Encina Capital Partners is partnering with Oaktree Capital Management (NYSE: OAK) to launch an asset-based lender (ABL). Encina Business Credit is making loans to middle-market borrowers that cannot obtain traditional bank financing.

Encina Business Credit is the first significant venture of Los Angeles-based Encina Capital, which was founded in 2014 by former Oaktree senior vice president Andrew Salter to form specialized lending and leasing businesses. Los Angeles-based Oaktree has $97 billion under management.

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