Fairfield Capital Partners, LLC provides financial advisory, and capital markets services to two market segments:
- Middle-market and highly-leveraged companies (Issuers)
- Mid-sized equipment finance and leasing companies (Investors)
For Issuers, these services are usually in support of raising debt or lease capital to finance the acquisition of revenue-generating equipment. Fairfield Capital enables an issuer to structure more competitive bids–driving down its cost of capital–by:
- using aggressively-structured term sheets that reflect current market conditions;
- attracting a greater number of, and more diverse, types of funding sources;
- providing a sophisticated evaluation of financing proposals with respect to both economic and non-economic terms and conditions;
- assisting in negotiating sometimes complex documentation–knowing where to “push” for favorable terms and conditions; and
- closing multi-party transactions.
For Investors, Fairfield Capital provides syndication services which enable an Investor to:
- add (de novo), expand, or improve an existing syndication capability; and/or
- fund new or existing equipment finance and lease portfolios with limited or non- recourse (in the case of securitization structures) structures.
Fairfield Capital’s services are especially useful for mid-size leasing companies which have increasing needs for portfolio liquidity but do not as yet have the resources to support the fixed-cost of a capital markets capability they require and can benefit from the advice of experienced capital markets professionals.
Fairfield Capital Partners, LLC was founded in 2004 by Dana J. Pasternak, an industry veteran with 30+ years of experience in the equipment leasing, commercial banking, commercial finance and investment banking industries. His experience runs the gamut of skills set—sales, sales management, capital markets, credit (joint approval authority of $5 million) and executive management—required for a successful asset financing business and which he brings to bear on each assignment. You can view a more detailed resume of Mr. Pasternak’s experience and qualifications at http://www.linkedin.com/in/danajpasternak/.
Our technical and engineering backgrounds permit a rapid grasp of an issuer’s unique equipment/facility financing requirements and creditworthiness. This knowledge, accurately communicated, facilitates the underwriting process. We are sensitive to, and respectful of, the motivations and objectives of both Issuers and Investors in achieving a successful financing.
Fairfield Capital is organized under the laws of the state of Florida and maintains offices in Naples, Florida and New York metropolitan areas. Using the latest in communications and technology, and to minimize out-of-pocket expenses, we work as much as possible on a remote basis and only travel when necessary at the request of a client when they pre-approve the expense.
Fairfield Capital can enable your company to “get a better deal” when you are raising debt or lease capital through the judicious design of your term sheet, the careful selection of new and different types of bidders, and the aggressive negotiation of important document provisions that only years of experience can provide.
With decades of experience in sales and sales management, we know every structural technique employed by equipment finance companies to compete for your business or enhance their returns. We can incorporate features in your term sheet to make sure you are receiving the benefit of the lowest-cost structures currently available in the market.
New and More Competitive Sources of Funding
New and different types of Investors (bank-affiliated, commercial and community banks, commercial finance companies, hedge funds, income funds, insurance companies, insurance company affiliates, private investment funds, etc.) are constantly entering and exiting the market depending on their liquidity, need for investment, and alternate forms of investment. Different Investors have different investment parameters depending on the credit strength of the issuer and the collateral type. We know the Investors best suited to provide a highly-competitive package for the specific attributes of your financing.
The negotiability of various terms and conditions ebbs and flows depending on the supply/demand conditions of the equipment finance market at any given time. We make sure the documents reflect the deal you negotiated in the term sheet and aggressively represent your interests.
INVESTORS – SYNDICATION CAPABILITY
A growing equipment finance company has increasing demands for liquidity, and hence syndication capabilities, for many reasons.
- Manage exposures
- Manage liquidity
- Generate cash for reinvestment
- Accelerate income in the form of fees and gains on sale
- Manage tax base in the case of true leases
- Maintain customer relationships where incremental business would otherwise be too large, not fit your niche, or require returns below your hurdle rate and you want to bid for a third party.
Fairfield Capital enables the mid-size equipment finance company the ability to offer sophisticated syndication capabilities, or add to those you already have, without having to incur the high fixed cost of adding to your permanent staff. We enable you to “outsource” all or some of your syndication requirements at a fraction of the cost by working on a success fee basis. We give your business and staff the benefit of our market knowledge gained from many years of service a diverse client base and interacting with numerous institutional investors.
INVESTORS – PORTFOLIO FINANCING
Fairfield Capital’s partners have experiencing in recourse and non-resource financing of equipment lease and loan portfolios as small as $5 million and as large as $100+ million. In the case of smaller portfolios that are structured with limited recourse or with limited guarantees of the seller, or holdbacks, additional collateral, etc., these transactions can be handled as an offshoot of our normal syndications services.
For larger portfolios ($50+ million) or portfolio securitizations, we assemble a team of partners, specialized attorney, trustees and placement agents to execute a strategy for the financing. We work close with your asset management, billing and collections, operations and underwriting staff to make sure we understand how you originate and document your transactions and to make sure that the resulting financing will be something that you can administer without unduly disturbing your existing business model. We will analyze your portfolio, recommend structural alternatives, and assist in the placement of the resulting securities to secure the lowest-cost financing alternative available in the market for your portfolio mix.