May 16, 2023
Cascadia Capital, one of the nation’s most active independent middle-market investment banks, announced today the formal launch of its Capital Markets Advisory practice and expansion to the Atlanta market with the hiring of Managing Director Carle Felton.
Under Felton’s leadership, Cascadia’s Capital Markets Advisory practice will focus on sourcing flexible debt and equity for the firm’s sponsor and privately held business clients with concentrated expertise and high-touch execution. The firm’s expansion to Atlanta marks its continued geographic growth and anchors Cascadia’s presence in the increasingly active Southeast market.
“The Capital Markets Advisory practice is an important expansion of our sponsor coverage and middle-market company advisory offerings, delivering a competitive, thorough process with outstanding execution while allowing our clients to remain focused on their core opportunities,” said Cascadia Chairman and CEO Michael Butler. “Carle and the growing team in Atlanta will be supported by our deep network of relationships, as well as the differentiated industry expertise brought to the table by the whole of Cascadia’s sector-focused banking team nationwide.”
Felton joins Cascadia from Goldman Sachs Private Credit and Hybrid Capital, where he served as a senior member of the team originating debt and equity investments for middle-market clients. His deep experience on the buyside — investing up and down the balance sheet on sponsored and non-sponsored transactions — uniquely equips him with the tools to serve as a close advisor to Cascadia’s clients throughout the duration of a transaction. Cascadia’s Capital Markets Advisory team will not only be heavily involved in the beginning marketing and term sheet phases, as is standard in the market, but will also remain actively engaged in the negotiation, legal documentation, and closing phases to foster better outcomes for its clients.
“In addition to underpinning debt financing solutions for private equity partners, the Capital Markets Advisory practice will work to support the financing needs of private independent companies, provide innovative combinations of debt and structured equity solutions to enable internal recapitalizations, and aid companies seeking capital for the first time,” added Felton. “I am proud to join the Cascadia team and expand the firm’s presence in Atlanta as well as the Southeast more broadly.”
Prior to Goldman Sachs, Felton held the role of Director in Leveraged Finance at SunTrust Robinson Humphrey (now Truist) and, before that, Vice President of Global Sponsor Finance at General Electric Corporation (now Antares Capital). Felton is a CFA charterholder, a Certified Public Accountant, and earned a Master of Accountancy from the University of Georgia.
“We are thrilled to have Carle’s steady hand at the helm as we grow our Capital Markets Advisory practice, supporting existing and new clients as they navigate an increasingly complex financing environment,” said Cascadia Managing Director Scott Ames, head of the firm’s Financial Sponsors Group. “The strong lender and investor relationships Carle has cultivated over his more than 15 years working with private equity firms and private companies, in combination with Cascadia’s longstanding network and resources, will help ensure certainty of execution and market-best terms on behalf of our clients.”
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