Cortland launches global ABL service

The investment servicing firm has moved into the ABL space as it looks to tap into increasing opportunities for lenders in this niche, but growing market.

Cortland Capital Market Services, a specialist in fund administration, has launched an asset-based lending platform to assist direct lending platforms in the US and Europe in structuring such investment products.

The Chicago-headquartered firm, which has an office in London, will serve funds providing a pure ABL facility as well as funds looking to add an ABL structure to a leveraged loan product on a one-off basis. The platform will serve both bank and non-bank lenders.

Cortland has appointed Ellen Cook to head up the service.

Cook joined the firm in July as a director and has more than three decades of experience in the ABL market. She has worked at MB Financial Bank, Cole Taylor Bank and LaSalle Bank. She is based in the firm’s Chicago office.

“Asset-based lending is an area in which many of our existing and prospective customers would like to participate,” said Joanna Andersen, head of Cortland’s credit services group.