From Zero to Sixty; Tim Clifford turned Amalgamated Capital into a player in the cash-flowing lending market seemingly overnight.(Cover Story/Rising Stars)(Occupation overview)(Brief article)

Byline: Ken MacFadyen

It was February 2009 when Tim Clifford received the call that his former employer was shutting down its primary origination efforts, at least temporarily. Without any capital left to deploy, he was cut loose and left to fend for himself. Fast forward 18 months, and as 2010 draws to close, Clifford expects to end the year having deployed $150 million of capital across a portfolio of 12 sponsor-backed companies. What a difference a year makes.

Prior to forming Amalgamated Capital, Clifford was a managing director and principal at Churchill Financial, where he oversaw the firm's Boston office.

After Churchill, Clifford wasted little time in trying to get back on his feet. A mid-market lender for two decades, Clifford believes in the category; his goal was to convert others. He initially targeted wealth management firms that may have been looking to diversify. Clifford didn't get discouraged when he encountered little traction. The focus then shifted to the banks.

Within a year, he found a match in Amalgamated, the 87-year-old banking institution with over $5 billion in assets. It's funding comes from FDIC-insured retail deposits, which equates to inexpensive, stable capital. "In this business it's simple," Clifford says, "the secret sauce is your funding."

These days, in the crowds in which Clifford runs, that funding makes for a good conversation starter. Clifford says he's attended every single ACG Capital Connection since the Cleveland event in September, 2009. He's looked at over 550 opportunities and also gone up against larger competitors and won. He cites Amalgamated Capital's role as the lead arranger and administrative agent for a senior secured credit facility backing ICV Capital's acquisition of Mallet. "We won it because we have the underwriting in place, which gave us a competitive advantage," he says. The competitive advantage also lies with a leader whose motor doesn't stop.

From Zero to Sixty; Tim Clifford turned Amalgamated Capital into a player in the cash-flowing lending market seemingly overnight.(Cover Story/Rising Stars)(Occupation overview)(Brief article)

Byline: Ken MacFadyen

It was February 2009 when Tim Clifford received the call that his former employer was shutting down its primary origination efforts, at least temporarily. Without any capital left to deploy, he was cut loose and left to fend for himself. Fast forward 18 months, and as 2010 draws to close, Clifford expects to end the year having deployed $150 million of capital across a portfolio of 12 sponsor-backed companies. What a difference a year makes.

Prior to forming Amalgamated Capital, Clifford was a managing director and principal at Churchill Financial, where he oversaw the firm's Boston office.

After Churchill, Clifford wasted little time in trying to get back on his feet. A mid-market lender for two decades, Clifford believes in the category; his goal was to convert others. He initially targeted wealth management firms that may have been looking to diversify. Clifford didn't get discouraged when he encountered little traction. The focus then shifted to the banks.

Within a year, he found a match in Amalgamated, the 87-year-old banking institution with over $5 billion in assets. It's funding comes from FDIC-insured retail deposits, which equates to inexpensive, stable capital. "In this business it's simple," Clifford says, "the secret sauce is your funding."

These days, in the crowds in which Clifford runs, that funding makes for a good conversation starter. Clifford says he's attended every single ACG Capital Connection since the Cleveland event in September, 2009. He's looked at over 550 opportunities and also gone up against larger competitors and won. He cites Amalgamated Capital's role as the lead arranger and administrative agent for a senior secured credit facility backing ICV Capital's acquisition of Mallet. "We won it because we have the underwriting in place, which gave us a competitive advantage," he says. The competitive advantage also lies with a leader whose motor doesn't stop.