Brean Capital closes $50 million financing deal

By William Gullotti

Buffalo, N.Y., Sept. 23 – Brean Capital, LLC closed a $50 million senior note financing deal, according to a press release Thursday.

According to the announcement, the financing arrangement was provided by a prominent domestic institutional investor and assigned a BBB+ rating from a nationally recognized ratings organization. Neither party was disclosed.

Proceeds from the issuance will be used to finance growth and for general working capital purposes.

“This financing increases our financial flexibility, helps fund our continued growth and allows us to better serve our institutional clients in a broader array of asset classes and markets,” said Rob Fine, Brean Capital chief executive officer.

Brean is a New-York based investment bank and asset management firm.

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