Dime Adds Fund Finance Banking Vertical
Dime Community Bancshares (NASDAQ: DCOM) has announced the launch of a new fund finance vertical as part of its growth strategy. The company has appointed Michael Watts, former Senior Vice President at East West Bank, as Group Leader and Head of Fund Finance. Based in Manhattan, the new vertical will provide customized fund-level financing to the private equity industry.
This expansion follows Dime's successful establishment of Healthcare and Not-for-Profit verticals. The bank reported significant growth in Business loans, exceeding $450 million for the twelve-month period ended March 31, 2025. The Fund Finance vertical is expected to contribute to future growth once operational.
Dime Community Bancshares (NASDAQ: DCOM) ha annunciato il lancio di un nuovo settore dedicato al finanziamento di fondi, nell'ambito della sua strategia di crescita. La società ha nominato Michael Watts, ex Senior Vice President presso East West Bank, come Group Leader e Responsabile del Fund Finance. Con sede a Manhattan, questa nuova divisione offrirà finanziamenti personalizzati a livello di fondo per il settore del private equity.
Questa espansione segue il successo di Dime nell'istituzione dei settori Healthcare e Not-for-Profit. La banca ha registrato una crescita significativa nei prestiti alle imprese, superando i 450 milioni di dollari nel periodo di dodici mesi terminato il 31 marzo 2025. Si prevede che il settore Fund Finance contribuirà alla crescita futura una volta operativo.
Dime Community Bancshares (NASDAQ: DCOM) ha anunciado el lanzamiento de una nueva vertical de financiamiento de fondos como parte de su estrategia de crecimiento. La compañía ha nombrado a Michael Watts, ex Vicepresidente Senior en East West Bank, como Líder de Grupo y Jefe de Financiamiento de Fondos. Con sede en Manhattan, esta nueva vertical ofrecerá financiamiento personalizado a nivel de fondos para la industria de capital privado.
Esta expansión sigue al exitoso establecimiento por parte de Dime de las verticales de Salud y Sin Fines de Lucro. El banco reportó un crecimiento significativo en préstamos comerciales, superando los 450 millones de dólares en el período de doce meses finalizado el 31 de marzo de 2025. Se espera que la vertical de Financiamiento de Fondos contribuya al crecimiento futuro una vez que esté operativa.
Dime Community Bancshares (NASDAQ: DCOM)는 성장 전략의 일환으로 새로운 펀드 금융 부문을 출범했다고 발표했습니다. 이 회사는 East West Bank의 전 수석 부사장인 Michael Watts를 그룹 리더 겸 펀드 금융 책임자로 임명했습니다. 맨해튼에 기반을 둔 이 새로운 부문은 사모펀드 산업에 맞춤형 펀드 레벨 금융 서비스를 제공할 예정입니다.
이번 확장은 Dime이 헬스케어 및 비영리 부문을 성공적으로 구축한 데 이은 것입니다. 은행은 2025년 3월 31일 종료된 12개월 동안 기업 대출이 4억 5천만 달러를 초과하는 상당한 성장을 보고했습니다. 펀드 금융 부문은 운영이 시작되면 향후 성장에 기여할 것으로 예상됩니다.
Dime Community Bancshares (NASDAQ : DCOM) a annoncé le lancement d'une nouvelle verticale de financement de fonds dans le cadre de sa stratégie de croissance. La société a nommé Michael Watts, ancien vice-président senior chez East West Bank, en tant que chef de groupe et responsable du financement des fonds. Basée à Manhattan, cette nouvelle verticale offrira un financement personnalisé au niveau des fonds pour l'industrie du capital-investissement.
Cette expansion fait suite à l'établissement réussi des verticales Santé et Associations à but non lucratif par Dime. La banque a signalé une croissance significative des prêts aux entreprises, dépassant 450 millions de dollars sur la période de douze mois se terminant le 31 mars 2025. La verticale Financement des Fonds devrait contribuer à la croissance future une fois opérationnelle.
Dime Community Bancshares (NASDAQ: DCOM) hat im Rahmen seiner Wachstumsstrategie die Einführung einer neuen Fund-Finance-Sparte bekanntgegeben. Das Unternehmen hat Michael Watts, ehemaliger Senior Vice President bei East West Bank, als Gruppenleiter und Leiter Fund Finance ernannt. Mit Sitz in Manhattan wird die neue Sparte maßgeschneiderte Finanzierungen auf Fondsebene für die Private-Equity-Branche anbieten.
Diese Expansion folgt auf die erfolgreiche Etablierung der Healthcare- und Non-Profit-Segmente von Dime. Die Bank verzeichnete ein erhebliches Wachstum bei Unternehmenskrediten und überstieg im Zwölfmonatszeitraum bis zum 31. März 2025 die Marke von 450 Millionen US-Dollar. Es wird erwartet, dass die Fund-Finance-Sparte nach Aufnahme des Geschäftsbetriebs zum zukünftigen Wachstum beiträgt.
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Insights
Dime's strategic expansion into fund finance diversifies revenue streams, leverages existing commercial momentum, and establishes specialized expertise in private equity financing.
Dime's launch of a dedicated fund finance vertical represents a strategic expansion of their commercial banking capabilities, continuing their pattern of targeted growth through industry specialization. This follows their previously successful vertical buildouts in Healthcare and Not-for-Profit sectors, demonstrating a systematic approach to diversifying their business lines.
The bank has shown strong commercial momentum, with business loans growing by over
By recruiting Michael Watts, an experienced banker from East West Bank, Dime is acquiring the specialized talent necessary to provide customized fund-level financing solutions. Basing this operation in Manhattan strategically places it within a major private equity hub, facilitating relationship-building with potential clients.
This vertical expansion aligns with industry trends where mid-sized regional banks increasingly focus on specialized niches rather than competing directly with larger institutions across all services. The relationship-oriented nature of fund finance typically creates opportunities for additional banking services with private equity firms and their portfolio companies.
For Dime, this represents a calculated move to enhance their competitive positioning through specialized expertise, potentially supporting stronger client relationships and expanded service opportunities throughout the private equity ecosystem.
Dime's entry into fund finance adds another specialized banking option for PE firms, potentially enhancing competition and service quality in this growing niche.
Dime's entry into the fund finance space introduces another specialized banking option for private equity firms seeking tailored financing solutions. This move comes as fund finance continues to gain importance in the private capital markets, with PE firms increasingly utilizing subscription lines, NAV-based facilities, and other specialized products to optimize capital deployment and operations.
The bank's stated intent to provide "bespoke solutions" to private equity firms and portfolio companies suggests a flexible approach rather than standardized products. This customization capability could prove particularly attractive to middle-market private equity firms that may receive less personalized attention from larger financial institutions.
Strategically basing this vertical in Manhattan positions Dime directly within a major private equity hub, facilitating relationship development with potential clients. The appointment of Michael Watts from East West Bank demonstrates Dime's commitment to bringing established expertise rather than building capabilities from scratch.
For private equity firms, having additional banking options for fund-level financing can enhance negotiating leverage and access to competitive terms. The development of specialized verticals by regional banks like Dime represents a broader trend of financial institutions developing deeper expertise in private markets, recognizing the significant growth in private capital and the specialized banking needs this creates.
This expansion follows Dime's
Michael Watts Appointed Group Leader and Head of Fund Finance
HAUPPAUGE, N.Y., May 05, 2025 (GLOBE NEWSWIRE) -- As part of the continued execution of its growth plan, Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the “Company” or “Dime”), the parent company of Dime Community Bank (the “Bank”), announced the launch of a new fund finance vertical. Led by Michael Watts, the Fund Finance vertical will provide customized fund-level financing to the private equity industry and expand Dime's coverage across this ecosystem. Watts, who will be based in Manhattan, was most recently a Senior Vice President at East West Bank.
Stuart H. Lubow, President and Chief Executive Officer of Dime, said, "We are committed to growing our coverage, and position Dime for success, as we respond to the growth in the Fund Finance space. The addition of this vertical is yet another example of targeted strategic investments to expand our commercial expertise and capabilities. For the twelve month period ended March 31, 2025, Dime grew Business loans by over
The expansion into Fund Finance, which follows the previous successful buildouts of a Healthcare vertical and a Not-for-Profit vertical, is part of Dime's recent geographic and vertical expansion. Dime is focused on expanding capabilities and industry-specific coverage expertise by recruiting talented individuals from a variety of financial institutions.
"Dime has strong momentum and is firmly establishing diversification in its business lines. Within the Fund Finance space, there is an opportunity for Dime to help private equity firms and their portfolio companies with bespoke solutions. I’m looking forward to Michael being part of Dime's growth and leading the Bank's efforts in this new vertical," said Tom Geisel, Dime’s Senior Executive Vice President of Commercial Lending.
ABOUT DIME COMMUNITY BANCSHARES, INC.
Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, a New York State-chartered trust company with over
Dime Community Bancshares, Inc.
Investor Relations Contact:
Avinash Reddy
Senior Executive Vice President – Chief Financial Officer
Phone: 718-782-6200; Ext. 5909
Email: avinash.reddy@dime.com
1 Aggregate deposit market share for Kings, Queens, Nassau & Suffolk counties for community banks with less than
FORWARD-LOOKING STATEMENTS
Statements contained in this news release that are not historical facts are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated.
FAQ
What is Dime Community Bank's (DCOM) new fund finance vertical?
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