Northbase Finance secures $300M facility from Oaktree
Oaktree has $224B in assets under management as of March 31
Northbase Finance closed a revolving credit facility with Oaktree Capital Management that will provide up to $300 million in financing capacity to support the continued growth of its North American equipment finance platform.
The facility, provided through Oaktree’s asset-backed finance strategy, will support transactions involving critical operating assets across power generation, compression, energy infrastructure and industrial markets in the United States and Canada, according to today’s Northbase release.
Calgary, Alberta-based Northbase offers leases, rentals, progress-payment financing, sale-leaseback arrangements and other asset-backed structures to equipment operators, manufacturers, providers, sponsors and financial intermediaries, according to the release. The company’s managed portfolio has grown more than 100% year over year as of the release date amid increased demand for flexible financing alternatives.
The additional capacity will allow Northbase to support larger transactions, longer financing terms and a broader range of equipment types, according to the release. The company focuses on financing new and in-field equipment that may not fit within traditional bank, captive finance or rental company programs because of transaction size, structure or complexity.
Los Angeles-based Oaktree believes Northbase’s sector expertise, underwriting approach and servicing platform position the company to address growing demand for customized equipment finance solutions, according to the release.
New York-based Cantor Fitzgerald served as sole placement agent and sole structuring adviser to Northbase, according to the release. Atlanta-based Alston & Bird served as legal counsel.
Oaktree had $224 billion in assets under management as of March 31, 2026.
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