ENCINA PRIVATE CREDIT CLOSES $500MM IN INCREMENTAL CAPITAL COMMITMENTS, HIRES MICHAEL HENSINGER AS PRESIDENT & CHIEF COMMERCIAL OFFICER

Norwalk, CT – July 28, 2022 – Encina Private Credit (“EPC”) announced today a significant expansion to its capital base with $500mm in incremental capital commitments. This capital will enable the platform to scale its first-out, enterprise value loan product in partnership with its growing roster of direct lending partners.

EPC provides the first-out portion of privately negotiated senior credit facilities, which may consist of a combination of revolver, term loan and delayed draw term loan, with a target hold position in the $10 - $50 million size range. By structuring its commitments as “first out” via an intercreditor arrangement known as an “agreement among lenders,” EPC can price its portion of a given credit facility at a compressed yield. This enables the company’s direct lending partners to offer prospective borrowers (both private equity sponsored and non-sponsored companies) a competitively-priced unitranche solution. EPC’s value proposition to direct lenders is its high level of responsiveness and ability to deliver certainty.

Since launching in late 2018, EPC has partnered with 15 direct lenders on transactions across a wide range of industries. The company utilizes an EBITDA-based underwriting approach for traditional cash flow deals and a recurring revenue-based underwriting approach for SaaS-based software companies.

In connection with the significant expansion of its capital base, EPC also announced it has hired Michael Hensinger as its President & Chief Commercial Officer.

Mr. Hensinger will be based out of the company’s headquarters in Norwalk, CT and will report to John Ryan, EPC’s Chief Executive Officer & Chief Risk Officer. In his new role, Mr. Hensinger will be responsible for leading EPC’s business development, syndications and product development efforts.

Mr. Hensinger is a 25+ year veteran of the commercial finance industry, where he most recently served as a senior commercial executive at Synchrony. Prior thereto, he spent 14 years at GE Capital in various commercial roles of increasing responsibility across cash flow lending, asset-based lending and equipment finance. Mr. Hensinger also led a cross-border financing business for GE Capital that provided customized financing solutions to multinational corporations across the globe with team members based in North America, Europe, Asia & Australia. He also worked at TD Bank, FirstLight Financial Corporation and CIT Group.

Mr. Hensinger joins a highly seasoned team comprised primarily of other former GE Capital veterans, including Mr. Ryan, Bob Kennedy (Chief Financial Officer), Eric James (Managing Director, Operations & Compliance), Janani Sharma (Managing Director, Underwriting), Julie Meade (Managing Director, Underwriting), Sandy Hom (Managing Director, Underwriting), Judy Langan (Managing Director, Portfolio Management), David Mattei (Managing Director, Funding Strategy), Tom Burns (Managing Director, Capital Markets), Lisa Huber (Senior VP, Portfolio & Underwriting), Brian Fulton (VP, Operations) and Matt Bernarducci (VP, Portfolio Management).

In addition, the EPC team receives significant support from a talented team of board members and senior advisors who also count themselves as GE Capital alumni, including: Rob McMahon (previously led GE Capital’s Restructuring Finance, Retail Finance and Metals & Mining groups in North America), Paul Bossidy (former CEO of GE Commercial Equipment Financing, which was the world’s largest equipment finance company with approximately $100 billion in assets), William Brasser (previously the Chief Risk Officer at GE Capital, Americas where he was co-head of the credit and risk function for a $90 billion portfolio in North America) and Kevin Burke (former Head of Loan Syndication, Sales and Trading, and Capital Markets at GE Capital and Antares Capital).

In connection with today’s announcements, Mr. Ryan said, “We are extremely grateful to our capital providers for their confidence in our team and our ability to execute on our ambitious business plan. I’m also thrilled to welcome a highly talented and proven executive like Mike Hensinger to our team, and I’m confident he will make significant contributions to our platform in the months and years ahead.”

Mr. Hensinger added, “I’m excited to rejoin many of my former GE Capital colleagues to help build a unique private credit platform that leverages my skill set and experience. I’m looking forward to driving significant growth by expanding EPC’s existing direct lending relationships and developing relationships with new direct lending partners.”

About Encina Private Credit

Encina Private Credit (EPC) provides the first-out portion of privately negotiated senior credit facilities, which may consist of a combination of revolver, term loan and delayed draw term loan. By structuring its commitments as “first out” via an intercreditor arrangement known as an “agreement among lenders,” EPC can price its portion of a given credit facility at a compressed yield. This enables the company’s direct lending partners to offer prospective borrowers (both private equity sponsored and non-sponsored companies) a competitively-priced unitranche solution. EPC’s targets hold positions in the $10 - $50 million size range and is open to transactions across a wide range of industries. EPC utilizes an EBITDA-based underwriting approach for traditional cash flow deals and a recurring revenue-based underwriting approach for SaaS-based software companies. EPC’s value proposition to direct lenders is its high level of responsiveness and ability to deliver certainty. For additional information, please visit EPC’s website at: https://privatecredit.encinacapital.com.