CapitalSource Appoints Cheryl H. Carner to Lead Expansion of Retail Finance Division

Furniture World Magazine

CapitalSource Finance LLC, a specialty commercial finance firm, announced its plans to expand its Retail Finance division under the new leadership of Cheryl Carner. The Retail Finance division, based in the Boston, MA office, operates within the company's Corporate Finance group, which focuses on providing senior subordinated and mezzanine financing to companies that have strong equity backing and solid fundamentals. "Despite a healthy 2003 -- with more than $200 million in retail lending commitments, there's plenty of room for further growth, and with her years of experience and deep understanding of the industry, Ms. Carner will have an immediate impact in enabling our success," said Joseph A. Kenary Jr., managing director of CapitalSource Finance. "Middle-market retail companies represent an under-served market with a proven history of creditworthiness and a durable value," said Carner. "As traditional lending sources have stopped financing many of these small to mid-sized retail companies, CapitalSource is well positioned to become the recognized leader in financing these businesses." In her new position as National Director of Retail Finance, Ms. Carner will focus on financing opportunities within the retail industry, consumer products and direct/catalog entities, including business development and day-to-day lending activities for the new division. She will also serve as a resource in the development and implementation of marketing strategies for the business unit. Previously, Ms. Carner served as Managing Director for Fleet Retail Group where she led the company's business development efforts, originating and structuring over $2.0B in committed financings. Prior to FRG, Ms. Carner served in various merchandising positions at both T.J. Maxx and Marshalls. Ms. Carner holds a MBA from the F.W. Olin School of Business at Babson College and a BBA from the University ofMassachusetts at Amherst. The CapitalSource Corporate Finance group works closely with private equity sponsors, strategic investors and financial intermediaries to deliver creative and sophisticated financing solutions to middle market companies. The group provides debt capital to facilitate acquisition, leveraged buyouts, growth financing, consolidations, and recapitalizations. To date, The Retail Finance Division has underwritten over $250MM in senior revolvers, senior subordinated debt, term loans and mezzanine facilities. About CapitalSource: CapitalSource (NYSE: CSE) is a specialized commercial finance company offering asset-based, senior, cash flow, and mezzanine financing to small and mid-sized borrowers through three focused lending groups: Corporate Finance, Healthcare Finance, and Structured Finance. By offering a broad array of financial products, CapitalSource has issued more than $4 billion in loan commitments. Headquartered in Chevy Chase Md., CapitalSource has a national network of offices in Atlanta, Boston, Buffalo, Chicago, Dallas, Los Angeles, Nashville, New York, Philadelphia, and San Francisco. The company has more than 280 employees. More information is available at www.capitalsource.com or toll free at 866-876-8723.