NEW YORK - WhiteHorse (NASDAQ:WHF) Finance, Inc. (NASDAQ:WHF), a business development company, announced today the appointment of John P. Volpe as an independent member of its Board of Directors. Volpe, who brings over 25 years of commercial lending experience, will also serve on the company's Nominating and Corporate Governance Committee, Audit Committee, and Compensation Committee.
Volpe's career includes an 18-year tenure at GE Capital, where he most recently held the role of Senior Managing Director, Alternative Funding. In this capacity, he managed a funding structure for asset-based revolving loans, overseeing commitments of approximately $2.9 billion. Volpe is recognized for his capital markets expertise across various asset classes, including senior debt, junior debt, and equity.
WhiteHorse Finance 's CEO Stuart Aronson welcomed John Volpe to the board, highlighting his domain expertise and the value he is expected to bring to the board's strategic guidance. The company, managed by H.I.G. WhiteHorse Advisers, LLC, an affiliate of H.I.G. Capital, LLC, focuses on originating and investing in loans to privately held, lower middle market companies.
H.I.G. Capital is a leading global alternative asset manager with over $60 billion of capital under management, targeting small and mid-cap markets. The appointment of Volpe is seen as a strategic move to bolster WhiteHorse Finance's governance and oversight as it continues to pursue long-term value for its stakeholders.
The information in this article is based on a press release statement from WhiteHorse Finance, Inc. and includes no forward-looking statements. The company has not provided any guidance on the potential impact of Volpe's appointment on its future performance.
InvestingPro Insights
With the recent appointment of John P. Volpe to the board of WhiteHorse Finance, Inc. (NASDAQ:WHF), investors may be curious about the company's current financial health and performance metrics.
According to real-time data from InvestingPro, WhiteHorse Finance's market capitalization stands at a robust $286.12 million. The company's P/E ratio is currently 13.96, which could be an indicator of the market's valuation of the company relative to its earnings.
InvestingPro Tips suggest that WhiteHorse Finance has maintained dividend payments for an impressive 13 consecutive years, which is a testament to the company's commitment to returning value to shareholders.
The company's dividend yield is notably high at 12.48%, potentially making it an attractive option for income-focused investors. Analysts have also revised their earnings upwards for the upcoming period, signaling positive sentiment regarding the company's future financial performance.
It is also worth noting that WhiteHorse Finance has been profitable over the last twelve months as of Q4 2023, with a revenue growth of 17.98% during the same period. This could be a reflection of the company's operational efficiency and its ability to generate income. However, it's important to consider that the valuation implies a poor free cash flow yield, which could impact long-term investment returns.
For those interested in a deeper analysis, InvestingPro offers additional tips on WhiteHorse Finance, and by using the coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With the next earnings date scheduled for May 7, 2024, investors and potential stakeholders may want to keep a close watch on how the company performs in the coming quarter.
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