First Citizens Bank announced its Asset-Based Lending business will provide up to $400 million in combined financing to facilitate the investments of WhiteHawk Fund IV and WhiteHawk Evergreen Fund.

Both funds are managed by WhiteHawk Capital Partners, which seeks to earn attractive returns by sourcing and structuring asset-based loans to private and public companies. The credit facilities leverage the funds' existing portfolios and provide capital for future growth.

"We are pleased to continue our relationship with First Citizens Bank. The new credit facilities enhance our ability to continue to execute our direct lending, asset-based strategy for the Fund IV and Evergreen vehicles," said Robert Louzan, Managing Partner of WhiteHawk Capital Partners. "We greatly appreciated the expertise and responsiveness of the First Citizens team in arranging the financing for these funds."

"WhiteHawk Capital is well-known for its success in extending asset-based financing to select borrowers," said Chris Esposito, Managing Director and group head for First Citizens' Asset-Based Lending business. "We were pleased to again collaborate with the WhiteHawk team in arranging these credit facilities and look forward to supporting future opportunities as they arise."

First Citizens Asset-Based Lending business meets clients' working capital needs by offering innovative structures that reduce funding costs and lower operational risks while improving earnings by leveraging accounts receivable, inventory or fixed assets as collateral.