Cortland wins US and European ABL servicing mandate from global direct lender; appoints industry veteran Ellen Cook to lead ABL Servicing operations.
CHICAGO and LONDON, Feb. 28, 2017 /PRNewswire/ -- Cortland Capital Market Services, a Chicago based global investment servicing company, and its wholly owned UK subsidiary, Cortland EMEA Limited, announced the launch of a new global asset-based lending platform. Cortland's ABL Servicing focuses on serving investment managers, commercial lenders and commercial finance companies throughout the United States and Europe. Cortland further announced that industry veteran Ellen Cook will lead ABL Servicing Operations.
"Asset-based lending is an area in which many of our existing and prospective customers would like to participate," said Joanna Anderson, head of Cortland's Credit Services Group. "We have the systems, processes and expertise in place to provide clients a solution to the expensive and time consuming process of building and managing an ABL operations infrastructure."
Anderson added, "We are delighted to have Ellen on board; her three decades of industry experience combined with Cortland's existing servicing model have resulted in a rigorous set of processes and procedures that will benefit our clients." Cook joined Cortland in 2016, following 30 years of experience leading ABL operations at distinguished lenders such as MB Financial, Cole Taylor Bank, and LaSalle Bank.
"As alternative lenders expand capabilities into the ABL space, Cortland is uniquely positioned to service this segment of the market," says Cook. "I'm thrilled to be leading the only non-lender servicing team in the market."
Cortland offers ABL Servicing to active lenders fully engaged in the ABL marketplace as well as alternative lenders wanting to offer a one-off ABL facility to support a unitranche structure or to accommodate an existing borrower relationship. Commercial bank and non-bank lenders that are considering partial or full operations outsourcing will also be important prospects for the Cortland ABL Servicing Platform.
Cortland is a leading global investment servicing company providing third-party and outsourced middle office services to investment managers and commercial lenders globally. Cortland administers over USD 125 billion for clients including credit, private equity and real estate funds, direct lenders, and CLO managers. Cortland is headquartered in Chicago and serves clients worldwide from Austin, Chicago, Hong Kong, Indianapolis, London, Los Angeles, and New York. For information about Cortland, please visit www.cortlandglobal.com.
SOURCE Cortland Capital Market Services