boston-based commercial finance company, announces that it has provided $5 million in asset-backed financing to Strong Capital Funding - 2005, LP (the "Trust"). The Trust holds assets originated and contributed by Strong Capital ("Strong"), an aggregator and servicer of surplus railroad assets. Based in Dallas, Texas, Strong was formed in 2001. NewStar acted as sole lender on the 8-year senior secured loan.
According to Howard Armistead of Strong, "The NewStar team quickly discerned the key points of the transaction and had the capital and flexibility to make this deal work for us."
"We were impressed with Strong's management team and their track record," said Buck Burnaman, managing director and head of structured products at NewStar Financial. "We look forward to conducting additional business with Strong in the future."
NewStar's deal team for the transaction included Tom Calhoun, Samuel Belu-John, Robert Buzdon, and Cyrus Zahedi.
About NewStar Financial, Inc.:
NewStar Financial, Inc. was formed in June 2004 by a group of senior banking and capital markets executives from leading financial institutions, including FleetBoston Financial, Citigroup and JP Morgan Chase, and leading institutional investors including Capital Z Partners, JP Morgan Corsair Capital Partners and Och-Ziff Capital Management Group. NewStar is focused exclusively on providing customized financing solutions to mid-sized borrowers in three lending groups: Middle Market Corporate, Commercial Real Estate, and Structured Products. For more information, please contact the appropriate individual below.
Gaffney Bennett Public Relations