BOSTON, Nov. 11, 2010 (GLOBE NEWSWIRE) -- NewStar Financial, Inc. (Nasdaq:NEWS) announced today that it has hired veteran banker Jeff Kilrea as a Managing Director in its Chicago office. Kilrea will join Managing Director Thad Johnson to lead NewStar's regional marketing activities with responsibility for generating new financing opportunities with mid-sized companies, private equity firms and other investors in the middle market.
Mr. Kilrea has 25 years of experience originating and structuring debt financings for middle market companies backed by private equity firms. Prior to joining NewStar, Mr. Kilrea was a Managing Director and Co-President of CapitalSource's Corporate Finance Group, where he was responsible for, among other things, all new business development activities involving private equity firms and intermediaries. In that role, Mr. Kilrea managed a business development team and maintained individual coverage responsibilities in addition to supporting joint calling initiatives with his team. Previously, Mr. Kilrea worked for Heller Financial Inc., and FINOVA Capital Corporation.
"I am very excited to join an established team with such depth and experience in middle market lending," said Kilrea. "I am looking forward to helping NewStar build on its established direct origination franchise as we broaden our coverage of private equity firms and intermediaries in these key markets."
"Jeff is well known in the marketplace. We have worked together on deals for years and I respect his ability to deliver reliable results for his customers," said David Dobies, Head of Middle Market Origination for NewStar. "I am excited to have him join us. He and Thad give us a strong presence in the Chicago market to cover mid-sized companies and financial sponsors located predominantly in the Midwest."
"We are pleased to add a banker of Jeff's caliber to our team in Chicago to enhance our coverage of key markets in the Midwest," said Tim Conway, NewStar's Chief Executive Officer. "He has valuable credit and transaction execution experience combined with a sophisticated view of the markets. Adding Jeff to our direct lending franchise reinforces our position in the marketplace as a reliable partner at a time when we are increasing our activity across the country," Conway added.
| Mr. Jeff Kilrea |
| 101 North Wacker Drive |
| Suite 607 |
| Chicago, IL 60606 |
| P 312.525.8138 |
| jkilrea@newstarfin.com |
About NewStar Financial, Inc.:
NewStar Financial (Nasdaq:NEWS) is a specialized commercial finance company focused on meeting the complex financing needs of companies and private investors in the middle markets. The Company specializes in providing a range of senior secured debt financing options to mid-sized companies to fund working capital, growth strategies, acquisitions and recapitalizations, as well as, equipment purchases. NewStar originates loans and leases directly through teams of experienced, senior bankers and marketing officers organized around key industry and market segments. The Company targets hold positions of up to $20 million and will selectively underwrite or arrange larger transactions for syndication to other lenders. NewStar offers asset-based loans through its wholly-owned subsidiary, CORE Business Credit. NewStar is headquartered in Boston MA and has regional offices in Darien CT, Chicago IL, Dallas TX, Los Angeles CA, Atlanta GA, and Houston TX. For more detailed information about our product capabilities, as well as, recent transaction and contact information, please visit our website at www.newstarfin.com.
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