Wells Fargo boosts loan to Ares Commercial Finance to $450 mln

Wells Fargo Capital Finance, part of Wells Fargo & Co., said Monday it increased a loan to Ares Commercial Finance LP (ACF), which is managed by Ares Management LP, to $450 million from $150 million. ACF recently bought the asset-based lending portfolio of First Capital Holdings Inc. With the transaction, the Ares Commercial Finance platform will have about $700 million of loan commitments.

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