Inside Gordon Brothers’ equipment finance JV with Davidson Kempner
$1.5B joint venture is backed by Wells Fargo Capital Finance
Global asset management firm Gordon Brothers is expanding its private commercial equipment finance offerings through a joint venture with investment firm Davidson Kempner backed by Wells Fargo Capital Finance.
Gordon Brothers chose Davidson Kempner as a partner for its $1.5 billion joint venture because of the firm’s flexibility, interest in expanding into equipment finance, and trust in the leadership team and business model, Bobby Campbell, senior managing director and head of commercial equipment finance at Gordon Brothers, told Equipment Finance News.
The asset manager sees a strong opportunity in the underserved $1 million to $10 million repeat flow financing market as private credit firms typically focus on $10 million to $50 million deals for efficiency, Campbell said.
“We happen to just always be really good at doing $2 million, $3 million and $4 million deals, and what we’re finding is we’re picking up business from those other private credit shops that want to bring us in as a partner,” he said. “For us, that’s the sweet spot we want to continue to serve.”
Gordon Brothers’ joint venture also expands its capacity to deliver tailored financing solutions for middle-market and large corporate clients across the construction, manufacturing and transportation sectors, Campbell said.
Gordon Brothers launched its commercial equipment finance division for middle-market businesses in February. Through the commercial equipment finance division and the JV, the firm offers loans, capital leases, TRAC and FMV leases to serve commercial companies, independent lessors, captive finance organizations and bank-owned equipment finance groups.
Signature Financial to Gordon Brothers
The partnership between Gordon Brothers and the former Signature Financial and Flagstar Financial team was driven by aligned priorities, with Gordon gaining proven lending expertise and the team gaining a platform of asset experts, creating a timely and well-matched differentiator for consistent, higher-quality financing opportunities, Campbell said.
Following the collapse of Signature Bank in March 2023, New York Community Bank acquired Signature Bank and Signature Financial, through its subsidiary Flagstar Bank, according to a March 20, 2023, Flagstar release. Several members of Signature Financial who joined Flagstar Financial followed Campbell to Gordon Brothers with the launch of its equipment finance division in February 2025.
Meanwhile, several other former Signature Financial members recently joined Peapack Capital under Anthony Perettine, who managed Signature’s and Flagstar’s third-party and vendor finance divisions before becoming senior managing director and president of Peapack Capital on Sept. 12.
A shift toward non-bank financing
Gordon Brothers’ private credit expansion represents the arrival at a long-sought-after destination on its roadmap, reflecting the industry’s shift toward non-bank equipment finance as opportunities grow for teams with strong asset expertise, Campbell said.
New York City-based investment firm Davidson Kempner has over $35 billion assets under management, according to the company. “Gordon Brothers is so established and great on the front end and the back end with regard to valuations and appraisals as well as dispositions and closeouts,” Campbell said. “We come in and we really fit in that healthier credit, consistent opportunity piece that is important and foundational for what Gordon Brothers is continuing to do.”
The continuity and experience of the Gordon Brothers commercial equipment finance makes it a “natural fit” for Wells Fargo, which backed the JV, Stewart Hayes, managing director at Wells Fargo Capital Finance, said in a Sept. 4 Gordon Brothers release.
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