NewStar Financial said to be exploring sale: report
(Reuters) - NewStar Financial Inc (NEWS.O), a commercial finance company backed by private-equity firms Corsair Capital LLC and Capital Z Partners Management LLC, is exploring a sale, Bloomberg reported, citing people with knowledge of the matter.
Shares of the company closed up 13 percent on the Nasdaq at $17.76 on Wednesday.
Boston-based NewStar Financial, which provides debt financing solutions to middle-market businesses and commercial real estate borrowers, is working with Credit Suisse Group AG to solicit offers, Bloomberg said, citing a source. (link.reuters.com/mac33v)
NewStar Financial and Credit Suisse could not be immediately reached for comments by Reuters.
(Reporting By Neha Dimri in Bangalore; Editing by Bernard Orr)
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