Key Takeaways
- • WhiteHawk Capital Partners, LP launched in 2020 as a private credit manager providing asset-based financing mainly to middle market companies needing liquidity and growth capital, according to a Business Wire announcement dated January 27, 2021.
- • Managing Partners John Ahn, Robert Louzan and Harry Chung, formerly of Great American Capital Partners (GACP, a division of B. Riley Financial), lead the firm alongside a 10-member investment team.
- • Since 2015, the WhiteHawk team has sourced and underwritten 45 investments with transaction value exceeding $2.7 billion.
- • WhiteHawk has entered a strategic relationship with Los Angeles-based First Pacific Advisors (FPA), which manages approximately $26 billion across multiple strategies and provides operational, compliance and business development support.
- • The firm's institutional investors include pensions, family offices, insurance companies and asset managers, and it continues to manage two funds from its predecessor firm.
Summary
WhiteHawk Capital Partners, LP, a Los Angeles-based private credit investment manager, has launched with a focus on asset-based financing solutions for primarily middle market companies in need of liquidity and growth capital, according to a Business Wire announcement. The firm was launched in 2020 and is led by Managing Partners John Ahn, Robert Louzan and Harry Chung, who were previously at Great American Capital Partners (GACP), a division of B. Riley Financial. The managing partners are joined by a 10-member investment team, which the firm says ensures continuity in its established investment process.
The firm sources, underwrites and lends to public and private companies. It aims to deliver investors a high level of current income and total return, along with attractive risk-adjusted returns that the firm describes as counter-cyclical and having low correlation to public credit and equity markets. WhiteHawk's institutional investors include pensions, family offices, insurance companies and asset managers. Since 2015, the team has sourced and underwritten 45 investments representing transaction value exceeding $2.7 billion. The firm continues to manage two funds from its predecessor firm.
WhiteHawk said the COVID-19 pandemic has created a robust investment pipeline, as market dislocations have made banks more reluctant to lend to companies in transition. To pursue these opportunities, the firm has entered a strategic relationship with First Pacific Advisors, LP (FPA). As of December 31, 2020, FPA managed approximately $26 billion across multiple strategies, and is independently owned with 84 employees, including 26 investment professionals. FPA provides operational, compliance and business development support, allowing the WhiteHawk team to focus on sourcing, underwriting, monitoring and exiting loans.
John Ahn, WhiteHawk's managing partner, said the firm believes its repeatable, high-conviction underwriting process will generate attractive returns regardless of the economic environment or borrowing base performance. FPA Managing Partner Steven Romick said the FPA team has known the WhiteHawk principals for over a decade and described the strategy as high value-added and differentiated.
The firm sources, underwrites and lends to public and private companies. It aims to deliver investors a high level of current income and total return, along with attractive risk-adjusted returns that the firm describes as counter-cyclical and having low correlation to public credit and equity markets. WhiteHawk's institutional investors include pensions, family offices, insurance companies and asset managers. Since 2015, the team has sourced and underwritten 45 investments representing transaction value exceeding $2.7 billion. The firm continues to manage two funds from its predecessor firm.
WhiteHawk said the COVID-19 pandemic has created a robust investment pipeline, as market dislocations have made banks more reluctant to lend to companies in transition. To pursue these opportunities, the firm has entered a strategic relationship with First Pacific Advisors, LP (FPA). As of December 31, 2020, FPA managed approximately $26 billion across multiple strategies, and is independently owned with 84 employees, including 26 investment professionals. FPA provides operational, compliance and business development support, allowing the WhiteHawk team to focus on sourcing, underwriting, monitoring and exiting loans.
John Ahn, WhiteHawk's managing partner, said the firm believes its repeatable, high-conviction underwriting process will generate attractive returns regardless of the economic environment or borrowing base performance. FPA Managing Partner Steven Romick said the FPA team has known the WhiteHawk principals for over a decade and described the strategy as high value-added and differentiated.
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