First Citizens Bank and Sixth Street Form Sixty-First Commercial Finance: A New Platform for Middle Market Capital Equipment Financing
New York, NY, February 5, 2025 – First Citizens Bank and Sixth Street, a global investment firm, have announced the launch of Sixty-First Commercial Finance, a new platform designed to provide flexible capital equipment financing solutions to middle market companies. This joint venture between Sixth Street’s Asset Based Finance platform and First Citizens Bank will be managed by First Citizens Institutional Asset Management, LLC.
A Powerful Partnership
Sixty-First Commercial Finance will leverage the well-established capabilities and expertise of both institutions to provide mid- and large-ticket capital equipment financings ranging from $5 million to $100 million. The platform will offer diverse coverage across equipment asset types and industries, making it an attractive option for businesses seeking financing for their capital equipment needs.
The Impact on Middle Market Companies
For middle market companies, the launch of Sixty-First Commercial Finance represents an opportunity to access flexible and customized financing solutions for their capital equipment needs. With a focus on mid- and large-ticket financings, the platform is well-positioned to support businesses as they invest in the equipment necessary to grow and compete in their industries.
Industry Diversity
Sixty-First Commercial Finance’s diverse coverage across equipment asset types and industries sets it apart from other financing options. The platform will provide financing for a wide range of equipment types, including manufacturing equipment, transportation equipment, and technology assets. This flexibility is essential for middle market companies, which often operate in multiple industries and require financing for various types of equipment throughout their business lifecycle.
Global Reach and Expertise
Sixth Street’s global investment expertise and First Citizens Bank’s deep understanding of the middle market sector will combine to offer businesses a comprehensive financing solution. Sixty-First Commercial Finance’s team of experienced professionals will provide customized financing structures tailored to each business’s unique needs.
The Wider Implications
The launch of Sixty-First Commercial Finance is likely to have a significant impact on the capital equipment financing market. By providing flexible and customized financing solutions to middle market companies, the platform is expected to increase competition in the market and drive innovation in financing structures. This could lead to more businesses having access to the financing they need to invest in capital equipment and grow.
Conclusion
The launch of Sixty-First Commercial Finance represents an exciting development for middle market companies seeking flexible and customized capital equipment financing solutions. By combining the expertise and capabilities of First Citizens Bank and Sixth Street, the platform is well-positioned to offer businesses a comprehensive financing solution tailored to their unique needs. The wider implications of this joint venture are significant, as it is expected to increase competition in the capital equipment financing market and drive innovation in financing structures. As a result, more businesses may have access to the financing they need to invest in capital equipment and grow.
- First Citizens Bank and Sixth Street launch Sixty-First Commercial Finance, a new platform for middle market capital equipment financing
- Platform offers mid- and large-ticket financings ranging from $5 million to $100 million
- Diverse coverage across equipment asset types and industries
- Combines Sixth Street’s global investment expertise and First Citizens Bank’s deep understanding of the middle market sector
- Expected to increase competition in the capital equipment financing market and drive innovation in financing structures
