Sector developments and company hires

BDC merger

Golub Capital BDC (GBDC) has merged with Golub Capital Investment Corporation (GCIC), with GBDC as the surviving company, subject to certain stockholder approvals and customary closing conditions. The combined company will remain externally managed by GC Advisors and all current GBDC officers and directors will remain in their current roles. The transaction is expected to close 1H19 and, following the merger, GBDC is expected to be the fourth-largest externally managed, publicly traded business development company by assets, with US$3.5bn of assets at fair value and investments in 203 portfolio companies as of 30 September 2018. The boards of directors of both GBDC and GCIC have approved the transaction with the participation throughout by, and the unanimous support of, their respective independent directors.

P2P approval

Zopa has officially received a banking licence making the platform the world’s first combined P2P lender and digital bank, according to the firm. The company states that when it fully launches, it will offer FSCS-protected savings accounts and credit cards, alongside its personal loans and P2P investment products, including its IFISA.

US

Hitachi Capital America has hired Todd Glickstern as director of originations within the structured finance department. Prior to this he was at GE Capital for 33 years working within equipment financing.

Nomura Securities has hired Florian Bita as md and head of CLO origination and syndication, based in New York. Prior to joining Nomura, Bita was head of CLO trading at RBC.

Walker & Dunlop has hired Nicole Brickhouse as vp in its debt and structured finance group, working out of the firm’s Bethesda office. Prior to joining Walker & Dunlop, Brickhouse was director at HFF.