NewStar Financial, Inc.
News and overview for NewStar Financial, Inc.
Axeda Raises $9 Million from JMI Equity and MMV Financial [Press Release]
PRNewswire | 28 days 11 hours 48 minutes ago
...www.jmiequity.com MMV Financial is a Toronto-based specialty...Canadian private equity firms and financial institutions including CCP Equity...du Quebec, HSBC Bank Canada, NewStar Financial Inc., ROI Capital, and Wells Fargo...
UPDATE 1-NewStar Financial posts Q3 loss, cuts jobs
Reuters | 19 days 15 hours 26 minutes ago
Nov 4 (Reuters) - Commercial finance company NewStar Financial Inc (NEWS.O) posted a third-quarter loss, hurt by a more than two-fold jump in provision for credit losses, and said it reduced headcount during the period to control costs. The company, a provider of debt financing solutions to middle-market businesses and commercial real estate borrowers, said it reduced headcount to 66 from 82 shortly after quarter end and expects to save about $1.5 million annually.
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Wall Street Journal, The | 38 days 10 hours 32 minutes ago
Rick Hendrix believes that middle-market investment banks have an unprecedented chance to snatch up private equity business as the industry slowly ramps back up.
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Company Overview
| Company: | NewStar Financial, Inc. |
|---|---|
| Industry: | Commercial Lending |
| Website: | http://www.newstarfin.com |
Midsized companies can get the loans they need from NewStar Financial. The company provides a variety of loans (primarily senior debt) for refinancing, acquisitions, consolidations, and commercial real estate purchases (primarily office and multifamily residential). Other areas of focus include structured products for specialty finance companies. It serves clients in industries including retail, consumer products, media, and business services; customers include TIDI Products, Oak Street Financial , and Excelligence Learning Corporation. The company has offices in California, Connecticut, Illinois, Massachusetts, and South Carolina. NewStar has applied to convert to a commercial bank holding company.
Key Numbers
| Sales in U.S. Dollars (mil.) | 121.5 (2008) |
|---|---|
| One-year % Growth in Sales | 82.9 (2008) |
| Net Income in U.S. Dollars (mil.) | 22.4 (2008) |
| One-year % Growth in Net Income | 0.0 (2008) |
| Number of Employees | 94 (2008) |
| One-year % Growth in Number of Employees | -28.8 (2008) |
| Fiscal Year-End | December |