Frank Caprio Addresses Global Finance Meeting

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Frank T. Caprio, former General Treasurer of Rhode Island, spoke on Entrepreneurial Finance at the Milken Institute Global Conference on May 4.

Frank Caprio, of Chatham Capital, at the Milken Conference with Maria Bartiromo of CNBC

Frank Caprio, of Chatham Capital, with Maria Bartiromo of CNBC

The new provider of loans to growing companies will be more of a partner and mentor than what we have seen from the old bank lending model.

Frank T. Caprio, former General Treasurer of Rhode Island, spoke on Entrepreneurial Finance at the Milken Institute Global Conference on May 4. Caprio, now managing director at mezzanine finance firm Chatham Capital, discussed the growing importance of non-traditional funding sources to enterprise.

Caprio joined Chatham Capital in February; the Atlanta-based finance firm has loaned $800 million to small and middle-market businesses, producing an average annual return of 17% to its investors over the past ten years. Caprio opened Chatham’s third office in Providence, RI in 2011.

Frank Caprio holds a bachelor’s degree in economics from Harvard University, as well as a JD from Suffolk University Law School, and served as General Treasurer of Rhode Island until early 2011.

“Growing businesses no longer need to turn to bank loans for capital,” Caprio said. In his speech, he stressed that capital has increasingly become available to businesses from many sources, not just from traditional commercial banks. "The new provider of loans to growing companies will be more of a partner and mentor than what we have seen from the old bank lending model."

Other speakers at the Global Conference included Michael Milken, the Institute's founder, commodity trader T. Boone Pickens, hotelier Steve Wynn, and investors Leon Black of Apollo Capital, Jonathan Nelson of Providence Equity Partners, and David Rubenstein of Carlyle Group.

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