The newly formed partnership will provide critical operating equipment to small- and medium-sized businesses in North America
November 28, 2023 – Yieldstreet, a leading private markets investing platform, and Garrington Capital US Corp. (“Garrington”), a leading provider of capital solutions to small- and mid-sized enterprises in the United States and Canada, today announce a new joint venture focused on opportunities in the equipment finance sector.
The joint venture will be managed by Garrington’s equipment finance division, known as Garrington Equipment Finance (“GEF”). GEF provides first-priority, secured loans and sale-leaseback transactions of up to $12 million, with collateral primarily consisting of critical machinery and equipment used by the transportation, agriculture and healthcare sectors. The division focuses on small and middle-market corporate credit and asset-based opportunities that are often ignored by traditional sources of credit, such as banks and larger credit managers.
“Credit strategies are in high demand from Yieldstreet investors given current market conditions. We are pleased to partner with Garrington to provide our members with a compelling opportunity to access this asset class while meeting the needs of small, growing businesses at a time when traditional sources of credit are tightening,” said Barbara Anderson, Head of Private Business Credit, Yieldstreet. “We look forward to leveraging our deep in-house credit experience to secure attractive potential returns for our investors.”
“We are extremely excited about the opportunity to work with Yieldstreet again, allowing us to build an attractive diversified portfolio of equipment loans and leases on behalf of our investors,” said Jordan Allen, Chief Executive Officer of Garrington Capital US Corp. “GEF provides loans to critical, recession-resilient industries and companies, and we believe our partnership is well placed to capitalize on current market trends and our teams’ 100 years of collective experience providing capital to small- and medium-sized enterprises.”
With more than 450,000 members, Yieldstreet is a leading private market investing platform, helping investors diversify their portfolios with alternative assets spanning real estate, private credit, legal finance, art, and more. The platform is differentiated by its ten asset classes, institutional due diligence standards, strong track record, and commitment to a seamless investor experience.
About Garrington Capital
Garrington Capital US Corp. and its affiliates (collectively, “Garrington”) provide creative investment funding solutions ranging from $1 million to $30 million to small- and medium-sized companies throughout the US and Canada. Garrington strives to support entrepreneurial businesses with practical and creative working capital solutions and aims to be the first call when opportunities arise. Our leadership and investment teams are comprised of experienced, well-seasoned and creative investment and finance professionals that share the belief that Garrington is well-positioned to respond to the working capital challenges facing small- and medium-sized enterprises. With headquarters in Toronto and Chicago, as well as offices in Texas and Connecticut, Garrington has approximately 65 employees and has deployed, as both a principal and credit advisor to certain funds, more than $5 billion since inception in 1999.