First Eagle Private Credit (NEWS) 10-Q 9 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 07, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	NEWS
Entity Registrant Name	NewStar Financial, Inc.
Entity Central Index Key	1,373,561
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Share Outstanding		47,651,095

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Assets:
Cash and cash equivalents	$ 150,657	$ 35,933
Restricted cash	155,346	153,992
Cash collateral on deposit with custodian	19,442	61,081
Investments in debt securities, available-for-sale	89,687	94,177
Loans held-for-sale, net	468,443	478,785
Loans and leases, net (including loans at fair value of $89,244 and $0, respectively)	3,029,315	3,134,072
Interest receivable	13,269	13,932
Property and equipment, net	405	638
Deferred income taxes, net	33,653	33,133
Income tax receivable	6,398	5,342
Goodwill	17,884	17,884
Identified intangible asset, net	822	910
Other assets	22,623	21,504
Total assets	4,007,944	4,051,383
Liabilities:
Credit facilities, net	538,512	832,686
Term debt securitizations, net	2,044,931	1,821,519
Senior notes, net	372,560	372,153
Subordinated notes, net	235,855	209,509
Repurchase agreements, net	94,785	96,224
Accrued interest payable	30,333	18,073
Other liabilities	31,552	41,741
Total liabilities	$ 3,348,528	$ 3,391,905
Stockholders’ equity:
Preferred stock, par value $0.01 per share (5,000,000 shares authorized; no shares outstanding)
Common stock, par value $0.01 per share: Shares authorized: 145,000,000 in 2016 and 2015; Shares outstanding 47,638,653 in 2016 and 46,527,288 in 2015	$ 476	$ 465
Additional paid-in capital	742,962	742,970
Retained earnings	35,362	31,353
Common stock held in treasury, at cost $0.01 par value; 9,342,166 in 2016 and 9,154,548 in 2015	(110,540)	(109,245)
Accumulated other comprehensive loss, net	(8,844)	(6,065)
Total stockholders’ equity	659,416	659,478
Total liabilities and stockholders’ equity	$ 4,007,944	$ 4,051,383

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Statement Of Financial Position [Abstract]
Loans at fair value	$ 89,244	$ 0
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	145,000,000	145,000,000
Common stock, shares outstanding	47,638,653	46,527,288
Treasury stock, par value (in dollars per share)	$ 0.01	$ 0.01
Treasury stock, shares	9,342,166	9,154,548

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net interest income:
Interest income	$ 61,952	$ 39,749
Interest expense	39,433	22,334
Net interest income	22,519	17,415
Provision for credit losses	17,713	6,978
Net interest income after provision for credit losses	4,806	10,437
Non-interest income (loss):
Asset management income	3,441	920
Fee income	1,193	1,158
Realized loss on derivatives	(7)	(9)
Realized loss on sale of loans, net	(107)	(15)
Other miscellaneous income (expense), net	1,850	869
(Loss) gain on total return swap	(6,062)	1,203
Loss on loans held- for- sale	(3,667)
Gain on sale of Business Credit	22,511
Total non-interest income	19,152	4,126
Operating expenses:
Compensation and benefits	10,638	6,733
General and administrative expenses	6,430	3,499
Total operating expenses	17,068	10,232
Income before income taxes	6,890	4,331
Income tax expense	2,881	1,792
Net income	$ 4,009	$ 2,539
Basic Earnings per share	$ 0.09	$ 0.05
Diluted Earnings per share	$ 0.09	$ 0.05

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 4,009	$ 2,539
Other comprehensive income (loss), net of tax:
Net unrealized securities (losses) gains, net of tax (benefit) expense of $(1,899) and $76 respectively	(2,767)	109
Net unrealized derivative losses, net of tax benefit of $(7) and $(22), respectively	(12)	(25)
Other comprehensive (loss) income	(2,779)	84
Comprehensive income	$ 1,230	$ 2,623

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement Of Income And Comprehensive Income [Abstract]
Tax (benefit) expense on unrealized securities (losses) gains	$ (1,899)	$ 76
Tax benefit on unrealized derivative losses	$ (7)	$ (22)

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings (Accumulated Deficit) [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss), Net [Member]	Common Stockholders' Equity [Member]
Beginning Balance at Dec. 31, 2014		$ 466	$ 718,825	$ 14,463	$ (92,724)	$ (33)	$ 640,997
Net income	$ 2,539			2,539			2,539
Other comprehensive income (loss)	84					84	84
Issuance of restricted stock		4	(4)
Shares reacquired from employee transactions					(140)		(140)
Tax benefit from vesting of stock awards			(109)				(109)
Repurchase of common stock		(11)	11		(11,060)		(11,060)
Issuance of warrants			21,766				21,766
Exercise of common stock options		1	1,403				1,404
Tax benefit from exercise of common stock awards			77				77
Amortization of restricted common stock awards			730				730
Ending Balance at Mar. 31, 2015		460	742,699	17,002	(103,924)	51	656,288
Beginning Balance at Dec. 31, 2015	659,478	465	742,970	31,353	(109,245)	(6,065)	659,478
Net income	4,009			4,009			4,009
Other comprehensive income (loss)	(2,779)					(2,779)	(2,779)
Issuance of restricted stock		5	(5)
Shares reacquired from employee transactions		(1)	1		(377)		(377)
Tax benefit from vesting of stock awards			(398)				(398)
Repurchase of common stock		(1)	1		(918)		(918)
Exercise of common stock options		8	(1,815)				(1,807)
Tax benefit from exercise of common stock awards			1,257				1,257
Amortization of restricted common stock awards			951				951
Ending Balance at Mar. 31, 2016	$ 659,416	$ 476	$ 742,962	$ 35,362	$ (110,540)	$ (8,844)	$ 659,416

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net income	$ 4,009	$ 2,539
Adjustments to reconcile net income to net cash used for operations:
Provision for credit losses	17,713	6,978
Depreciation, amortization and accretion	(6,309)	(1,471)
Amortization of debt issuance costs	4,451	3,455
Equity compensation expense	951	730
Gain on sale of Business Credit	(22,511)
Loss on sale of loans	107	15
Loss (gain) on total return swap	6,062	(1,203)
Gain on sale of equipment, net	(222)	(137)
Net change in deferred income taxes	1,376	(2,241)
Loans held-for-sale originated	(76,923)	(68,511)
Proceeds from sale of loans held-for-sale	83,599	119,456
Loss on loans held-for-sale	3,667
Net change in securities available for sale	4,655	(184)
Net change in interest receivable	(780)	(917)
Net change in other assets	(4,450)	(4,385)
Net change in accrued interest payable	12,260	4,080
Net change in accounts payable and other liabilities	(14,086)	26,230
Net cash provided by operating activities	13,569	84,434
Cash flows from investing activities:
Net change in restricted cash	(1,354)	(119,442)
Net change in loans	114,794	(195,818)
Purchase of debt securities, available-for-sale		(32,714)
Proceeds from sale of other real estate owned		185
Acquisition of property and equipment	(7)	(7)
Net cash provided by (used in) investing activities	113,433	(347,796)
Cash flows from financing activities:
Proceeds from exercise of stock options, net	(1,815)	1,403
Tax benefit from exercise of stock options	1,257	77
Tax benefit (expense) from vesting of restricted stock	(398)	(109)
Advances on credit facilities	982,409	488,016
Repayment of borrowings on credit facilities	(1,278,352)	(605,890)
Issuance of term debt	255,750	410,250
Borrowings on term debt	22,100	16,000
Repayment of borrowings on term debt	(52,721)	(46,953)
Borrowing on subordinated notes	24,500
Borrowings on repurchase agreements		27,158
Repayment of borrowings on repurchase agreements	(1,542)	(4,625)
Repayment of corporate debt		(200)
Release (posting) of cash collateral	41,639	(10,107)
Payment of deferred financing costs	(3,810)	(4,825)
Purchase of treasury stock	(1,295)	(11,200)
Net cash (used in) provided by financing activities	(12,278)	258,995
Net increase (decrease) in cash during the period	114,724	(4,367)
Cash and cash equivalents at beginning of period	35,933	33,033
Cash and cash equivalents at end of period	150,657	28,666
Supplemental cash flows information:
Interest paid	23,871	18,254
Taxes paid, net of refund	1,703	$ 891
Transfer of loans, net to loans held-for-sale, at fair value	$ 33,121

Organization

Organization	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Organization	Note 1. Organization NewStar Financial, Inc. is an internally-managed, commercial finance company with specialized lending platforms focused on meeting the complex financing needs of companies and private investors in the middle market. The Company and its wholly owned investment management subsidiary, NewStar Capital LLC, are registered investment advisers and provide asset management services to institutional investors. The Company manages several private credit funds that co-invest in loan origination through its leveraged finance lending platform. Through its wholly owned subsidiary, NewStar Capital, the Company also manages a series of funds structured as CLOs that invest primarily in broadly syndicated loans, as well as other sponsored funds and managed accounts that invest across various asset classes, including broadly syndicated loans, high yield bonds and distressed credits. Through its specialized lending platforms, the Company provides a range of senior secured debt financing options to mid-sized companies to fund working capital, growth strategies, acquisitions and recapitalizations, as well as purchases of equipment and other capital assets. These lending activities require specialized skills and transaction experience, as well as a significant investment in personnel and operating infrastructure. Our loans and leases are originated directly by teams of credit-trained bankers and experienced marketing officers organized around key industry and market segments. These teams represent specialized lending groups that are supported by centralized credit management and operating platforms. This structure enables us to leverage common standards, systems, and industry and professional expertise across multiple businesses. The Company targets its marketing and origination efforts at private equity firms, mid-sized companies, corporate executives, banks, and a variety of other referral sources and financial intermediaries to develop new customer relationships and source lending opportunities. The Company's origination network is national in scope and it targets companies with business operations across a broad range of industry sectors. The Company employs highly experienced bankers, marketing officers and credit professionals to identify and structure new lending opportunities and manage customer relationships. The Company believes that the quality of its professionals, the breadth of their relationships and referral networks, and their ability to develop creative solutions for customers position it to be a valued partner and preferred lender for mid-sized companies and private equity funds with middle market investment strategies. The Company's emphasis on direct origination is an important aspect of its marketing and credit strategy. The Company's national network is designed around specialized origination channels intended to generate a large set of potential lending opportunities. That allows the Company to be highly selective in its credit process and to allocate capital to market segments that we believe represent the most attractive opportunities. The Company's direct origination network also generates proprietary lending opportunities with yield characteristics that we believe would not otherwise be available through intermediaries. In addition, direct origination provides the Company with direct access to management teams and enhances its ability to conduct detailed due diligence and credit analysis of prospective borrowers. It also allows the Company to negotiate transaction terms directly with borrowers and, as a result, advise its customers on financial strategies and capital structures, which it believes benefits its credit performance. The Company typically provides financing commitments to companies in amounts that range in size from $10 million to $50 million. The size of financing commitments depends on various factors, including the type of loan, the credit characteristics of the borrower, the economic characteristics of the loan, and the Company's role in the transaction. The Company also selectively arranges larger transactions that it may retain on its balance sheet or syndicate to other lenders, which may include funds that it manages for third party institutional investors. By syndicating loans to other lenders and the Company's managed funds, it is able to provide larger financing commitments to its customers and generate fee income, while limiting our risk exposure to single borrowers. From time to time, however, the Company's balance sheet exposure to a single borrower exceeds $35 million. Beginning in January 2016, the Company’s operations were divided into two reportable segments that represent its core businesses, Commercial Lending and Asset Management. The Commercial Lending segment provides a range of senior secured flexible debt options to mid-sized companies with annual cash flow (EBITDA) typically between $10 million and $50 million owned by private equity investment funds and managed by established professional alternative asset managers. The Asset Management segment provides opportunities for qualified institutions to invest in a range of credit funds managed by the Company that employ credit-oriented strategies focused on middle market loans and liquid, tradeable credit.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies Basis of Presentation These interim condensed consolidated financial statements include the accounts of the Company and its subsidiaries (collectively, “NewStar”) and have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). All significant intercompany transactions have been eliminated in consolidation. These interim condensed financial statements include adjustments of a normal and recurring nature considered necessary by management to fairly present NewStar’s financial position, results of operations and cash flows. These interim condensed financial statements may not be indicative of financial results for the full year. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosure of contingent assets and liabilities. Actual results could differ from those estimates. The estimates most susceptible to change in the near-term are the Company’s estimates of its (i) allowance for credit losses, (ii) recorded amounts of deferred income taxes, (iii) fair value measurements used to record fair value adjustments to certain financial instruments, (iv) valuation of investments (v) determination of other than temporary impairments and temporary impairments and (vi) impairment of goodwill and identified intangible assets. The interim condensed consolidated financial statements and notes thereto should be read in conjunction with the Company’s Annual Report on Form 10-K, for the year ended December 31, 2015. Prior Period Reclassification Prior period amounts are reclassified wherever necessary to confirm with current period presentation. Consolidation The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries (collectively, “NewStar”) and have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). All significant intercompany transactions have been eliminated in consolidation. Segment Reporting Due to the continued expansion of our asset management activities, through new fund formation and the acquisition of NewStar Capital, the Company reassessed its classification of reporting as a single segment under ASC 280, Segment Reporting Recently Adopted Accounting Standards In April 2015, the FASB issued ASU 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs (in thousands) December 31, 2015 As previously reported under GAAP applicable at the time Deferred financing costs, net 40,733 Credit facilities 843,896 Term debt securitizations, net 1,837,889 Senior notes, net 379,232 Subordinated notes, net 215,018 Repurchase agreements 96,789 As currently reported under ASU 2015-03 Deferred financing costs, net - Credit facilities, net 832,686 Term debt securitizations, net 1,821,519 Senior notes, net 372,153 Subordinated notes, net 209,509 Repurchase agreements, net 96,224 In September 2015, the FASB issued ASU 2015-16, Simplifying the Accounting for Measurement-Period Adjustments in Business Combinations (Topic 805) Recently Issued Accounting Standards In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Recognition and Measurement of Financial Assets and Financial Liabilities (Topic 825-10) In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting (Topic 718). In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) 2017.

Acquisition and Disposition Act

Acquisition and Disposition Activities	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Acquisition and Disposition Activities	Note 3. Acquisition and Disposition Activities Acquisition As previously disclosed, the Company acquired 100% of the outstanding limited liability company interests of Boston-based Feingold O’Keeffe Capital, LLC (“FOC Partners”), a boutique credit manager, in October 2015. The Company now operates FOC Partners as NewStar Capital, a wholly owned subsidiary of the Company. During the three months ended March 31, 2016, the Company completed its purchase price allocations and deemed the difference to be immaterial between the provisional and final purchase price allocations. As the result of facts and circumstances related to the customer contracts and related customer relationships that existed at the acquisition date but were unknown at that date, the Company reassessed the expected economic useful life of these contracts to be approximately 33 months instead of 12 months as originally estimated. Sale of NewStar Business Credit LLC On March 31, 2016, the Company sold NewStar Business Credit LLC (“Business Credit”) to a third party. The Company made the decision to sell Business Credit in order to exit a business with an economic model which was challenged by competition from banks and other lenders with access to lower cost of funding than the Company had through its warehouse lines. The sale resulted in a gain of $22.5 million, before transaction related costs of $2.5 million. The gain is recorded in non-interest income on the accompanying consolidated statement of operations Business Credit contributed a loss of $0.3 million inclusive of the $2.5 million of transaction related costs and $1.9 million in pretax earnings for the three months ended March 31, 2016 and 2015 respectively. The Company performed an analysis of the sale in accordance with the amended guidance specified in ASU 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.

Loans Held-for-Sale, Loans, Lea

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses	3 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses	Note 4. Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses As of March 31, 2016 and December 31, 2015, loans held-for-sale consisted of the following: March 31, 2016 December 31, 2015 ($ in thousands) Leveraged Finance $ 475,383 $ 485,874 Gross loans held-for-sale 475,383 485,874 Deferred loan fees, net (6,940 ) (7,089 ) Total loans held-for-sale, net $ 468,443 $ 478,785 Loans classified as held-for-sale consist primarily of loans originated or purchased by the Company and intended to be sold to third parties (including credit funds managed by the Company). These loans are carried at the lower of either market value or aggregate cost, net of any deferred origination costs or fees. At March 31, 2016, loans held-for-sale include loans with an aggregate outstanding balance of $439.7 million that were intended to be sold to credit funds managed by the Company. The Company sold loans with an aggregate outstanding balance of $48.7 million for a net loss of $0.1 million to entities other than credit funds managed by the Company during the three months ended March 31, 2016. The Company sold loans with an outstanding balance of $4.0 million for a loss of $0.01 million to entities other than credit funds during the three months ended March 31, 2015. As of March 31, 2016, and December 31, 2015, loans and leases consisted of the following: March 31, 2016 December 31, 2015 ($ in thousands) Leveraged Finance $ 2,942,478 $ 2,627,314 Business Credit — 342,281 Real Estate 44,587 100,732 Equipment Finance 175,506 173,253 Gross loans and leases 3,162,571 3,243,580 Deferred loan fees and discount, net (66,388 ) (51,249 ) Allowance for loan and lease losses (66,868 ) (58,259 ) Total loans and leases, net (1) $ 3,029,315 $ 3,134,072 (1) Includes loans at fair value of $89,244 and $0, respectively. During the three months ended March 31, 2016, the Company purchased $138.9 million of loans that were referenced by the total return swap portfolio. The majority of these loans were purchased to fund future CLOs. The purchased loans were recorded at fair value with no initial associated allowance for loan loss. At acquisition, the purchased loans were segregated into three groups: (i) loans to be allocated to credit funds managed by NewStar Capital, (ii) other performing loans, and (iii) one credit impaired loan. Loans purchased by NewStar Capital totaled $89.5 million. The Company elected the fair value option under ASC 825-10 to account for these loans in accordance with the Company’s policy. The election was made on the acquisition date. As a result, changes in fair value of these loans will be reported in non-interest income within the consolidated statement of operations. The Company purchased other performing loans totaling $47.6 million. These loans are accounted for under ASC 310-20. As a result, any premium/discount determined at the date of purchase is amortized/accreted into interest income over the life of the loans. Any acquired loans which exhibit credit deterioration from the date of acquisition will be evaluated for an allowance for loan losses under methods similar to those used for loans originated in the ordinary course of business The Company purchased one credit impaired loan totaling $1.8 million. This loan was accounted for under ASC 310-30. Under ASC 310-30, the excess cash flows expected to be collected over the carrying amount is the accretable yield and is recognized into interest income over the remaining life of the loan. The difference between contractually required payments at acquisition and cash flows expected to be collected, considering the impact of prepayments, is the nonaccretable difference. Any subsequent decrease in the expected principal cash flows will result in a charge to the provision for loan losses and a corresponding increase to the allowance for loan losses. Subsequent increases in expected principal cash flows will result in recovery of any previously recorded allowance for loan losses, to the extent applicable, and a reclassification from nonaccretable difference to accretable yield for any remaining increase, which will result in an increase in interest income over the remaining life of the loan. The following table sets forth the activity relating to the accretable discount for loans purchased. March 31, 2016 December 31, 2015 ($ in thousands) Balance, beginning of the year $ — $ — Purchased loans 2,593 — Accretion of income (24 ) — Reduction due to payments or sale (4 ) — Balance, end of year $ 2,565 $ — During the three months ended March 31, 2016, the Company also recorded an $8.1 million non –accretable discount resulting from the fair value of the credit impaired loan discussed above. The Company internally risk rates loans based on individual credit criteria on at least a quarterly basis. Borrowers provide the Company with financial information on either a quarterly or monthly basis. Loan ratings as well as identification of impaired loans are dynamically updated to reflect changes in borrower condition or profile. A loan is considered to be impaired when it is probable that the Company will be unable to collect all amounts due to it according to the contractual terms of the loan agreement. Impaired loans include all non-accrual loans, loans with partial charge-offs and loans which are troubled debt restructurings (“TDR”). The Company utilizes a number of analytical tools for the purpose of estimating probability of default and loss given default for its three specialized lending groups. The quantitative models employed by the Company in its Leveraged Finance and Equipment Finance businesses utilize Moody’s KMV RiskCalc credit risk model in combination with a proprietary qualitative model, which generates a rating that maps to a probability of default estimate. Real Estate utilizes a proprietary model that has been developed to capture risk characteristics unique to the lending activities in that line of business. The model produces an obligor risk rating which corresponds to a probability of default and also calculates a loss given default. In each case, the probability of default and the loss given default are used to calculate an expected loss for those lending groups. Prior to its sale, Business Credit utilized a proprietary model that produced a rating that corresponded to an expected loss, without calculating a probability of default and loss given default. In each case, the expected loss is the primary component in a formulaic calculation of general reserves attributable to a given loan. Loans and leases which are rated at or better than a specified threshold are typically classified as “Pass”, and loans and leases rated worse than that threshold are typically classified as “Criticized”, a characterization that may apply to impaired loans, including TDR. As of March 31, 2016, $164.6 million of the Company’s loans were classified as “Criticized,” all of which were impaired loans, and $3.0 billion were classified as “Pass”. As of December 31, 2015, $152.1 million of the Company’s loans were classified as “Criticized”, including $143.6 million of the Company’s impaired loans, and $3.1 billion were classified as “Pass”. When the Company rates a loan above a certain risk rating threshold and the loan is deemed to be impaired, the Company will establish a specific allowance, if appropriate, and the loan will be analyzed and may be placed on non-accrual. If the asset deteriorates further, the specific allowance may increase, and ultimately may result in a loss and charge-off. A TDR that performs in accordance with the terms of the restructuring may improve its risk profile over time. While the concessions in terms of pricing or amortization may not have been reversed and further amended to “market” levels, the financial condition of the borrower may improve over time to the point where the rating improves from the “Criticized” classification that was appropriate immediately prior to, or at, restructuring. A loan is considered impaired when it is probable that a creditor will be unable to collect all amounts due according to the contractual terms of the loan agreement. The measurement of impairment of a loan is based upon (i) the present value of expected future cash flows discounted at the loan’s effective interest rate, (ii) the loan’s observable market price, or (iii) the fair value of the collateral if the loan is collateral dependent, depending on the circumstances and our collection strategy. Impaired loans are identified based on the loan-by-loan risk rating process described above. It is the Company’s policy during the reporting period to record a specific provision for credit losses and/or partial or full charge off for all loans for which we have serious doubts as to the ability of the borrowers to comply with the present loan repayment terms. As of March 31, 2016, the Company had impaired loans with a balance of $214.6 million. Included in this balance was one impaired loan retained from the Business Credit portfolio with a balance of $12.5 million, and a specific reserve of $1.1 million. This loan is included in the Leveraged Finance balance at March 31, 2016. Impaired loans with an aggregate outstanding balance of $181.2 million have been restructured and classified as TDR. At March 31, 2016, additional funding commitments for TDRs totaled $6.9 million. As of March 31, 2016, the aggregate carrying value of equity investments in certain of the Company’s borrowers in connection with troubled debt restructurings totaled $10.7 million. Impaired loans with an aggregate outstanding balance of $114.5 million were also on non-accrual status. For impaired loans on non-accrual status, the Company’s policy is to reverse the accrued interest previously recognized as interest income subsequent to the last cash receipt in the current year. The recognition of interest income on the loan only resumes when factors indicating doubtful collection no longer exist and the non-accrual loan payment status has been brought current. During the three months ended March 31, 2016, the Company charged off $6.1 million of non-accruing loan balances. During the three months ended March 31, 2016, the Company placed loans with an aggregate outstanding balance of $5.1 million on non-accrual status. During the three months ended March 31, 2016, the Company recorded $16.6 million of net specific provisions for impaired loans. At March 31, 2016, the Company had a $37.3 million specific allowance for impaired loans with an aggregate outstanding balance of $161.8 million. At March 31, 2016, additional funding commitments for impaired loans totaled $8.9 million. The Company’s obligation to fulfill the additional funding commitments on impaired loans is generally contingent on the borrower’s compliance with the terms of the credit agreement, or if the borrower is not in compliance additional funding commitments may be made at the Company’s discretion. As of March 31, 2016, loans to three borrowers totaling $18.9 million of loans on non-accrual status were greater than 60 days past due and classified as delinquent by the Company. Included in the $37.3 million specific allowance for impaired loans was $1.8 million related to delinquent loans. As of December 31, 2015, the Company had impaired loans with a balance of $193.2 million. At that date, impaired loans with an aggregate outstanding balance of $183.6 million had been restructured and classified as TDR. As of December 31, 2015, the aggregate carrying value of equity investments in certain of the Company’s borrowers in connection with troubled debt restructurings totaled $11.4 million. Impaired loans with an aggregate outstanding balance of $111.3 million were also on non-accrual status. During 2015, the Company charged off $4.0 million of outstanding non-accrual loans. During 2015, the Company placed loans with an aggregate outstanding balance of $38.2 million on non-accrual status and returned loans with an aggregate outstanding balance of $0.9 million to performing status. During 2015, the Company recorded $9.5 million of net specific provisions for impaired loans. At December 31, 2015, the Company had a $26.8 million specific allowance for impaired loans with an aggregate outstanding balance of $121.1 million. At December 31, 2015, additional funding commitments for impaired loans totaled $10.9 million. As of December 31, 2015, loans to three borrowers totaling approximately $18.6 million were on non-accrual status and were greater than 60 days past due and classified as delinquent by the Company. Included in the $26.8 million specific allowance for impaired loans was $2.8 million related to delinquent loans. A summary of impaired loans is as follows: Investment, Net of Charge-offs Investment, Net of Unamortized Discount/Premium Unpaid Principal ($ in thousands) March 31, 2016 Leveraged Finance $ 178,627 $ 163,703 $ 223,739 Real Estate 35,270 35,248 38,616 Equipment Finance 697 645 697 Total $ 214,594 $ 199,596 $ 263,052 December 31, 2015 Leveraged Finance $ 157,446 $ 150,692 $ 188,453 Business Credit — — — Real Estate 34,941 34,915 38,286 Equipment Finance 772 709 772 Total $ 193,159 $ 186,316 $ 227,511 Recorded Investment Related Allowance for Credit Losses Recorded Investment, net, with a Related Allowance for Credit Losses Recorded Investment without a Related Allowance for Credit Losses Recorded Investment, net, without a Related Allowance for Credit Losses ($ in thousands) March 31, 2016 Leveraged Finance $ 133,733 $ 127,004 $ 44,894 $ 36,699 Real Estate 28,058 28,036 7,212 7,212 Equipment Finance — — 697 645 Total $ 161,791 $ 155,040 $ 52,803 $ 44,556 December 31, 2015 Leveraged Finance $ 113,397 $ 106,762 $ 44,049 $ 43,930 Business Credit — — — — Real Estate 7,705 7,705 27,236 27,210 Equipment Finance — — 772 709 Total $ 121,102 $ 114,467 $ 72,057 $ 71,849 During the three months ended March 31, 2016, the Company recorded net charge-offs of $7.3 million and during the three months ended March 31, 2015, the Company recorded net recoveries of $0.1 million. The Company’s policy is to record a specific allowance for an impaired loan to cover the identified impairment of that loan. Based on the Company’s experience any potential charge-off of such loan would occur when any loan loss amount is considered to be confirmed. The Company may record the initial specific allowance related to an impaired loan in the same period as it records a partial charge-off in certain circumstances such as if the terms of a restructured loan are finalized during that period. When a loan is determined to be uncollectible, the specific allowance is charged off, which reduces the gross investment in the loan. While charge-offs of amounts previously reserved have no net impact on the carrying value of net loans and leases, charge-offs lower the level of the allowance for loan and lease losses; and, as a result, reduce the percentage of allowance for loans and leases to total loans and leases, and the percentage of allowance for loan and leases losses to non-performing loans. Below is a summary of the Company’s evaluation of its portfolio and allowance for loan and lease losses by impairment methodology: Leveraged Finance Real Estate Equipment Finance March 31, 2016 Investment Allowance Investment Allowance Investment Allowance ($ in thousands) Collectively evaluated (1) (3) $ 2,674,607 $ 28,144 $ 9,317 $ 47 $ 174,809 $ 1,342 Individually evaluated (2) 178,627 32,960 35,270 4,375 697 — Total $ 2,853,234 $ 61,104 $ 44,587 $ 4,422 $ 175,506 $ 1,342 Leveraged Finance Business Credit Real Estate Equipment Finance December 31, 2015 Investment Allowance Investment Allowance Investment Allowance Investment Allowance ($ in thousands) Collectively evaluated (1) $ 2,469,868 $ 27,874 $ 342,281 $ 1,991 $ 65,791 $ 350 $ 172,481 $ 1,291 Individually evaluated (2) 157,446 26,447 — — 34,941 306 772 — Total $ 2,627,314 $ 54,321 $ 342,281 $ 1,991 $ 100,732 $ 656 $ 173,253 $ 1,291 (1) Represents loans and leases collectively evaluated for impairment in accordance with ASC 450-20, Loss Contingencies, (2) Represents loans individually evaluated for impairment in accordance with ASU 310-10, Receivables, (3) Excludes $89.2 million acquired Leveraged Finance loans which the Company elected to record at fair value. Below is a summary of the Company’s investment in nonaccrual loans. Recorded Investment in Nonaccrual Loans March 31, 2016 December ($ in thousands) Leveraged Finance $ 106,753 $ 103,563 Business Credit — — Real Estate 7,705 7,705 Equipment Finance — — Total $ 114,458 $ 111,268 Loans being restructured have typically developed adverse performance trends as a result of various factors, the result of which is an inability to comply with the terms of the applicable credit agreement governing the borrowers’ obligations to the Company. In order to mitigate default risk and/or liquidation, assuming that liquidation proceeds are not viewed as a more favorable outcome to the Company and other lenders, the Company will enter into negotiations with the borrower and its shareholders on the terms of a restructuring. When restructuring a loan, the Company undertakes an extensive diligence process which typically includes (i) development of a financial model with a forecast horizon that matches the term of the proposed restructuring, (ii) meetings with management of the borrower, (iii) engagement of third party consultants and (iv) other internal analyses. Once a restructuring proposal is developed, it is subject to approval by both the Company’s Underwriting and Investment Committee. Loans are only removed from TDR classification after a period of performance following the refinancing of outstanding obligations on terms which are determined to be “market” in all material respects. The Company may modify loans that are not determined to be a TDR. Where a loan is modified or restructured but loan terms are considered market and no concessions were given on the loan terms, including price, principal amortization or obligation, or other restrictive covenants, a loan will not be classified as a TDR. The Company has made the following types of concessions in the context of a TDR: Group I: · extension of principal repayment term · principal holidays · interest rate adjustments Group II: · partial forgiveness · conversion of debt to equity A summary of the types of concessions that the Company made with respect to TDRs at March 31, 2016 and December 31, 2015 is provided below: Group I Group II ($ in thousands) March 31, 2016 $ 181,224 $ 150,438 December 31, 2015 $ 183,573 $ 162,986 Note: A loan may be included in both restructuring groups, but not repeated within each group. For the three months ended March 31, 2016, the Company had $1.1 million of partial charge-offs related to loans previously classified as TDR. As of March 31, 2016, the Company had not removed the TDR classification from any loan previously identified as such, but had charged-off, sold and received repayments of outstanding TDRs. The Company measures TDRs similarly to how it measures all loans for impairment. The Company performs a discounted cash flow analysis on cash flow dependent loans and we assess the underlying collateral value less reasonable costs of sale for collateral dependent loans. Management analyzes the projected performance of the borrower to determine if it has the ability to service principal and interest payments based on the terms of the restructuring. Loans will typically not be returned to accrual status until at least six months of contractual payments have been made in a timely manner or the borrower shows significant ability to maintain servicing of the restructured debt. Additionally, at the time of a restructuring and quarterly thereafter, an impairment analysis is undertaken to determine the measurement of specific reserve, if any, on each impaired loan. Below is a summary of the Company’s loans which were newly classified as TDR and existing TDR loans which subsequently defaulted, in each case during the periods presented. There were no new TDRs or any TDRs that subsequently defaulted during the three months ended March 31, 2016. For the Three Months Ended March 31, 2016 Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Investment in TDR Subsequently Defaulted ($ in thousands) Leveraged Finance $ — $ — $ — Real Estate — — — Equipment Finance — — — Total $ — $ — $ — For the Year Ended December 31, 2015 Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Investment in TDR Subsequently Defaulted ($ in thousands) Leveraged Finance $ 13,650 $ 13,650 $ 29,339 Business Credit — — — Real Estate* 27,704 27,704 — Equipment Finance 922 922 — Total $ 42,276 $ 42,276 $ 29,339 *The pre- modification and post- modification outstanding recorded investment within Real Estate were previously reported as $207,704; due to a pre- modification and post- modification outstanding recorded investments were reported as $222,276. These amounts should have been reported at $27,704 and $42,276, respectively, and have been corrected in the table above. The Company determined the error to be immaterial to the previously reported consolidated financials statements. The following sets forth a breakdown of troubled debt restructurings at March 31, 2016 and December 31, 2015: As of March 31, 2016 Accrual Status For the three months ($ in thousands) Loan Type Accruing Nonaccrual Impaired Balance Specific Allowance Charged-off Leveraged Finance $ 52,940 $ 92,317 $ 145,257 $ 27,530 $ 1,083 Real Estate 27,565 7,705 35,270 4,375 — Equipment Finance 697 — 697 — — Total $ 81,202 $ 100,022 $ 181,224 $ 31,905 $ 1,083 As of December 31, 2015 Accrual Status For the year ($ in thousands) Loan Type Accruing Nonaccrual Impaired Balance Specific Allowance Charged-off Leveraged Finance $ 53,883 $ 93,977 $ 147,860 $ 24,958 $ 4,000 Business Credit — — — — — Real Estate 27,236 7,705 34,941 — — Equipment Finance 772 — 772 — — Total $ 81,891 $ 101,682 $ 183,573 $ 24,958 $ 4,000 The Company classifies a loan as delinquent when it is over 60 days past due. An age analysis of the Company’s delinquent receivables is as follows: 60-89 Days Past Due Greater than 90 Days Total Past Due Current Total Loans and Leases Investment > 60 Days & Accruing ($ in thousands) March 31, 2016 Leveraged Finance $ — $ 18,908 $ 18,908 $ 2,923,570 $ 2,942,478 $ — Real Estate — — — 44,587 44,587 — Equipment Finance — — — 175,506 175,506 — Total $ — $ 18,908 $ 18,908 $ 3,143,663 $ 3,162,571 $ — 60-89 Days Past Due Greater than 90 Days Total Past Due Current Total Loans and Leases Investment in > 60 Days & Accruing ($ in thousands) December 31, 2015 Leveraged Finance $ — $ 27,165 $ 27,165 $ 2,600,149 $ 2,627,314 $ 8,530 Business Credit — — — 342,281 342,281 — Real Estate — — — 100,732 100,732 — Equipment Finance — — — 173,253 173,253 — Total $ — $ 27,165 $ 27,165 $ 3,216,415 $ 3,243,580 $ 8,530 A general allowance is provided for loans and leases that are not impaired. The Company employs a variety of internally developed and third-party modeling and estimation tools for measuring credit risk, which are used in developing an allowance for loan and lease losses on outstanding loans and leases. The Company’s allowance framework addresses economic conditions, capital market liquidity and industry circumstances from both a top-down and bottom-up perspective. The Company considers and evaluates a number of factors, including but not limited to, changes in economic conditions, credit availability, industry, loss emergence period, and multiple obligor concentrations in assessing both probabilities of default and loss severities as part of the general component of the allowance for loan and lease losses. On at least a quarterly basis, loans and leases are internally risk-rated based on individual credit criteria, including loan and lease type, loan and lease structures (including balloon and bullet structures common in the Company’s Leveraged Finance and Real Estate cash flow loans), borrower industry, payment capacity, location and quality of collateral if any (including the Company’s Real Estate loans). Borrowers provide the Company with financial information on either a monthly or quarterly basis. Ratings, corresponding assumed default rates and assumed loss severities are dynamically updated to reflect any changes in borrower condition and/or profile. For Leveraged Finance loans and Equipment Finance loans and leases, the data set used to construct probabilities of default in its allowance for loan losses model, Moody’s CRD Private Firm Database, primarily contains middle market loans that share attributes similar to the Company’s loans. The Company also considers the quality of the loan or lease terms and lender protections in determining a loan loss in the event of default. Prior to the sale of Business Credit, the Company utilized a proprietary model to risk rate the asset based loans on a monthly basis. This model captured the impact of changes in industry and economic conditions as well as changes in the quality of the borrower’s collateral and financial performance to assign a final risk rating. The Company also evaluated historical net loss trends by risk rating from a comprehensive industry database covering more than twenty-five years of experience of the majority of the asset based lenders operating in the United States. Based upon the monthly risk rating from the model, the reserve was adjusted to reflect the historical average for expected loss from the industry database. For Real Estate loans, the Company employs two mechanisms to capture the impact of industry and economic conditions. First, a loan’s risk rating, and thereby its assumed default likelihood, can be adjusted to account for overall commercial real estate market conditions. Second, to the extent that economic or industry trends adversely affect a substandard rated borrower’s loan-to-value ratio enough to impact its repayment ability, the Company applies a stress multiplier to the loan’s probability of default. The multiplier is designed to account for default characteristics that are difficult to quantify when market conditions cause commercial real estate prices to decline. The Company periodically reviews its allowance for credit loss methodology to assess any necessary adjustments based upon changing economic and capital market conditions. If the Company determines that changes in its allowance for credit losses methodology are advisable, as a result of changes in the economic environment or otherwise, the revised allowance methodology may result in higher or lower levels of allowance. At December 31, 2015, the Company enhanced its approach for determining the expected exposure at default to more precisely reflect loan and lease exposures. Given uncertain market conditions, actual losses under the Company’s current or any revised allowance methodology may differ materially from the Company’s estimate. Additionally, when determining the amount of the general allowance, the Company supplements the base amount with an environmental reserve amount which is governed by a score card system comprised of seven risk factors. The risk factors are designed based on those outlined in the Comptrollers of the Currency’s Allowance for Loan and Lease Losses Handbook. In the fourth quarter of 2015, the scoring system of the environmental reserve risk factors was recalibrated to align with the enhancement made to the approach for determining the exposure at default. The Company also performs a ratio analysis of comparable money center banks, regional banks and finance companies. While the Company does not rely on this peer group comparison to set the level of allowance for credit losses, use of the peer group does assist management in identifying market trends and serves as an overall reasonableness check on the allowance for credit losses computation. A summary of the activity in the allowance for credit losses is as follows: Three Months Ended March 31, 2016 Leveraged Finance Business Credit Real Estate Equipment Finance Total ($ in thousands) Balance, beginning of period $ 54,788 $ 1,991 $ 656 $ 1,291 $ 58,726 Provision for credit losses—general 227 (172 ) 965 51 1,071 Provision for credit losses—specific 12,573 — 4,069 — 16,642 Reversal due to sale of Business Credit — (1,819 ) — — (1,819 ) Loans charged off, net of recoveries (6,060 ) — (1,268 ) — (7,328 ) Balance, end of period $ 61,528 $ — $ 4,422 $ 1,342 $ 67,292 Balance, end of period—specific $ 32,960 $ — $ 4,375 $ — $ 37,335 Balance, end of period—general $ 28,568 $ — $ 47 $ 1,342 $ 29,957 Average balance of impaired loans $ 109,342 $ — $ 4,607 $ — $ 113,949 Average net book value of impaired leases $ — $ — $ — $ — $ — Interest recognized from impaired loans and leases $ 1,896 $ — $ 47 $ — $ 1,943 Loans and leases (1) Loans individually evaluated with specific allowance $ 133,733 $ — $ 28,058 $ — $ 161,791 Loans individually evaluated with no specific allowance 43,119 — 7,212 697 51,028 Acquired impaired loan 1,775 — — — 1,775 Loans and leases collectively evaluated without specific allowance 2,674,607 — 9,317 174,809 2,858,733 Total loans and leases $ 2,853,234 $ — $ 44,587 $ 175,506 $ 3,073,327 (1) Excludes $89.2 million of acquired Leveraged Finance loans which the Company elected to record at fair value. Three Months Ended March 31, 2015 Leveraged Finance Business Credit Real Estate Equipment Finance Total ($ in thousands) Balance, beginning of period $ 41,480 $ 1,334 $ 257 $ 622 $ 43,693 Provision for credit losses—general 3,734 (4 ) 26 241 3,997 Provision for credit losses—specific 2,912 –– 69 — 2,981 Loans charged off, net of recoveries 68 –– — — 68 Balance, end of period $ 48,194 $ 1,330 $ 352 $ 863 $ 50,739 Balance, end of period—specific $ 23,637 $ — $ 69 $ — $ 23,706 Balance, end of period—general $ 24,557 $ 1,330 $ 283 $ 863 $ 27,033 Average balance of impaired loans $ 164,902 $ — $ 51,723 $ — $ 216,625 Interest recognized from impaired loans $ 2,189 $ — $ 567 $ — $ 2,756 Loans and leases Loans individually evaluated with specific allowance $ 101,503 $ — $ 27,661 $ — $ 129,164 Loans individually evaluated with no specific allowance 63,044 — 23,512 — 86,556 Loans and leases collectively evaluated without specific allowance 1,919,458 264,910 58,449 113,665 2,356,482 Total loans and leases $ 2,084,005 $ 264,910 $ 109,622 $ 113,665 $ 2,572,202 Included in the allowance for credit losses at March 31, 2016 and December 31, 2015 is an allowance for unfunded commitments of $0.4 million and $0.5 million, respectively, which is recorded as a component of other liabilities on the Company’s consolidated balance sheet with changes recorded in the provision for credit losses on the Company’s consolidated statement of operations. The methodology for determining the allowance for unfunded commitments is consistent with the methodology for determining the allowance for loan and lease losses. During the three months ended March 31, 2016, the Company recorded a total provision for credit losses of $17.7 million. The Company increased its allowance for credit losses to $67.3 million as of March 31, 2016 from $58.7 million at December 31, 2015 as a result of an increase in the specific allowance for credit losses primarily related to the deterioration of four credits. In addition, the Company transferred three commercial real estate loans to loans held-for-sale which resulted in an additional $1.0 million of provision expense. The general allowance for credit losses covers probable incurred losses in the Company’s loan and lease portfolio with respect to loans and leases for which no specific impairment has been identified. When a loan is classified as impaired, the loan is evaluated for a specific allowance and a specific provision may be recorded, thereby removing it from consideration under the general component of the allowance analysis. Loans that are deemed to be uncollectible are charged off and deducted from the allowance, and recoveries on loans previously charged off are netted against loans charged off. A specific provision for credit losses is recorded with respect to impaired loans for which it is probable that the Company will be unable to collect all amounts due in accordance with the contractual terms of the loan agreement for which there is impairment recognized. The outstanding balance of impaired loans, which include all of the outstanding balances of the Company’s delinquent loans and its troubled debt restructurings, as a percentage of “Loans and leases, net” was 6% as of

Restricted Cash

Restricted Cash	3 Months Ended
	Mar. 31, 2016
Cash And Cash Equivalents [Abstract]
Restricted Cash	Note 5. Restricted Cash Restricted cash as of March 31, 2016 and December 31, 2015 was as follows: March 31, 2016 December 31, 2015 ($ in thousands) Collections on loans pledged to credit facilities $ 60,162 $ 67,892 Principal and interest collections on loans held in trust and prefunding amounts 95,092 85,823 Customer escrow accounts 92 277 Total $ 155,346 $ 153,992 As of March 31, 2016, the Company had the ability to use $58.7 million of restricted cash to fund new or existing loans.

Investments in Debt Securities,

Investments in Debt Securities, Available-for-Sale	3 Months Ended
	Mar. 31, 2016
Investments Debt And Equity Securities [Abstract]
Investments in Debt Securities, Available-for-Sale	Note 6. Investments in Debt Securities, Available-for-Sale Amortized cost of investments in debt securities as of March 31, 2016 and December 31, 2015 was as follows: March 31, 2016 December 31, 2015 ($ in thousands) Investments in debt securities—gross $ 111,020 $ 111,020 Unamortized discount (6,601 ) (6,765 ) Investments in debt securities—amortized cost $ 104,419 $ 104,255 The amortized cost, gross unrealized holding gains, gross unrealized holding losses, and fair value of available-for-sale securities at March 31, 2016 and December 31, 2015 were as follows: Amortized cost Gross unrealized holding gains Gross unrealized holding losses Fair value ($ in thousands) March 31, 2016 Collateralized loan obligations $ 104,419 $ — $ (14,732 ) $ 89,687 $ 104,419 $ — $ (14,732 ) $ 89,687 Amortized cost Gross unrealized holding gains Gross unrealized holding losses Fair value ($ in thousands) December 31, 2015 Collateralized loan obligations $ 104,255 $ — $ (10,078 ) $ 94,177 $ 104,255 $ — $ (10,078 ) $ 94,177 During the three month periods ended March 31, 2016 and March 31, 2015, the Company did not purchase or sell any investment in debt securities available for sale. The Company did not record any net “Other-Than-Temporary Impairment” charges during the three months ended March 31, 2016 and 2015. The following is an analysis of the continuous periods during which the Company has held investment positions which were carried at an unrealized loss as of March 31, 2016 and December 31, 2015: March 31, 2016 Less than 12 Months Greater than or Equal to 12 Months Total ($ in thousands) Number of positions 18 5 23 Fair value $ 76,038 $ 13,648 $ 89,686 Amortized cost 87,519 16,899 104,418 Unrealized loss $ (11,481 ) $ (3,251 ) $ (14,732 ) December 31, 2015 Less than 12 Months Greater than or Equal to 12 Months Total ($ in thousands) Number of positions 20 3 23 Fair value $ 86,245 $ 7,932 $ 94,177 Amortized cost 95,624 8,631 104,255 Unrealized loss $ (9,379 ) $ (699 ) $ (10,078 ) As a result of the Company’s evaluation of the securities, management concluded that the unrealized losses at March 31, 2016 and December 31, 2015 were caused by changes in market prices driven by interest rates and credit spreads. The Company’s evaluation of impairment include quotes from third party pricing services, adjustments to prepayment speeds, delinquency, an analysis of expected cash flows, interest rates, market discount rates, other contract terms, and the timing and level of losses on the loans and leases within the underlying trusts. At March 31, 2016, the Company has determined that it is not more likely than not that it will be required to sell the securities before the Company recovers its amortized cost basis in the security. The Company has also determined that there has not been an adverse change in the cash flows expected to be collected. Based upon the Company’s impairment review process, and the Company’s ability and intent to hold these securities until maturity or a recovery of fair value, the decline in the value of these investments is not considered to be “Other Than Temporary.” Maturities of debt securities classified as available-for-sale were as follows at March 31, 2016 and December 31, 2015: March 31, 2016 December 31, 2015 Amortized cost Fair value Amortized cost Fair value ($ in thousands) Available-for-sale: Due one year or less $ — $ — $ — $ — Due after one year through five years — — — — Due after five years through ten years 34,090 28,111 34,017 30,470 Due after ten years through fifteen years 70,329 61,576 70,238 63,707 Total $ 104,419 $ 89,687 $ 104,255 $ 94,177 Actual maturities of debt securities may differ from those presented above since certain obligations amortize and provide the issuer of the individual debt securities the right to call or prepay the obligation prior to the scheduled final stated maturity without penalty.

Borrowings

Borrowings	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Borrowings	Note 7. Borrowings Credit Facilities As of March 31, 2016 the Company had four credit facilities through certain of its wholly owned subsidiaries: (i) a $565 million credit facility with syndicated lenders agented by Wells Fargo Bank, National Association (“Wells Fargo”) to fund leveraged finance loans, (ii) a $375 million credit facility, consisting of a $350 million line of credit with Credit Suisse AG, Cayman Island Branch (“Credit Suisse”) and a $25 million line of credit with NewStar Capital, to provide financing to purchase collateral debt obligations at the instruction of NewStar Capital, (iii) a $250 million credit facility with Citibank, N.A. (“Citibank”) to fund leveraged finance loans, and (iv) a $75 million credit facility with Wells Fargo to fund equipment leases and loans. The Company must comply with various covenants under these facilities. The breach of certain of these covenants could result in a termination event and the exercise of remedies if not cured. At March 31, 2016, the Company was in compliance with all such covenants. These covenants are customary and vary depending on the type of facility. These covenants include, but are not limited to, failure to service debt obligations, failure to meet liquidity covenants and tangible net worth covenants, and failure to remain within prescribed facility portfolio delinquency, charge-off levels, and overcollateralization tests. In addition, the Company is required to make termination or make‑whole payments in the event that certain of its existing credit facilities are prepaid. These termination or make-whole payments, if triggered, could be material to the Company individually or in the aggregate, and in the case of certain facilities, could be caused by factors outside of the Company’s control, including as a result of loan prepayment by the borrowers under the loan facilities that collateralize these credit facilities. The Company has a $565.0 million credit facility with syndicated lenders agented by Wells Fargo to fund leveraged finance loans. The credit facility had an outstanding balance of $272.1 million and unamortized deferred financing fees of $7.1 million as of March 31, 2016. On January 26, 2016 and February 11, 2016, the Company entered into amendments to this facility which, among other things, increased the commitment amount from $475.0 million to $565.0 million and extended the maturity date to August 10, 2020. Interest on this facility accrues at a variable rate per annum. The facility provides for a revolving reinvestment period which ends on August 10, 2018, with a two-year amortization period. The Company has a $375.0 million note purchase agreement with Credit Suisse and NewStar Capital under the terms of which Credit Suisse and NewStar Capital agreed to provide financing to a CLO to purchase collateral debt obligations upon the instruction of NewStar Capital. NewStar Capital’s commitment under the line of credit is $25 million, which is subordinate in right of payment to Credit Suisse’s $350 million commitment. The credit facility had an outstanding balance of $65.0 million as of March 31, 2016. Interest on this facility accrues at a variable rate per annum. Advances under the lines of credit may be drawn, repaid and drawn again, subject to availability under a borrowing base until December 24, 2016. The notes mature on March 28, 2017. The Company has a $250.0 million credit facility with Citibank to fund leveraged finance loans. The credit facility had an outstanding balance of $194.0 million and unamortized deferred financing fees of $1.5 million as of March 31, 2016. Interest on this facility accrues at a variable rate per annum. The facility matures on May 5, 2020. It provides for a revolving reinvestment period which ends on May 5, 2018, with a two-year amortization period. The Company has a note purchase agreement with Wells Fargo under the terms of which Wells Fargo agreed to provide a $75.0 million credit facility to fund equipment leases and loans. The credit facility has an outstanding balance of $16.9 million and unamortized deferred financing fees of $0.8 million as of March 31, 2016. Interest on this facility accrues at a variable rate per annum. On April 10, 2015, the Company entered into an amendment to this facility which, among other things, extended the reinvestment period to April 10, 2017 and the final maturity date to April 10, 2019, and modified certain concentration amounts and specified threshold amounts. On March 31, 2016, the Company sold its membership interest in NewStar Business Credit LLC (“Business Credit”). In connection with the sale, the Company repaid all outstanding indebtedness of Business Credit, including amounts outstanding under the $175 million credit facility with a syndicate of lenders agented by DZ Bank AG Deutsche Zentral-Genossenschaftbank Frankfurt (“DZ Bank”) with an outstanding balance of $102.0 and the $165 million credit facility with a syndicate of lenders agented by Wells Fargo with an outstanding balance of $135.4 million, each of which was terminated. The Company accelerated and recognized deferred financing fees of $1.1 million and $0.7 million, respectively related to the warehouse facilities during the three months ended March 31, 2016. Senior notes On April 22, 2015, the Company issued $300.0 million in aggregate principal amount of 7.25% Senior Notes due 2020 (the “2020 Notes”). On November 9, 2015, the Company issued an additional $80.0 million in aggregate principal amount of 2020 Notes. The 2020 Notes issued on November 9, 2015, were issued at a debt discount of $0.8 million which will amortize over the life of the 2020 Notes. The Company repaid in full its corporate credit facility with Fortress Credit Corp. with a portion of the net proceeds from the April notes offering. The 2020 Notes mature on May 1, 2020, and bear interest at a rate of 7.25% per annum, which is payable semi-annually on May 1 and November 1 of each year, beginning November 1, 2015. At any time prior to May 1, 2017, the Company may redeem up to 35% of the aggregate principal amount of the 2020 Notes with the net cash proceeds of certain public equity offerings at a price equal to 107.25% of the aggregate principal amount so redeemed, plus accrued and unpaid interest thereon provided that immediately following the redemption, at least 65% of the 2020 Notes that were originally issued remain outstanding and any such redemption occurs within 180 days following the closing of any such public equity offering. Additionally, at any time prior to May 1, 2017, the Company may redeem some or all of the 2020 Notes at a price equal to 100% of the aggregate principal amount, plus accrued and unpaid interest thereon and a make-whole premium. On or after May 1, 2017, the Company may redeem the 2020 Notes, in whole or in part, at redemption prices specified in the 2020 Notes plus accrued and unpaid interest thereon. In addition, if the Company undergoes a change of control, the Company will be required to make an offer to purchase each holder’s 2020 Notes at a price equal to 101% of the principal amount of the 2020 Notes, plus accrued and unpaid interest. As of March 31, 2016, unamortized deferred financing fees were $6.7 million. Subordinated notes On December 4, 2014, the Company completed the initial closing of an investment of long-term capital from funds sponsored by Franklin Square Capital Partners ("Franklin Square") and sub-advised by GSO Capital Partners at which the Franklin Square funds purchased $200.0 million of 10-year subordinated notes (the "Subordinated Notes"), which rank junior to the Company's existing and future senior debt. During 2015, the Company drew an additional $75 million of these Subordinated Notes. The Company drew the remaining $25 million in January 2016. The Subordinated Notes were recorded at par less the initial relative fair value of the warrants issued in connection with the investment on December 4, 2014 and January 23, 2015 which was $58.8 million as of March 31, 2016 and $60.0 million as of December 31, 2015. The debt discount will amortize over the life of the notes and will be recorded as non-cash interest expense as the Subordinated Notes accrete to par value. As of March 31, 2016, unamortized deferred financing fees were $5.4 million. The Subordinated Notes bear interest at 8.25% and include a Payment-in-Kind ("PIK Toggle") feature that allows the Company, at its option, to elect to have interest accrued at a rate of 8.75% added to the principal of the Subordinated Notes instead of paying it in cash. The Subordinated Notes have a ten year term and mature on December 4, 2024. They are callable during the first three years with payment of a make-whole premium. The prepayment premium decreases to 103% and 101% after the third and fourth anniversaries of the closing, respectively. They are callable at par after December 4, 2019. The Subordinated Notes require a mandatory payment at the end of each accrual period, beginning on December 5, 2019. The Company is required to make a cash payment of principal plus accrued interest in an amount required to prevent the Subordinated Notes from being treated as an "Applicable High Yield Discount Obligation" within the meaning of Section 163(i)(1) of the Internal Revenue Code of 1986, as amended. Events of default under the Subordinated Notes include failure to pay interest or principal when due subject to applicable grace periods, material uncured breaches of the terms of the Subordinated Notes, and bankruptcy/insolvency events. Term Debt Securitizations 2007-1 CLO. In June 2007, the Company completed a term debt securitization transaction. In conjunction with this transaction the Company established a separate single-purpose bankruptcy-remote subsidiary, NewStar Commercial Loan Trust 2007-1 (the “2007-1 CLO Trust”) and sold and contributed $600.0 million in loans and investments (including unfunded commitments), or portions thereof, to the 2007-1 CLO Trust. The Company remains the servicer of the loans. Simultaneously with the initial sale and contribution, the 2007-1 CLO Trust issued $546.0 million of notes to institutional investors. The Company retained $54.0 million, comprising 100% of the 2007-1 CLO Trust’s trust certificates. At March 31, 2016, the $125.7 million of outstanding drawn notes were collateralized by the specific loans and investments, principal collection account cash and principal payment receivables totaling $179.7 million. The 2007-1 CLO Trust permitted reinvestment of collateral principal repayments for a six-year period which ended in May 2013. During 2012, the Company purchased $0.2 million of the 2007-1 CLO Trust’s Class C notes. During 2010, the Company purchased $5.0 million of the 2007-1 CLO Trust’s Class D notes. During 2009, the Company purchased $1.0 million of the 2007-1 CLO Trust’s Class D notes. During 2009, Moody’s downgraded all of the notes of the 2007-1 CLO Trust. As a result of the downgrade, amortization of the 2007-1 CLO Trust changed from pro rata to sequential, resulting in scheduled principal payments thereafter made in order of the notes’ seniority until all available funds are exhausted for each payment. The Company receives a loan collateral management fee and excess interest spread. The Company also receives payments with respect to the classes of notes it owns in accordance with the transaction documents. The Company expects to receive a principal distribution as owner of the trust certificates when the term debt is retired. If loan collateral in the 2007-1 CLO Trust is in default under the terms of the indenture, the excess interest spread from the 2007-1 CLO Trust would not be distributed until the undistributed cash plus recoveries equals the outstanding balance of the defaulted loan or if the Company elected to remove the defaulted collateral. The following table sets forth selected information with respect to the 2007-1 CLO Trust: Notes originally issued Outstanding balance March 31, 2016 Interest rate Legal final maturity Ratings (S&P/Moody’s/ Fitch)(1) ($ in thousands) 2007-1 CLO Trust Class A-1 $ 336,500 $ 17,021 Libor+0.24% September 30, 2022 AAA/Aaa/AAA Class A-2 100,000 5,354 Libor+0.26% September 30, 2022 AAA/Aaa/AAA Class B 24,000 24,000 Libor+0.55% September 30, 2022 AA+/Aa1/AA Class C 58,500 58,293 Libor+1.30% September 30, 2022 A-/A2/A Class D 27,000 21,000 Libor+2.30% September BBB-/Baa2/BBB+ $ 546,000 $ 125,668 (1) These ratings were initially given in June 2007, are unaudited and are subject to change from time to time. 2012-2 CLO. On December 18, 2012, the Company completed a term debt securitization transaction. In conjunction with this transaction the Company established a separate single-purpose bankruptcy-remote subsidiary, NewStar Commercial Loan Funding 2012-2 LLC (the “2012-2 CLO”) and sold and contributed $325.9 million in loans and investments (including unfunded commitments), or portions thereof, to the 2012-2 CLO. The Company remains the servicer of the loans. Simultaneously with the initial sale and contribution, the 2012-2 CLO issued $263.3 million of notes to institutional investors. The Company retained $62.6 million, comprising 100% of the 2012-2 CLO’s membership interests, Class E notes, Class F notes, and subordinated notes. On June 12, 2015, the Company sold 100% of the 2012-2 CLO’s Class E Notes totaling $16.3 million to institutional investors. At March 31, 2016, the $279.6 million of outstanding drawn notes were collateralized by the specific loans and investments, principal collection account cash and principal payment receivables totaling $325.9 million. At March 31, 2016, deferred financing fees were $1.3 million. The 2012-2 CLO permitted reinvestment of collateral principal repayments for a three-year period which ended in January 2016. The Company receives a loan collateral management fee and excess interest spread. The Company also receives payments with respect to the classes of notes it owns in accordance with the transaction documents. The Company expects to receive a principal distribution as owner of the membership interests when the term debt is retired. If loan collateral in the 2012-2 CLO is in default under the terms of the indenture, the excess interest spread from the 2012-2 CLO may not be distributed if the overcollateralization ratio, or other collateral quality tests, are not satisfied. The following table sets forth selected information with respect to the 2012-2 CLO: Notes originally issued Outstanding balance March 31, 2016 Interest rate Legal final maturity Ratings (Moody’s/ S&P)(1) ($ in thousands) 2012-2 CLO Class A $ 190,700 $ 190,700 Libor+1.90% January Aaa/AAA Class B 26,000 26,000 Libor+3.25% January 20, 2023 Aa2/N/A Class C 35,200 35,200 Libor+4.25% January 20, 2023 A2/N/A Class D 11,400 11,400 Libor+6.25% January 20, 2023 Baa2/N/A Class E 16,300 16,300 Libor+6.75% January 20, 2023 Ba1/N/A $ 279,600 $ 279,600 (1) These ratings were initially given in December 2012, are unaudited and are subject to change from time to time. 2013-1 CLO. On September 11, 2013, the Company completed a term debt securitization transaction through its separate single-purpose bankruptcy-remote subsidiary, NewStar Commercial Loan Funding 2013-1 LLC (the “2013-1 CLO”) and sold and contributed $247.6 million in loans and investments (including unfunded commitments), or portions thereof, to the 2013-1 CLO. The Company remains the servicer of the loans. Simultaneously with the initial sale and contribution, the 2013-1 CLO issued $338.6 million of notes to institutional investors. The Company retained $61.4 million, comprising 100% of the 2013-1 CLO’s membership interests, Class F notes, Class G notes, and subordinated notes. At March 31, 2016, the $330.6 million of outstanding drawn notes were collateralized by the specific loans and investments, principal collection account cash and principal payment receivables totaling $392.0 million. At March 31, 2016, deferred financing fees were $3.3 million. The 2013-1 CLO permits reinvestment of collateral principal repayments for a three-year period ending in September 2016. Should the Company determine that reinvestment of collateral principal repayments are impractical in light of market conditions or if collateral principal repayments are not reinvested within a prescribed timeframe, such funds may be used to repay the outstanding notes. The Company receives a loan collateral management fee and excess interest spread. The Company also receives payments with respect to the classes of notes it owns in accordance with the transaction documents. The Company expects to receive a principal distribution as owner of the membership interests when the term debt is retired. If loan collateral in the 2013-1 CLO is in default under the terms of the indenture, the excess interest spread from the 2013-1 CLO may not be distributed if the overcollateralization ratio, or other collateral quality tests, are not satisfied. The following table sets forth selected information with respect to the 2013-1 CLO: Notes originally issued Outstanding balance March 31, 2016 Interest rate Legal final maturity Ratings (S&P/ Moody’s)(2) ($ in thousands) 2013-1 CLO Class A-T $ 202,600 $ 202,600 Libor+1.65% September AAA/Aaa Class A-R 35,000 27,000 (1) September 20, 2023 AAA/Aaa Class B 38,000 38,000 Libor+2.30% September 20, 2023 AA/N/A Class C 36,000 36,000 Libor+3.80% September 20, 2023 A/N/A Class D 21,000 21,000 Libor+4.55% September 20, 2023 BBB/N/A Class E 6,000 6,000 Libor+5.30% September 20, 2023 BBB-/N/A $ 338,600 $ 330,600 (1) Class A-R Notes accrue interest at the Class A-R CP Rate so long as they are held by a CP Conduit, and otherwise will accrue interest at the Class A-R LIBOR Rate or, in certain circumstances, the Class A-R Base Rate, but in no event shall the interest rate payable pari passu with the Class A-T Notes exceed the Class A-R Waterfall Rate Cap. (2) These ratings were initially given in September 2013, are unaudited and are subject to change from time to time. 2014-1 CLO. On April 17, 2014, the Company completed a term debt securitization transaction through its separate single-purpose bankruptcy-remote subsidiary, NewStar Commercial Loan Funding 2014-1 LLC (the “2014-1 CLO”) and sold and contributed $249.6 million in loans and investments (including unfunded commitments), or portions thereof, to the 2014-1 CLO. The Company remains the servicer of the loans. Simultaneously with the initial sale and contribution, the 2014-1 CLO issued $289.5 million of notes to institutional investors. The Company retained $58.9 million, comprising 100% of the 2014-1 CLO’s membership interests, Class E notes, Class F notes, and subordinated notes. At March 31, 2016, the $289.5 million of outstanding drawn notes were collateralized by the specific loans and investments, principal collection account cash and principal payment receivables totaling $348.4 million. At March 31, 2016, deferred financing fees were $2.4 million. The 2014-1 CLO permits reinvestment of collateral principal repayments for a four-year period ending in April 2018. Should the Company determine that reinvestment of collateral principal repayments are impractical in light of market conditions or if collateral principal repayments are not reinvested within a prescribed timeframe, such funds may be used to repay the outstanding notes. The Company receives a loan collateral management fee and excess interest spread. The Company also receives payments with respect to the classes of notes it owns in accordance with the transaction documents. The Company expects to receive a principal distribution as owner of the membership interests when the term debt is retired. If loan collateral in the 2014-1 CLO is in default under the terms of the indenture, the excess interest spread from the 2014-1 CLO may not be distributed if the overcollateralization ratio, or other collateral quality tests, are not satisfied. The following table sets forth selected information with respect to the 2014-1 CLO: Notes originally issued Outstanding balance March 31, 2016 Interest rate Legal final maturity Ratings (Moody’s)(2) ($ in thousands) 2014-1 CLO Class A $ 202,500 $ 202,500 Libor+1.80% April Aaa Class B-1 20,000 20,000 Libor+2.60% April 20, 2025 Aa2 Class B-2 13,250 13,250 (1) April 20, 2025 Aa2 Class C 30,250 30,250 Libor+3.60% April 20, 2025 A2 Class D 23,500 23,500 Libor+4.75% April 20, 2025 Baa3 $ 289,500 $ 289,500 (1) Class B-2 Notes accrue interest at a fixed rate of 4.902%. (2) These ratings were initially given in April 2014, are unaudited and are subject to change from time to time. 2015-1 CLO. On March 20, 2015, the Company completed a term debt securitization transaction through its separate single-purpose bankruptcy-remote subsidiary, NewStar Commercial Loan Funding 2015-1 LLC (the “2015-1 CLO”) and sold and contributed $336.3 million in loans and investments (including unfunded commitments), or portions thereof, to the 2015-1 CLO. The Company remains the servicer of the loans. Simultaneously with the initial sale and contribution, the 2015-1 CLO issued $410.3 million of notes to institutional investors. The Company retained $85.8 million, comprising 100% of the 2015-1 CLO’s membership interests and subordinated notes. At March 31, 2016, the $410.3 million of outstanding drawn notes were collateralized by the specific loans and investments, principal collection account cash and principal payment receivables totaling $496.1 million. At March 31, 2016, deferred financing fees were $3.8 million. The 2015-1 CLO permits reinvestment of collateral principal repayments for a four-year period ending in April 2019. Should the Company determine that reinvestment of collateral principal repayments are impractical in light of market conditions or if collateral principal repayments are not reinvested within a prescribed timeframe, such funds may be used to repay the outstanding notes. The Company receives a loan collateral management fee and excess interest spread. The Company also receives payments with respect to the classes of notes it owns in accordance with the transaction documents. The Company expects to receive a principal distribution as owner of the membership interests when the term debt is retired. If loan collateral in the 2015-1 CLO is in default under the terms of the indenture, the excess interest spread from the 2015-1 CLO may not be distributed if the overcollateralization ratio, or other collateral quality tests, are not satisfied. The following table sets forth selected information with respect to the 2015-1 CLO: Notes originally issued Outstanding balance March 31, 2016 Interest rate Legal final maturity Ratings (Moody’s/Fitch)(2) ($ in thousands) 2015-1 CLO Class A-1 $ 253,500 $ 253,500 Libor+1.80% January 20, 2027 Aaa/AAA Class A-2 35,000 35,000 (1) January 20, 2027 Aaa/AAA Class B 50,000 50,000 Libor+2.80% January 20, 2027 Aa2/ N/A Class C 38,500 38,500 Libor+3.85% January 20, 2027 A2/N/A Class D 33,250 33,250 Libor+5.50% January 20, 2027 Baa3/N/A $ 410,250 $ 410,250 (1) Class A-2 Notes accrue interest at a spread over Libor of 1.65% from the closing date to, but excluding March 20, 2017, and 2.00% thereafter. (2) These ratings were initially given in March 2015, are unaudited and are subject to change from time to time. 2015-1 ABS. On September 1, 2015, NewStar Equipment Finance I, LLC, a subsidiary of the Company, completed a static asset-backed securitization transaction through its separate single-purpose bankruptcy-remote subsidiary, NewStar Commercial Lease Funding 2015-1 LLC (the “2015-1 ABS”) and sold and contributed $100.1 million in leases and equipment loans (including unfunded commitments), or portions thereof, to the 2015-1 ABS. The Company remains the servicer of the leases and equipment loans. Simultaneously with the initial sale and contribution, the 2015-1 ABS issued $70.0 million of notes to institutional investors. The Company retained all of the 2015-1 ABS’s membership interest and the Class B notes, totaling $40.6 million. At March 31, 2016, the $44.0 million of outstanding notes were secured by cash, leases and equipment loans totaling $84.6 million. At March 31, 2016, deferred financing fees were $1.2 million. The Company receives a collateral management fee and excess interest spread. The Company also receives payments with respect to the classes of notes it owns in accordance with the transaction documents. The Company expects to receive a principal distribution as owner of the membership interests when the term debt is retired. If loan collateral in the 2015-1 ABS is in default under the terms of the indenture, the excess interest spread may not be distributed if the target overcollateralization ratio, or other performance based tests, are not satisfied. The following table sets forth selected information with respect to the 2015-1 ABS: Notes originally issued Outstanding balance March 31, 2016 Interest rate Legal final maturity Ratings (DBRS)(1) ($ in thousands) 2015-1 ABS Class A $ 70,046 44,034 3.27% April 15, 2019 AA $ 70,046 $ 44,034 (1) These ratings were initially given in September 2015, are unaudited and are subject to change from time to time. 2015-2 CLO. On September 15, 2015, the Company completed a term debt securitization transaction through its separate single-purpose bankruptcy-remote subsidiary, NewStar Commercial Loan Funding 2015-2 LLC (the “2015-2 CLO”) and sold and contributed $298.4 million in loans and investments (including unfunded commitments), or portions thereof, to the 2015-2 CLO. The Company remains the servicer of the loans. Simultaneously with the initial sale and contribution, the 2015-2 CLO issued $327.8 million of notes to institutional investors. The Company retained $70.1 million, comprising 100% of the 2015-2 CLO’s membership interests and a portion of the Class E notes. At March 31, 2016, the $327.8 million of outstanding drawn notes were collateralized by the specific loans and investments, principal collection account cash and principal payment receivables totaling $397.8 million. At March 31, 2016, deferred financing fees were $3.4 million. The 2015-2 CLO permits reinvestment of collateral principal repayments for a four-year period ending in August 2019. Should the Company determine that reinvestment of collateral principal repayments are impractical in light of market conditions or if collateral principal repayments are not reinvested within a prescribed timeframe, such funds may be used to repay the outstanding notes. The Company receives a loan collateral management fee and excess interest spread. The Company also receives payments with respect to the classes of notes it owns in accordance with the transaction documents. The Company expects to receive a principal distribution as owner of the membership interests when the term debt is retired. If loan collateral in the 2015-2 CLO is in default under the terms of the indenture, the excess interest spread from the 2015-2 CLO may not be distributed if the overcollateralization ratio, or other collateral quality tests, are not satisfied. The following table sets forth selected information with respect to the 2015-2 CLO: Notes originally issued Outstanding balance March 31, 2016 Interest rate Legal final maturity Ratings (Moody’s/Fitch)(2) ($ in thousands) 2015-2 CLO Class A-1 $ 205,000 $ 205,000 Libor+2.00% August 25, 2027 Aaa/AAA Class A-2 23,000 23,000 (1) August 25, 2027 Aaa/AAA Class B 40,000 40,000 Libor+2.90% August 25, 2027 Aa2/ N/A Class C 26,250 26,250 Libor+3.95% August 25, 2027 A2/N/A Class D 28,500 28,500 Libor+5.25% August 25, 2027 Baa3/N/A Class E 5,000 5,000 Libor+7.50% August 25, 2027 Ba3/N/A $ 327,750 $ 327,750 (1) Class A-2 Notes accrue interest at a fixed rate of 3.461%. (2) These ratings were initially given in August 2015, are unaudited and are subject to change from time to time. 2016-1 CLO. On March 2, 2016, the Company completed a term debt securitization transaction through its separate single-purpose bankruptcy-remote subsidiary, NewStar Commercial Loan Funding 2016-1 LLC (the “2016-1 CLO”) and sold and contributed $247.3 million in loans and investments (including unfunded commitments), or portions thereof, to the 2016-1 CLO. The Company remains the servicer of the loans. Simultaneously with the initial sale and contribution, the 2016-1 CLO issued $255.8 million of notes to institutional investors. The Company retained $92.2 million, comprising 100% of the 2016-1 CLO’s membership interests, and the Class D and Class E notes. At March 31, 2016, the $255.8 million of outstanding drawn notes were collateralized by the specific loans and investments, principal collection account cash and principal payment receivables totaling $348.0 million. At March 31, 2016, deferred financing fees were $2.7 million. The 2016-1 CLO permits reinvestment of collateral principal repayments for a four-year period ending in February 2020. Should the Company determine that reinvestment of collateral principal repayments are impractical in light of market conditions or if collateral principal repayments are not reinvested within a prescribed timeframe, such funds may be used to repay the outstanding notes. The following table sets forth selected information with respect to the 2016-1 CLO: Notes originally issued Outstanding balance March 31, 2016 Interest rate Legal final maturity Ratings (Moody’s/Fitch)(2) ($ in thousands) 2016-1 CLO Class A-1 $ 176,500 $ 176,500 Libor+2.30% February 25, 2028 Aaa/AAA Class A-2 20,000 20,000 (1) February 25, 2028 Aaa/AAA Class B 36,750 36,750 Libor+3.75% February 25, 2028 Aa2/ N/A Class C 22,500 22,500 Libor+5.40% February 25, 2028 A2/N/A $ 255,750 $ 255,750 (1) Class A-2 Notes accrue interest at a fixed rate of 3.44%. (2) These ratings were initially given in February 2016, are unaudited and are subject to change from time to time. Corporate Credit Facility On January 5, 2010, the Company entered into a note agreement with Fortress Credit Corp., which was subsequently amended on August 31, 2010, January 27, 2012, November 5, 2012, and December 4, 2012. The agreement was amended and restated on May 13, 2013 and further amended on June 3, 2013. The credit facility, as amended, consisted of a $238.5 million term note with Fortress Credit Corp. as agent, which consisted of the existing outstanding balance of $100.0 million (the “Existing Funding”), an initial funding of $98.5 million (the “Initial Funding”), and three subsequent borrowings, of $5.0 million (the “Delay Draw Term A”), $25.0 million (the “Delay Draw Term B”) and the $10.0 million Term C Loan. On April 22, 2015, the Company repaid in full the term note with Fortress Credit Corp.

Repurchase Agreements

Repurchase Agreements	3 Months Ended
	Mar. 31, 2016
Banking And Thrift [Abstract]
Repurchase Agreements	Note 8. Repurchase Agreements Three Months Ended March 31, 2016 Year Ended December 31, 2015 ($ in thousands) Outstanding at end of period $ 95,247 $ 96,789 Deferred financing fees and debt discount $ 462 $ 565 Repurchase agreements, net $ 94,785 $ 96,224 Weighted average rate at end of period 3.80 % 3.67 % On June 7, 2011, the Company entered into a five-year, $68.0 million financing arrangement with Macquarie Bank Limited backed primarily by a portfolio of commercial mortgage loans previously originated by the Company. The financing was structured as a master repurchase agreement under which the Company sold the portfolio of commercial mortgage loans to Macquarie for an aggregate purchase price of $68.0 million. The Company also agreed to repurchase the commercial mortgage loans from time to time (including a minimum quarterly amount), and agreed to repurchase all of the commercial mortgage loans by June 7, 2016. Upon the repurchase of a commercial mortgage loan, the Company is obligated to repay the principal amount related to such mortgage loan plus accrued interest (at a rate based on LIBOR plus a margin) to the date of repurchase. The Company will continue to service the commercial mortgage loans. On October 2, 2013, the Company entered into an amendment to this financing arrangement which, among other things, extended the date it had agreed to repurchase all of the commercial mortgage loans by one year to June 7, 2017, provided for $25.5 million of additional advances for existing eligible assets owned by the Company, allowed for the advance of up to $15.0 million to fund an additional commercial mortgage loan, and released $41.1 million of principal payments to the Company as unrestricted cash. The facility accrues interest at a variable rate per annum, which was 5.44% as of March 31, 2016. As of March 31, 2016, unamortized deferred financing fees were $0.5 million and the outstanding balance was $42.0 million. During the three months ended March 31, 2016, the Company made principal payments totaling $0.2 million. The Company has entered into a repurchase transaction with Deutsche Bank AG, pursuant to the terms of a Global Master Repurchase Agreement (2000 version) , dated as of February 13, 2015 between Deutsche Bank AG and NS Bond Funding I LLC (the “Deutsche Bank Repurchase Agreement”). Pursuant to the Deutsche Bank Repurchase Agreement, Deutsche Bank AG will purchase securities and simultaneously agree to sell the securities back to the Company at a specified date. Under the terms of the Deutsche Bank Repurchase Agreement, the Company is required at all times to maintain a level of overcollateralization for the obligations, which is maintained through daily margining. As of March 31, 2016, there was no outstanding balance under the Deutsche Bank Repurchase Agreement. The Company has made certain representations and warranties and is required to comply with various covenants and requirements customary for financing arrangements of this nature. The Company has entered into a repurchase transaction with Citigroup Global Markets, pursuant to the terms of a Global Master Repurchase Agreement (2000 version) , dated as of March 16, 2015 between Citigroup Global Markets and NS Loan Originator LLC (the “Citigroup Repurchase Agreement”). Pursuant to the Citigroup Repurchase Agreement, Citigroup Global Markets will purchase securities and simultaneously agree to sell the securities back to the Company at a specified date. Under the terms of the Citigroup Repurchase Agreement, the Company is required at all times to maintain a level of overcollateralization for the obligations, which is maintained through daily margining. As of March 31, 2016, the outstanding balance was $14.8 million. The Company has made certain representations and warranties and is required to comply with various covenants and requirements customary for financing arrangements of this nature. The Company has entered into a repurchase transaction with JP Morgan Chase Bank pursuant to the terms of a Global Master Repurchase Agreement (2000 version), dated as of April 2, 2015 between JP Morgan Chase Bank and NS Bond Funding II LLC (the “JP Morgan Repurchase Agreement”). Pursuant to the JP Morgan Repurchase Agreement, JP Morgan Chase Bank will purchase securities and simultaneously agree to sell the securities back to the Company at a specified date. Under the terms of the JP Morgan Repurchase Agreement, the Company is required at all times to maintain a level of overcollateralization for the obligations, which is maintained through daily margining. As of March 31, 2016, the outstanding balance was $37.1 million. The Company has made certain representations and warranties and is required to comply with various covenants and requirements customary for financing arrangements of this nature. The Company has entered into a repurchase transaction with Natixis Securities Americas LLC pursuant to the terms of a Global Master Repurchase Agreement (2000 version), dated as of October 14, 2015 between Natixis Securities Americas LLC and NS Bond Funding III LLC (the “Natixis Repurchase Agreement”). Pursuant to the Natixis Repurchase Agreement, Natixis Securities Americas LLC will purchase securities and simultaneously agree to sell the securities back to the Company at a specified date. Under the terms of the Natixis Repurchase Agreement, the Company is required at all times to maintain a level of overcollateralization for the obligations, which is maintained through daily margining. As of March 31, 2016, the outstanding balance was $1.4 million. The Company has made certain representations and warranties and is required to comply with various covenants and requirements customary for financing arrangements of this nature.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Stockholders' Equity	Note 9. Stockholders’ Equity Stockholders’ Equity As of March 31, 2016 and December 31, 2015, the Company’s authorized capital consists of preferred and common stock and the following was authorized and outstanding: March 31, 2016 December 31, 2015 Shares authorized Shares outstanding Shares authorized Shares outstanding (In thousands) Preferred stock 5,000 — 5,000 — Common stock 145,000 47,639 145,000 46,527 Preferred Stock Since the completion of the Company’s initial public offering on December 13, 2006, the Company’s authorized capital stock has included 5,000,000 shares of preferred stock with a par value of $0.01 per share, all of which remain undesignated. Common Stock On October 7, 2015, our Board of Directors authorized the repurchase of up to $5.0 million of the Company’s common stock from time to time on the open market or in privately negotiated transactions. On February 10, 2016, our Board of Directors authorized an increase to this stock repurchase program, of which approximately $4.9 million remained available for repurchase, to authorize the repurchase of up to an aggregate of $30.0 million of the Company’s common stock (inclusive of the amount remaining under the existing program). The timing and amount of any shares purchased under the repurchase program will be determined by our management based on its evaluation of market conditions and other factors. The repurchase program, as amended, will expire on December 31, 2016 unless extended by the Board and may be suspended or discontinued at any time without notice. As of March 31, 2016, the Company had repurchased 137,165 shares of common stock at a weighted average price per share of $7.36. On March 24, 2015, the Company repurchased 1,000,000 shares of its common stock in a privately negotiated transaction with an unaffiliated third party for an aggregate purchase price of $10.3 million. Warrants On January 23, 2015, the Company completed its December 4, 2014 issuance of warrants as part of the strategic relationship with Franklin Square Capital Partners (“Franklin Square”). The Company issued the second tranche of warrants to purchase 2.5 million shares of its common stock subject to the same terms as the warrants that were issued on December 4, 2014. Restricted Stock During the three months ended March 31, 2016, the Company issued 523,903 shares of restricted stock to certain employees of the Company pursuant to the Company’s 2006 Incentive Plan. The fair value of the shares of restricted stock is equal to the closing price of the Company’s stock on the date of issuance. The shares of restricted stock issued to employees of the Company vest in three equal installments on each of the first three anniversaries of the date of grant. Restricted stock activity for the three months ended March 31, 2016 was as follows: Shares Grant-date fair value ($ in thousands) Non-vested as of December 31, 2015 496,704 $ 5,629 Granted 523,903 3,285 Vested (181,626 ) (2,153 ) Forfeited (555 ) (9 ) Non-vested as of March 31, 2016 838,426 $ 6,752 The Company’s compensation expense related to restricted stock was $1.0 million for the three months ended March 31, 2016 and March 31, 2015. The unrecognized compensation cost of $4.5 million at March 31, 2016 is expected to be recognized over the next three years. Stock Options Under the Company’s 2006 Incentive Plan, the Company’s compensation committee may grant options to purchase shares of common stock. Stock options may either be incentive stock options (“ISOs”) or non-qualified stock options. ISOs may only be granted to officers and employees. The compensation committee will, with regard to each stock option, determine the number of shares subject to the stock option, the manner and time of exercise, vesting, and the exercise price, which will not be less than 100% of the fair market value of the common stock on the date of the grant. The shares of common stock issuable upon exercise of options or other awards or upon grant of any other award may be either previously authorized but unissued shares or treasury shares. Stock option activity for the three months ended March 31, 2016 was as follows: Options Outstanding as of December 31, 2015 2,513,532 Granted — Exercised (1,634,513 ) Forfeited (7,500 ) Outstanding as of March 31, 2016 871,519 Vested as of March 31, 2016 871,519 Exercisable as of March 31, 2016 871,519 As of March 31, 2016 and December 31, 2015, the Company has recognized all compensation costs related to options granted.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Note 10. Earnings Per Share The Company utilizes the two-class method to calculate earnings per share. The two-class method allocates net income to each class of common stock and participating security. Unvested share-based payment awards granted to certain employees and board members entitle holders to same rights as outstanding and vested common stock. These securities are considered to be participating securities and are included in the allocation for computing earnings per share under this method. Income is allocated to common shareholders and participating securities under the two-class method based upon the proportion of each to the total weighted average shares available. The computations of basic and diluted income per share for the three months ended March 31, 2016 and 2015 are as follows: Three Months Ended March 31, 2016 2015 (In thousands) Numerator: Net income to common shareholders $ 4,009 $ 2,539 Net income allocated to participating securities - basic and diluted 59 25 Net income allocated to common shareholders - basic and diluted 3,950 2,514 Denominator: Denominator for basic earnings per common share 46,447 46,770 Denominator for diluted earnings per common share: Denominator for basic earnings per common share 46,447 46,770 Potentially dilutive securities - options — 2,636 Potentially dilutive securities – restricted stock — — Potentially dilutive securities - warrants — — Total weighted average diluted shares 46,447 49,406 Earnings per common share Basic $ 0.09 $ 0.05 Diluted $ 0.09 $ 0.05 Warrants to purchase common stock totaling 12,000,000 were not included in the computation of earnings per share for the three months ended March 31, 2016 and 2015 due to the fact that the results would be anti-dilutive. Stock Options totaling 871,519 were not included in the computation of earnings per share for the three months ended March 31, 2016 due to the fact that the results would be anti-dilutive.

Variable Interest Entities

Variable Interest Entities	3 Months Ended
	Mar. 31, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Variable Interest Entities	Note 11. Variable Interest Entities On October 1, 2015, the Company adopted ASU 2015-2, Consolidation – Amendments to the Consolidation Analysis The Company sponsors the formation of various entities that are considered to be VIEs. The majority of these VIEs were formed to issue term debt securitizations. The assets of the VIEs are primarily comprised of senior secured loans and the liabilities are primarily comprised of debt. The Company's determination of whether it is the primary beneficiary of the VIE is based in part on an assessment of whether or not the Company is exposed to the majority of the risks and rewards of the entity. In instances where the Company retains a significant portion of the equity and remains the servicer of the loans, it was determined that the Company has the power to direct the activities that most significantly impact the economic performance of these VIEs. Additionally, the Company determined that the potential fees that we could receive directly or indirectly from these VIEs represent rights to returns that could potentially be significant to the VIEs. As a result, the Company was deemed the primary beneficiary and therefore has consolidated these entities. VIEs that have been consolidated are disclosed in Note 7. The following table sets forth the information with respect to the unconsolidated VIEs for which the Company holds a variable interest in as of March 31, 2016 and December 31, 2015: March 31, 2016 December 31, 2015 ($ in thousands) Unconsolidated VIE assets $ 484,678 $ 483,581 Unconsolidated VIE liabilities 359,394 362,383 Equity interest included on the Consolidated Balance Sheet 23,903 23,910 Maximum risk of loss (1) 24,316 24,327 (1) Includes equity investment the Company has made, or is required to make, and any earned but uncollected management and incentive fees. The Company does not record performance and incentive allocations until the respective measurement period has ended. Unconsolidated VIEs In January 2015, NewStar closed a new managed credit fund, NewStar Clarendon Fund CLO LLC (the “Clarendon Fund”), a $400.0 million term debt securitization. The Clarendon Fund is the third credit fund established by the Company to co-invest in directly originated middle market commercial loans. To comply with European Union (“EU”) risk retention rules, the Company holds 5% of each class of notes in the securitization (vertical strip), totaling $20.4 million. The Clarendon Fund employs an independent investment professional who is responsible for reviewing and approving investment recommendations made to the Clarendon Fund by the Company. In October 2015, NewStar acquired FOC Partners. FOC Partners acts as an investment manager for six collateralized loan obligations and two sponsored funds and provides discretionary services to a series of separately managed accounts. The Company has determined that it is not the primary beneficiary of any of acquired CLOs, sponsored funds or separately managed accounts; however the Company has determined that it has a variable interest in the Secured Value sponsored fund as it holds approximately one percent of the interest of the fund.

Financial Instruments with Off-

Financial Instruments with Off-Balance Sheet Risk	3 Months Ended
	Mar. 31, 2016
Commitments And Contingencies Disclosure [Abstract]
Financial Instruments with Off-Balance Sheet Risk	Note 12. Financial Instruments with Off-Balance Sheet Risk The Company is party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its borrowers. These financial instruments include unfunded commitments and standby letters of credit. The instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the consolidated balance sheet. The contract or notional amounts of those instruments reflect the extent of involvement we have in particular classes of financial instruments. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for standby letters of credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. Unused lines of credit are commitments to lend to a borrower if certain conditions have been met. These commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Because certain commitments may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each borrower’s creditworthiness on a case-by-case basis. The amount of collateral required is based on factors that include management’s credit evaluation of the borrower and the borrower’s compliance with financial covenants. Due to their fluctuating nature, the Company cannot know with certainty the aggregate amounts that will be required to fund its unfunded commitments. The aggregate amount of these unfunded commitments currently exceeds the Company’s available funds and will likely continue to exceed its available funds in the future. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending credit to our borrowers. Standby letters of credit are conditional commitments issued by us to guarantee the performance by a borrower to a third party. Financial instruments with off-balance sheet risk are summarized as follows: March 31, 2016 December 31, 2015 ($ in thousands) Unused lines of credit $ 280,283 $ 601,805 Standby letters of credit 8,745 8,696

Total Return Swap

Total Return Swap	3 Months Ended
	Mar. 31, 2016
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Total Return Swap	Note 13. Total Return Swap The Company was a participant in a Total Return Swap (“TRS”), which matured on March 31, 2016. We acted as the manager of the TRS and selected the specific loans to be subject to the TRS. The TRS did not qualify for hedge accounting treatment as it did not offset the risks of another investment position. The underlying referenced loan portfolio of the TRS was primarily large, liquid, broadly syndicated senior secure floating rate loans with Citibank, N.A. as the counterparty. The TRS effectively added leverage to the Company's portfolio by providing economic benefits of the loans subject to the TRS, despite the fact that such loans were not directly owned the Company, in return for an interest-type payment to Citibank. On December 4, 2014, NewStar TRS I LLC, a newly-formed wholly owned subsidiary of the Company, entered into the TRS. The initial maximum market value (determined at the time such loan becomes subject to the TRS) of the portfolio of loans subject to the TRS was $75.0 million. On December 15, 2014, we entered into an amendment to the TRS that increased the maximum value to $125.0 million, on March 2, 2015, we entered into an amendment that increased the maximum value to $150.0 million, and on July 14, 2015, we entered into an additional amendment to the TRS that increased the maximum value to $175.0 million. Upon maturity of the TRS, the Company purchased $138.9 million of the loans in the referenced portfolio. The majority of these loans were purchased to fund future CLOs of the Company and its wholly owned subsidiary NewStar Capital. The Company recorded these loans at fair value which was determined by using the At March 31, 2016 : Net Receivable Net Realized Gains/(Losses) ($ in thousands) Interest income from TRS portfolio $ — $ 2,355 TRS interest expense — 848 Loss on TRS — (6,122 ) Due to Citibank (10,984 ) — TRS receivable 1,145 — The TRS matured on March 31, 2016. The cash collateral on deposit with Citibank as of March 31, 2016, was $11.9 million and will be used to net settle the loss reflected above. The realized loss has been previously recognized in the consolidated statement of operations. At December 31, 2015, the receivable and realized loss on the total return swap on the consolidated balance sheet and consolidated statements of operations consisted of the following: Net Receivable Net Realized Gains/(Losses) ($ in thousands) Interest income from TRS portfolio $ — $ 8,667 TRS interest expense — 2,652 Realized loss on TRS (5,816 ) (4,822 ) TRS receivable 1,377 — The fair value of the TRS is reflected as an unrealized gain or loss on the total return swap on the consolidated balance sheet, within other assets or liabilities. The change in value of the TRS is reflected in the consolidated statements of operations as loss (gain) on total return swap. As of December 31, 2015, the fair value of the underlying referenced portfolio was $155.6 million. The Company's obligations under the TRS were non-recourse to it, and its exposure was limited to the value of the cash collateral which fluctuated from time to time depending on the market value of the underlying loans. The Company was required to cash collateralize a specified percentage of each loan included under the TRS in accordance with margin requirements. As of March 31, 2016 and December 31, 2015, the Company had cash collateral on deposit with Citibank of $11.9 million and $56.5 million, respectively. The Company paid interest to Citibank for each loan at a rate equal to one-month LIBOR plus 1.60% per annum. Upon the termination or repayment of any loan under the TRS Agreement, the Company would deduct the appreciation of such loan's value from any interest owed to Citibank or pay the depreciation amount to Citibank in addition to remaining interest payments.

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value	Note 14. Fair Value ASC 820, Fair Value Measurements · Level 1 – inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. · Level 2 – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. · Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value measurement. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Items Recorded at Fair Value on a Recurring Basis Investments in debt securities, available-for-sale Investments in debt securities available-for-sale are recorded at fair value on a recurring basis. The fair value measurement of investments in debt securities is based on third party pricing services or by using internally developed financial models. For securities in less liquid markets where there is limited activity and little transparency around broker quotes used to value such securities, the Company classifies securities valued using broker quotes as Level 3. If quoted prices are not available, then fair value is estimated by using internally developed financial models. These securities are not actively traded and require a private sale, and the valuation involves application of significant management judgment. Inputs into the model-based valuations can include changes in market indexes, selling prices of similar securities, management’s assumptions related to the credit rating of the security, prepayment assumptions and other factors such as credit loss assumptions and management’s assessment of the current market conditions. Such securities are classified as Level 3, as the valuation models are based on significant inputs that are unobservable in the market. Loans Loans designated to Credit Funds managed by NewStar Capital are recorded at fair value on a recurring basis. The Company has elected to apply the fair value option accounting to these loans which is consistent with the manner in which the Credit Funds are managed. The fair value of these loans are based on third party pricing services. These loans are classified as Level 2. Total return swap The fair value of the total return swap was based on third party pricing services who collect prices through a variety of methods including dealer runs, indicative sheets and online posts. The Company recorded the total return swap as Level 2. Items Measured at Fair Value on a Nonrecurring Basis Collateral dependent impaired loans Collateral dependent loans that are deemed to be impaired are valued based upon the fair value of the underlying collateral. For collateral dependent loans for which repayment is dependent on the sale of the collateral, management adjusts the fair value for estimated costs to sell. For collateral dependent loans for which repayment is dependent on the operation of the collateral, management may also adjust values to reflect estimated market value declines or apply other discounts to appraised values. Collateral dependent impaired loans are categorized as Level 3. During the three months ended March 31, 2016, the Company recorded $4.1 million of specific allowance for credit losses related to “Collateral dependent impaired loans” measured at fair value at March 31, 2016. Loans held-for-sale Loans held-for-sale are not recorded at fair value on a recurring basis, they are carried at either the lower of cost or fair value. When fair value is determined to be the carrying value, the values are based on quoted prices, where available, or are determined by discounting estimated cash flows using model-based valuation techniques. Inputs into the model-based valuations can include changes in market indexes, selling prices of similar loans, management’s assumption related to the credit rating of the loan, prepayment assumptions and other factors, such as credit loss assumptions. Where quoted market prices are obtained through dealer quotes, broker indicative prices or online posts, loans held-for-sale are classified as Level 2. Loans held-for-sale are classified as Level 3 in instances where valuation models are based on significant inputs that are unobservable in the market. During the three months ended March 31, 2016, the Company recorded a $3.7 million loss related to “Loans, held-for-sale” measured at fair value at March 31, 2016. Other real estate owned or repossessed assets The Company does not record other real estate owned or repossessed assets at fair value on a recurring basis. The fair value is estimated using one of several methods, including collateral value, market value of similar properties, liquidation value and discounted cash flows. M anagement may adjust the fair value for estimated costs to sell or adjust values to reflect estimated market value declines or apply other discounts to values. The following table presents recorded amounts of assets and liabilities measured at fair value on a recurring and nonrecurring basis as of March 31, 2016, by caption in the consolidated balance sheet and by ASC 820 valuation hierarchy (as described above). Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Carrying Value in Consolidated Balance Sheet ($ in thousands) Recurring Basis: Assets: Investments in debt securities, available-for-sale $ — $ — $ 89,687 $ 89,687 Loans — 89,244 — $ 89,244 Total assets recorded at fair value on a recurring basis $ — $ — $ 89,687 $ 178,931 Nonrecurring Basis: Collateral dependent impaired loans $ — $ — $ 23,767 $ 23,767 Loans, held-for-sale — 129,284 19,502 $ 148,786 Other real estate owned/repossessed assets — — 250 $ 250 Total assets recorded at fair value on a nonrecurring basis $ — $ 129,284 $ 43,519 $ 172,803 At March 31, 2016, “Investments in debt securities, available-for-sale” consisted of collateralized loan obligations. The fair value measurement is obtained through a third party pricing service or by using internally developed financial models. At March 31, 2016, “Loans” consisted of loans that the Company has designated to Credit Funds managed by NewStar Capital. The fair value of these loans are obtained through a third party pricing service. At March 31, 2016, “Collateral dependent impaired loans” measured at fair value on a nonrecurring basis consisted of impaired collateral-dependent commercial real estate loans. The fair values of these loans are based on third party appraisals of the underlying collateral value as well as the Company’s internal analysis. During the three months ended March 31, 2016, the Company recorded $4.1 million of specific allowance for credit losses related to collateral dependent loans. At March 31, 2016, “Loans, held-for-sale” measured at fair value on a nonrecurring basis consist of loans that have had credit downgrades and or have remained in the loans held-for-sale portfolio for a significant period of time. When fair value is determined to be the carrying value, the fair values of these loans are obtained through a third party pricing service or by using internally developed financial models. During the three months ended March 31, 2016, the Company recorded a $3.7 million loss related to “Loans, held-for-sale” measured at fair value. At March 31, 2016, “Other real estate owned/repossessed assets” measured at fair value on a nonrecurring basis consist of repossessed assets. The fair value is based on third party appraisals of the underlying collateral value as well as the Company’s internal analysis. The following table presents a summary of significant unobservable inputs and valuation techniques of the Company’s Level 3 fair value measurements at March 31, 2016. Fair Valuation Techniques Unobservable Input Range ($ in thousands) Financial assets: Investments in debt securities, available-for-sale $ 89,687 Third-party Pricing Loans and leases, net 23,767 Market comparables Valuation model Cost to sell, Marketability discount 3% - Other real estate/repossessed assets 250 Appraisal Cost to sell 3%- 7% Total: $ 113,704 The following table presents recorded amounts of assets and liabilities measured at fair value on a recurring and nonrecurring basis as of December 31, 2015, by caption in the consolidated balance sheet and by ASC 820 valuation hierarchy (as described above). Quoted Prices in Active Markets for Identical (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Carrying Value in Consolidated Balance Sheet ($ in thousands) Recurring Basis: Assets: Investments in debt securities, available-for-sale $ — $ — $ 94,177 $ 94,177 Total assets recorded at fair value on a recurring basis $ — $ — $ 94,177 $ 94,177 Liabilities: TRS — 4,439 — 4,439 Total liabilities recorded at fair value on a recurring basis $ — $ 4,439 $ — $ 4,439 Nonrecurring Basis: Collateral dependent impaired loans — — 27,473 27,473 Loans, held-for-sale — 140,151 — 140,151 Other real estate owned/repossessed assets — — 250 250 Total assets recorded at fair value on a nonrecurring basis $ — $ 140,151 $ 27,723 $ 167,874 . At December 31, 2015, “Investments in debt securities, available-for-sale” consisted of collateralized loan obligations. The fair value measurement was obtained through a third party pricing service or by using internally developed financial models. At December 31, 2015, the “TRS” with Citibank which is included within Other liabilities on the consolidated balance sheet. The TRS has a maximum notional amount of $175.0 million and is carried at an estimated fair value of $(4.4) million, comprised of $1.4 million of interest receivable and an unrealized loss of $5.8 million on the underlying loan portfolio. At December 31, 2015, “Collateral dependent impaired loans” measured at fair value on a nonrecurring basis consisted of impaired collateral-dependent commercial real estate loans. The fair values of these loans are based on third party appraisals of the underlying collateral value as well as the Company’s internal analysis. During 2015, the Company recorded $0.3 million of specific allowance for credit losses related to “Collateral dependent impaired loans” measured at fair value at December 31, 2015. At December 31, 2015, “Loans, held-for-sale” measured at fair value on a nonrecurring basis consist of loans that have had credit downgrades and or have remained in the loans held-for-sale portfolio for a significant period of time. When fair value is determined to be the carrying value, the fair values of these loans are obtained through a third party pricing service or by using internally developed financial models. During 2015, the Company recorded a $2.6 million loss to related to “Loans, held-for-sale” measured at fair value at December 31, 2015. At December 31, 2015, “Other real estate owned/repossessed assets” measured at fair value on a nonrecurring basis consist of repossessed assets. The fair value is based on third party appraisals of the underlying collateral value as well as the Company’s internal analysis. The following table presents a summary of significant unobservable inputs and valuation techniques of the Company’s Level 3 fair value measurements at December 31, 2015. Fair value Valuation Techniques Unobservable Input Range ($ in thousands) Financial assets: Investments in debt securities, available-for-sale $ 94,177 Third-party pricing Pricing Loans and leases, net 27,473 Market comparables Valuation model Cost to sell, Marketability discount 3% - Other real estate owned/repossessed assets 250 Appraisal Cost to sell 3% - 7% Total: $ 121,900 Changes in level 3 recurring fair value measurements The table below illustrates the change in balance sheet amounts during the three months ended March 31, 2016 and 2015 (including the change in fair value), for financial instruments measured on a recurring basis and classified by the Company as level 3 in the valuation hierarchy. When a determination is made to classify a financial instrument as level 3, the determination is based upon the significance of the unobservable parameters to the overall fair value measurement. However, level 3 financial instruments typically include, in addition to the unobservable or level 3 components, observable components (that is, components that are actively quoted and can be validated to external sources); accordingly, the gains and losses in the table below include changes in fair value due in part to observable factors that are part of the valuation methodology. The Company did not transfer any financial instruments in or out of level 1, 2, or 3 during the three months ended March 31, 2016 and 2015. For the three months ended March 31, 2016: Investments Debt Securities, Available-for-sale ($ Balance as of December 31, 2015 $ 94,177 Total gains or losses (realized/unrealized) Included in earnings 176 Included in other comprehensive income (4,666 ) Purchases — Issuances — Settlements — Balance as of March 31, 2016 $ 89,687 For the three months ended March 31, 2015: Investments Debt Securities, Available-for-sale ($ Balance as of December 31, 2014 $ 46,881 Total gains or losses (realized/unrealized) Included in earnings 111 Included in other comprehensive income 185 Purchases 32,714 Issuances — Settlements — Balance as of March 31, 2015 $ 79,891 The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments at March 31, 2016 and December 31, 2015. The fair value of a financial instrument is the amount at which the instrument could be exchanged in a current transaction between willing parties. March 31, 2016 December 31, 2015 Carrying amount Fair Carrying amount Fair ($ in thousands) Financial assets: Cash and cash equivalents $ 150,657 $ 150,657 $ 35,933 $ 35,933 Restricted cash 155,346 155,346 153,992 153,992 Cash collateral on deposit with custodian 19,442 19,442 61,081 61,081 Investments in debt securities available-for-sale 89,687 89,687 94,177 94,177 Loans held-for-sale, net 468,443 471,433 478,785 483,781 Loans and leases, net 3,029,315 3,012,180 3,134,072 3,147,117 Other assets 14,534 14,534 14,255 14,255 Financial liabilities: Credit facilities, net $ 538,512 $ 538,512 $ 832,686 $ 843,896 Term debt, net 2,044,931 2,027,384 1,821,519 1,819,344 Senior notes, net 372,560 342,000 372,153 368,600 Subordinated notes, net 235,855 283,999 209,509 266,857 Repurchase agreements, net 94,785 99,964 96,224 101,433 Other liabilities — — 4,439 4,439 The carrying amounts shown in the table are included in the consolidated balance sheets under the indicated captions. The following table presents the carrying amounts, estimated fair values, and placement in the fair value hierarchy of the Company’s financial instruments at March 31, 2016 and December 31, 2015. The table excludes financial instruments for which the carrying amount approximates fair value such as cash and cash equivalents, restricted cash, investments in debt securities available-for-sale, and financial information disclosed above. Fair Value Measurements March 31, 2016 Carrying amount Fair Level 1 Level 2 Level 3 ($ in thousands) Financial assets: Loans and leases, net $ 3,029,315 $ 3,012,180 $ — $ 89,244 $ 2,922,936 Loans held-for-sale, net 468,443 471,433 — 451,931 19,502 Other assets 14,534 14,534 — — 14,534 Financial liabilities: Credit facilities, net 538,512 538,512 — 538,512 — Term debt securitizations, net 2,044,931 2,027,384 — 2,027,384 — Repurchase agreements, net 94,785 99,964 — 99,964 — Senior notes, net 372,560 342,000 — 342,000 — Subordinated notes, net 235,855 283,999 — — 283,999 Fair Value Measurements December 31, 2015 Carrying amount Fair Level 1 Level 2 Level 3 ($ in thousands) Financial assets: Loans and leases, net $ 3,134,072 $ 3,147,117 $ — $ — $ 3,147,117 Loans held-for-sale, net 478,785 483,781 — 483,781 — Other assets 14,255 14,255 — — 14,255 Financial liabilities: Credit facilities, net 832,686 843,896 — 843,896 — Term debt securitizations, net 1,821,519 1,819,344 — 1,819,344 — Repurchase agreements, net 96,224 101,433 — 101,433 — Senior notes, net 372,153 368,600 — 368,600 — Subordinated notes, net 209,509 266,857 — — 266,857 Other liabilities 4,439 4,439 4,439 The following methods and assumptions were used to estimate the fair value of each class of financial instruments: Cash and cash equivalents, restricted cash and cash collateral on deposit with custodian: The carrying amounts approximate fair value because of the short maturity of these instruments. Loans held-for-sale, net: The fair values are based on quoted prices, where available, or are determined by discounting estimated cash flows using model-based valuation techniques. Inputs into the model-based valuations can include changes in market indexes, selling prices of similar loans, management’s assumption related to credit rating of the loan, prepayment assumptions and other factors, such as credit loss assumptions. Loans at fair value: The loans at fair value are based on third party pricing services. Loans and leases, net: The fair value was determined as the present value of expected future cash flows discounted at current market interest rates offered by similar lending institutions for loans with similar terms to companies with comparable credit risk. This method of estimating fair value is based on significant unobservable inputs and should approximate an exit price fair value. The amount included in the above table excludes impaired collateral-dependent commercial real estate loans. Investments in debt securities: The fair values of debt securities are based on quoted market prices, when available, at the reporting date for those or similar investments. When no market data is available, we estimate fair value using various valuation tools including cash flow models that utilize financial statements and business plans, as well as qualitative factors. Credit facilities: Due to the adjustable rate nature of the borrowings, the fair values of the credit facilities are estimated to approximate their carrying values. Rates currently are comparable to those offered to the Company for similar debt instruments of comparable maturities by the Company’s lenders. Term debt securitizations: The fair value was determined by applying prevailing term debt securitization market interest rates to the Company’s current term debt securitization structure. Repurchase agreements: The fair value was determined by applying prevailing repurchase agreement market interest rates to the Company’s current repurchase agreement structure. Senior notes: The fair value was based on available quoted market prices. Subordinated notes: The fair value was estimated as the present value of expected future cash flows discounted at market interest rates on similar debt instruments, issued by companies with comparable credit ratings. Other assets/other liabilities : Comprised of non-public investments and the total return swap. The non-public investments are carried at $14.5 million and $14.3 million, as of March 31, 2016 and December 31, 2015, respectively. These investments are in the form of warrants and are obtained as part of the loan origination process. Warrants which contain a net exercise provision are required to be accounted for as derivatives and recorded at fair value. The fair value of the derivative warrant portfolio is reviewed quarterly and adjustments to the fair value are recorded in current earnings. Fair value is determined using internally developed valuation models. Where sufficient data exists, a market approach method is utilized to estimate the current value of the underlying company. The estimated fair value of the underlying securities for warrants requiring valuation at fair value were adjusted for discounts related to lack of liquidity. The Company classifies warrants accounted for as derivatives as Level 3. The total return swap is based on third party pricing services who collect prices through a variety of methods including dealer runs, indicative sheets and online posts. The Company classified the total return swap as Level 2.

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Segment Reporting	Note 15. Segment Reporting Beginning in 2016, the Company has two reportable segments, Commercial Lending and Asset Management. Segment information is derived from the internal reporting system utilized by management. Revenues and expenses for segments reflect those revenue and expenses which can be specifically identified and have been assigned based on internally developed allocation methods. Results may be restated, when necessary, to reflect changes in organizational structure or allocation methodology. Any changes in estimates and allocations that may affect the reported results of any business segment will not affect the consolidated financial position or results of operations of the Company as a whole. Commercial Lending The Commercial Lending segment provides a range of senior secured flexible debt options to mid-sized companies with annual cash flow (EBITDA) typically between $10 million and $50 million owned by private equity investment funds and managed by established professional alternative asset managers. Asset Management The Asset Management segment includes credit funds managed by the Company and NewStar Capital. These credit funds focus on middle market loans, liquid tradeable credit and liquid loan strategies. The following tables presents the statement of operations for the Company’s reportable segments: Three Months Ended March 31, 2016 Commercial Lending Asset Management Consolidated Total Net interest income: $ 21,857 $ 662 $ 22,519 Provision for loan losses 17,713 — 17,713 Net interest income after provision 4,144 662 4,806 Noninterest income: Management fees — 3,047 3,047 Performance fees — 394 394 Other lending fees 1,193 — 1,193 Other noninterest income (1) 14,630 (112 ) 14,518 Total noninterest income: 15,823 3,329 19,152 Non-interest expense 14,835 2,233 17,068 Income before income taxes $ 5,132 $ 1,758 $ 6,890 Income tax expense 2,881 Net income $ 4,009 (1) Includes fair value adjustments on Loans held-for-sale and fair value portfolio. Three months ended March 31, 2015 Commercial Lending Asset Management Consolidated Total ($ in thousands) Net interest income $ 17,828 $ (413 ) $ 17,415 Provision for loan losses 6,978 — 6,978 Net interest income after provision 10,850 (413 ) 10,437 Noninterest income: Management fees — 920 920 Performance fees — — — Other lending fees 1,158 — 1,158 Other noninterest income (2) 2,048 — 2,048 Total Noninterest income: 3,206 920 4,126 Non-interest expense 9,886 346 10,232 Income before income taxes $ 4,170 $ 161 $ 4,331 Income tax expense 1,792 Net income $ 2,539 (2) Includes fair value adjustment on Loans held-for-sale. March 31, 2016 Commercial Lending Asset Management Total ($ in thousands) Loans and leases, gross $ 3,073,327 $ 89,244 $ 3,162,571 Loans held-for-sale, gross 475,383 — 475,383 Investments in debt securities, available for sale, net of mark — 96,288 96,288 Other assets 234,593 39,109 273,702 Total Balance Sheet Assets 3,783,303 224,641 4,007,944 Illiquid Credit funds * — 818,627 818,627 Liquid/Tradeable Credit * — 2,067,040 2,067,040 Total Assets 3,783,303 3,110,308 6,893,611 Less: Other assets (234,593 ) (39,109 ) (273,702 ) Total Managed Assets $ 3,548,710 $ 3,071,199 $ 6,619,909 December 31, 2015 Commercial Lending Asset Management Total ($ in thousands) Loans and leases, gross $ 3,243,580 $ - $ 3,243,580 Loans held-for-sale, gross 485,874 — 485,874 Investments in debt securities, available for sale, net of mark — 100,942 100,942 Other assets 205,256 15,731 220,987 Total Balance Sheet Assets 3,934,710 116,673 4,051,383 Illiquid Credit funds * — 824,573 824,573 Liquid/Tradeable Credit * — 2,294,497 2,294,497 Total Assets 3,934,710 3,235,743 7,170,453 Less: Other assets (205,256 ) (15,731 ) (220,987 ) Total Managed Assets $ 3,729,454 $ 3,220,012 $ 6,949,466 *Assets managed by the Company for the Illiquid Credit and Liquid/Tradeable Credit Funds are not Assets of the Company and are not included in the Consolidated Total Assets as reflected in the Condensed Consolidated Balance Sheet.

Related-Party Transactions

Related-Party Transactions	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
Related-Party Transactions	Note 16. Related-Party Transactions On January 15, 2015, the Company announced the closing of the NewStar Clarendon Fund CLO LLC (the “Clarendon Fund”), a $400.0 million term debt securitization. The Clarendon Fund is the third credit fund established by the Company to co-invest in directly originated middle market commercial loans. To comply with EU risk retention rules, the Company holds 5% of each class of note in the securitization, totaling $20.4 million. The Clarendon Fund employs an independent investment professional who is responsible for reviewing and approving investment recommendations made to the Clarendon Fund by the Company. The Company has determined that it is not the primary beneficiary of the Clarendon Fund and will not consolidate the Clarendon Fund’s operating results or statements of financial position. Pursuant to a Collateral Management Agreement dated January 15, 2015, the Company serves as collateral manager of the Clarendon Fund. The Company is entitled to receive a fee, which will accrue quarterly based on the fee basis amount in arrears payable on each payment date. For the three months ended March 31, 2016, the Clarendon Fund’s collateral management fee was $0.5 million and for the three months ended March 31, 2015, the Clarendon Fund’s collateral management fee was $0.4 million, respectively. Pursuant to a Collateral Management Agreement dated June 26, 2014, the Company serves as collateral manager of the Arlington Program. The Company is entitled to receive a fee, which will accrue quarterly based on the fee basis amount in arrears payable on each payment date. For the three months ended March 31, 2016, the Arlington Program’s collateral management fee was $0.5 million, and for the three months ended March 31, 2015, the Arlington Program’s collateral management fee was $0.5 million. Pursuant to an Investment Management Agreement dated August 3, 2005, the Company serves as investment manager of the NewStar Credit Opportunities Fund, Ltd. (the “Fund”), a Cayman Islands exempted company limited by shares incorporated under the provisions of The Companies Law of the Cayman Islands. The Fund pays the Company a fee when cash is distributed to its investors. For the three months ended March 31, 2016, the Fund paid the Company $0.04 million and for the three months ended March 31, 2015, the Fund paid the Company $0.01 million.

Summary of Significant Accoun25

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation These interim condensed consolidated financial statements include the accounts of the Company and its subsidiaries (collectively, “NewStar”) and have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). All significant intercompany transactions have been eliminated in consolidation. These interim condensed financial statements include adjustments of a normal and recurring nature considered necessary by management to fairly present NewStar’s financial position, results of operations and cash flows. These interim condensed financial statements may not be indicative of financial results for the full year. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosure of contingent assets and liabilities. Actual results could differ from those estimates. The estimates most susceptible to change in the near-term are the Company’s estimates of its (i) allowance for credit losses, (ii) recorded amounts of deferred income taxes, (iii) fair value measurements used to record fair value adjustments to certain financial instruments, (iv) valuation of investments (v) determination of other than temporary impairments and temporary impairments and (vi) impairment of goodwill and identified intangible assets. The interim condensed consolidated financial statements and notes thereto should be read in conjunction with the Company’s Annual Report on Form 10-K, for the year ended December 31, 2015.
Prior Period Reclassification	Prior Period Reclassification Prior period amounts are reclassified wherever necessary to confirm with current period presentation.
Consolidation	Consolidation The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries (collectively, “NewStar”) and have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). All significant intercompany transactions have been eliminated in consolidation.
Segment Reporting	Segment Reporting Due to the continued expansion of our asset management activities, through new fund formation and the acquisition of NewStar Capital, the Company reassessed its classification of reporting as a single segment under ASC 280, Segment Reporting
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards In April 2015, the FASB issued ASU 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs (in thousands) December 31, 2015 As previously reported under GAAP applicable at the time Deferred financing costs, net 40,733 Credit facilities 843,896 Term debt securitizations, net 1,837,889 Senior notes, net 379,232 Subordinated notes, net 215,018 Repurchase agreements 96,789 As currently reported under ASU 2015-03 Deferred financing costs, net - Credit facilities, net 832,686 Term debt securitizations, net 1,821,519 Senior notes, net 372,153 Subordinated notes, net 209,509 Repurchase agreements, net 96,224 In September 2015, the FASB issued ASU 2015-16, Simplifying the Accounting for Measurement-Period Adjustments in Business Combinations (Topic 805)
Recently Issued Accounting Standards	Recently Issued Accounting Standards In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Recognition and Measurement of Financial Assets and Financial Liabilities (Topic 825-10) In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting (Topic 718). In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) 2017.

Summary of Significant Accoun26

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
ASU 2015-03 Impact on Condensed Consolidated Balance Sheets	The adoption of ASU 2015-03 had the following impact on the December 31, 2015 on the Condensed Consolidated Balance Sheets. (in thousands) December 31, 2015 As previously reported under GAAP applicable at the time Deferred financing costs, net 40,733 Credit facilities 843,896 Term debt securitizations, net 1,837,889 Senior notes, net 379,232 Subordinated notes, net 215,018 Repurchase agreements 96,789 As currently reported under ASU 2015-03 Deferred financing costs, net - Credit facilities, net 832,686 Term debt securitizations, net 1,821,519 Senior notes, net 372,153 Subordinated notes, net 209,509 Repurchase agreements, net 96,224

Loans Held-for-Sale, Loans, L27

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses (Tables)	3 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
Loans Held-for-Sale	As of March 31, 2016 and December 31, 2015, loans held-for-sale consisted of the following: March 31, 2016 December 31, 2015 ($ in thousands) Leveraged Finance $ 475,383 $ 485,874 Gross loans held-for-sale 475,383 485,874 Deferred loan fees, net (6,940 ) (7,089 ) Total loans held-for-sale, net $ 468,443 $ 478,785
Summary of Loans and Leases	As of March 31, 2016, and December 31, 2015, loans and leases consisted of the following: March 31, 2016 December 31, 2015 ($ in thousands) Leveraged Finance $ 2,942,478 $ 2,627,314 Business Credit — 342,281 Real Estate 44,587 100,732 Equipment Finance 175,506 173,253 Gross loans and leases 3,162,571 3,243,580 Deferred loan fees and discount, net (66,388 ) (51,249 ) Allowance for loan and lease losses (66,868 ) (58,259 ) Total loans and leases, net (1) $ 3,029,315 $ 3,134,072 (1) Includes loans at fair value of $89,244 and $0, respectively.
Summary of Activity Relating to Accretable Discount for Loans Purchased	The following table sets forth the activity relating to the accretable discount for loans purchased. March 31, 2016 December 31, 2015 ($ in thousands) Balance, beginning of the year $ — $ — Purchased loans 2,593 — Accretion of income (24 ) — Reduction due to payments or sale (4 ) — Balance, end of year $ 2,565 $ —
Summary of Impaired Loans	A summary of impaired loans is as follows: Investment, Net of Charge-offs Investment, Net of Unamortized Discount/Premium Unpaid Principal ($ in thousands) March 31, 2016 Leveraged Finance $ 178,627 $ 163,703 $ 223,739 Real Estate 35,270 35,248 38,616 Equipment Finance 697 645 697 Total $ 214,594 $ 199,596 $ 263,052 December 31, 2015 Leveraged Finance $ 157,446 $ 150,692 $ 188,453 Business Credit — — — Real Estate 34,941 34,915 38,286 Equipment Finance 772 709 772 Total $ 193,159 $ 186,316 $ 227,511 Recorded Investment Related Allowance for Credit Losses Recorded Investment, net, with a Related Allowance for Credit Losses Recorded Investment without a Related Allowance for Credit Losses Recorded Investment, net, without a Related Allowance for Credit Losses ($ in thousands) March 31, 2016 Leveraged Finance $ 133,733 $ 127,004 $ 44,894 $ 36,699 Real Estate 28,058 28,036 7,212 7,212 Equipment Finance — — 697 645 Total $ 161,791 $ 155,040 $ 52,803 $ 44,556 December 31, 2015 Leveraged Finance $ 113,397 $ 106,762 $ 44,049 $ 43,930 Business Credit — — — — Real Estate 7,705 7,705 27,236 27,210 Equipment Finance — — 772 709 Total $ 121,102 $ 114,467 $ 72,057 $ 71,849
Evaluation Summary of Portfolio and Allowance for Loan and Lease Losses by Impairment	Below is a summary of the Company’s evaluation of its portfolio and allowance for loan and lease losses by impairment methodology: Leveraged Finance Real Estate Equipment Finance March 31, 2016 Investment Allowance Investment Allowance Investment Allowance ($ in thousands) Collectively evaluated (1) (3) $ 2,674,607 $ 28,144 $ 9,317 $ 47 $ 174,809 $ 1,342 Individually evaluated (2) 178,627 32,960 35,270 4,375 697 — Total $ 2,853,234 $ 61,104 $ 44,587 $ 4,422 $ 175,506 $ 1,342 Leveraged Finance Business Credit Real Estate Equipment Finance December 31, 2015 Investment Allowance Investment Allowance Investment Allowance Investment Allowance ($ in thousands) Collectively evaluated (1) $ 2,469,868 $ 27,874 $ 342,281 $ 1,991 $ 65,791 $ 350 $ 172,481 $ 1,291 Individually evaluated (2) 157,446 26,447 — — 34,941 306 772 — Total $ 2,627,314 $ 54,321 $ 342,281 $ 1,991 $ 100,732 $ 656 $ 173,253 $ 1,291 (1) Represents loans and leases collectively evaluated for impairment in accordance with ASC 450-20, Loss Contingencies, (2) Represents loans individually evaluated for impairment in accordance with ASU 310-10, Receivables, (3) Excludes $89.2 million acquired Leveraged Finance loans which the Company elected to record at fair value.
Summary of Company's Investment in Nonaccrual Loans	Below is a summary of the Company’s investment in nonaccrual loans. Recorded Investment in Nonaccrual Loans March 31, 2016 December ($ in thousands) Leveraged Finance $ 106,753 $ 103,563 Business Credit — — Real Estate 7,705 7,705 Equipment Finance — — Total $ 114,458 $ 111,268
Summary of Types of Concessions With Respect To TDRs	A summary of the types of concessions that the Company made with respect to TDRs at March 31, 2016 and December 31, 2015 is provided below: Group I Group II ($ in thousands) March 31, 2016 $ 181,224 $ 150,438 December 31, 2015 $ 183,573 $ 162,986 Note: A loan may be included in both restructuring groups, but not repeated within each group.
Summary of the Company's Loans Classified as TDR	Below is a summary of the Company’s loans which were newly classified as TDR and existing TDR loans which subsequently defaulted, in each case during the periods presented For the Three Months Ended March 31, 2016 Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Investment in TDR Subsequently Defaulted ($ in thousands) Leveraged Finance $ — $ — $ — Real Estate — — — Equipment Finance — — — Total $ — $ — $ — For the Year Ended December 31, 2015 Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Investment in TDR Subsequently Defaulted ($ in thousands) Leveraged Finance $ 13,650 $ 13,650 $ 29,339 Business Credit — — — Real Estate* 27,704 27,704 — Equipment Finance 922 922 — Total $ 42,276 $ 42,276 $ 29,339 *The pre- modification and post- modification outstanding recorded investment within Real Estate were previously reported as $207,704; due to a pre- modification and post- modification outstanding recorded investments were reported as $222,276. These amounts should have been reported at $27,704 and $42,276, respectively, and have been corrected in the table above. The Company determined the error to be immaterial to the previously reported consolidated financials statements.
Sets Forth a Breakdown of Troubled Debt Restructurings	The following sets forth a breakdown of troubled debt restructurings at March 31, 2016 and December 31, 2015: As of March 31, 2016 Accrual Status For the three months ($ in thousands) Loan Type Accruing Nonaccrual Impaired Balance Specific Allowance Charged-off Leveraged Finance $ 52,940 $ 92,317 $ 145,257 $ 27,530 $ 1,083 Real Estate 27,565 7,705 35,270 4,375 — Equipment Finance 697 — 697 — — Total $ 81,202 $ 100,022 $ 181,224 $ 31,905 $ 1,083 As of December 31, 2015 Accrual Status For the year ($ in thousands) Loan Type Accruing Nonaccrual Impaired Balance Specific Allowance Charged-off Leveraged Finance $ 53,883 $ 93,977 $ 147,860 $ 24,958 $ 4,000 Business Credit — — — — — Real Estate 27,236 7,705 34,941 — — Equipment Finance 772 — 772 — — Total $ 81,891 $ 101,682 $ 183,573 $ 24,958 $ 4,000
Age Analysis of Delinquent Receivables	An age analysis of the Company’s delinquent receivables is as follows: 60-89 Days Past Due Greater than 90 Days Total Past Due Current Total Loans and Leases Investment > 60 Days & Accruing ($ in thousands) March 31, 2016 Leveraged Finance $ — $ 18,908 $ 18,908 $ 2,923,570 $ 2,942,478 $ — Real Estate — — — 44,587 44,587 — Equipment Finance — — — 175,506 175,506 — Total $ — $ 18,908 $ 18,908 $ 3,143,663 $ 3,162,571 $ — 60-89 Days Past Due Greater than 90 Days Total Past Due Current Total Loans and Leases Investment in > 60 Days & Accruing ($ in thousands) December 31, 2015 Leveraged Finance $ — $ 27,165 $ 27,165 $ 2,600,149 $ 2,627,314 $ 8,530 Business Credit — — — 342,281 342,281 — Real Estate — — — 100,732 100,732 — Equipment Finance — — — 173,253 173,253 — Total $ — $ 27,165 $ 27,165 $ 3,216,415 $ 3,243,580 $ 8,530
Summary Activity in the Allowance for Credit Losses	A summary of the activity in the allowance for credit losses is as follows: Three Months Ended March 31, 2016 Leveraged Finance Business Credit Real Estate Equipment Finance Total ($ in thousands) Balance, beginning of period $ 54,788 $ 1,991 $ 656 $ 1,291 $ 58,726 Provision for credit losses—general 227 (172 ) 965 51 1,071 Provision for credit losses—specific 12,573 — 4,069 — 16,642 Reversal due to sale of Business Credit — (1,819 ) — — (1,819 ) Loans charged off, net of recoveries (6,060 ) — (1,268 ) — (7,328 ) Balance, end of period $ 61,528 $ — $ 4,422 $ 1,342 $ 67,292 Balance, end of period—specific $ 32,960 $ — $ 4,375 $ — $ 37,335 Balance, end of period—general $ 28,568 $ — $ 47 $ 1,342 $ 29,957 Average balance of impaired loans $ 109,342 $ — $ 4,607 $ — $ 113,949 Average net book value of impaired leases $ — $ — $ — $ — $ — Interest recognized from impaired loans and leases $ 1,896 $ — $ 47 $ — $ 1,943 Loans and leases (1) Loans individually evaluated with specific allowance $ 133,733 $ — $ 28,058 $ — $ 161,791 Loans individually evaluated with no specific allowance 43,119 — 7,212 697 51,028 Acquired impaired loan 1,775 — — — 1,775 Loans and leases collectively evaluated without specific allowance 2,674,607 — 9,317 174,809 2,858,733 Total loans and leases $ 2,853,234 $ — $ 44,587 $ 175,506 $ 3,073,327 (1) Excludes $89.2 million of acquired Leveraged Finance loans which the Company elected to record at fair value. Three Months Ended March 31, 2015 Leveraged Finance Business Credit Real Estate Equipment Finance Total ($ in thousands) Balance, beginning of period $ 41,480 $ 1,334 $ 257 $ 622 $ 43,693 Provision for credit losses—general 3,734 (4 ) 26 241 3,997 Provision for credit losses—specific 2,912 –– 69 — 2,981 Loans charged off, net of recoveries 68 –– — — 68 Balance, end of period $ 48,194 $ 1,330 $ 352 $ 863 $ 50,739 Balance, end of period—specific $ 23,637 $ — $ 69 $ — $ 23,706 Balance, end of period—general $ 24,557 $ 1,330 $ 283 $ 863 $ 27,033 Average balance of impaired loans $ 164,902 $ — $ 51,723 $ — $ 216,625 Interest recognized from impaired loans $ 2,189 $ — $ 567 $ — $ 2,756 Loans and leases Loans individually evaluated with specific allowance $ 101,503 $ — $ 27,661 $ — $ 129,164 Loans individually evaluated with no specific allowance 63,044 — 23,512 — 86,556 Loans and leases collectively evaluated without specific allowance 1,919,458 264,910 58,449 113,665 2,356,482 Total loans and leases $ 2,084,005 $ 264,910 $ 109,622 $ 113,665 $ 2,572,202

Restricted Cash (Tables)

Restricted Cash (Tables)	3 Months Ended
	Mar. 31, 2016
Cash And Cash Equivalents [Abstract]
Summary of Restricted Cash	Restricted cash as of March 31, 2016 and December 31, 2015 was as follows: March 31, 2016 December 31, 2015 ($ in thousands) Collections on loans pledged to credit facilities $ 60,162 $ 67,892 Principal and interest collections on loans held in trust and prefunding amounts 95,092 85,823 Customer escrow accounts 92 277 Total $ 155,346 $ 153,992

Investments in Debt Securitie29

Investments in Debt Securities, Available-for-Sale (Tables)	3 Months Ended
	Mar. 31, 2016
Investments Debt And Equity Securities [Abstract]
Summary of Amortized Cost of Investments in Debt Securities	Amortized cost of investments in debt securities as of March 31, 2016 and December 31, 2015 was as follows: March 31, 2016 December 31, 2015 ($ in thousands) Investments in debt securities—gross $ 111,020 $ 111,020 Unamortized discount (6,601 ) (6,765 ) Investments in debt securities—amortized cost $ 104,419 $ 104,255
Summary of Amortized Cost, Gross Unrealized Holding Gains, Gross Unrealized Holding Losses, and Fair Value of Available-for-Sale Securities	The amortized cost, gross unrealized holding gains, gross unrealized holding losses, and fair value of available-for-sale securities at March 31, 2016 and December 31, 2015 were as follows: Amortized cost Gross unrealized holding gains Gross unrealized holding losses Fair value ($ in thousands) March 31, 2016 Collateralized loan obligations $ 104,419 $ — $ (14,732 ) $ 89,687 $ 104,419 $ — $ (14,732 ) $ 89,687 Amortized cost Gross unrealized holding gains Gross unrealized holding losses Fair value ($ in thousands) December 31, 2015 Collateralized loan obligations $ 104,255 $ — $ (10,078 ) $ 94,177 $ 104,255 $ — $ (10,078 ) $ 94,177
Summary of Unrealized Loss on Investments	The following is an analysis of the continuous periods during which the Company has held investment positions which were carried at an unrealized loss as of March 31, 2016 and December 31, 2015: March 31, 2016 Less than 12 Months Greater than or Equal to 12 Months Total ($ in thousands) Number of positions 18 5 23 Fair value $ 76,038 $ 13,648 $ 89,686 Amortized cost 87,519 16,899 104,418 Unrealized loss $ (11,481 ) $ (3,251 ) $ (14,732 ) December 31, 2015 Less than 12 Months Greater than or Equal to 12 Months Total ($ in thousands) Number of positions 20 3 23 Fair value $ 86,245 $ 7,932 $ 94,177 Amortized cost 95,624 8,631 104,255 Unrealized loss $ (9,379 ) $ (699 ) $ (10,078 )
Summary of Maturities of Debt Securities	Maturities of debt securities classified as available-for-sale were as follows at March 31, 2016 and December 31, 2015: March 31, 2016 December 31, 2015 Amortized cost Fair value Amortized cost Fair value ($ in thousands) Available-for-sale: Due one year or less $ — $ — $ — $ — Due after one year through five years — — — — Due after five years through ten years 34,090 28,111 34,017 30,470 Due after ten years through fifteen years 70,329 61,576 70,238 63,707 Total $ 104,419 $ 89,687 $ 104,255 $ 94,177

Borrowings (Tables)

Borrowings (Tables)	3 Months Ended
	Mar. 31, 2016
2007-1 CLO Trust [Member]
Debt Instrument [Line Items]
Summary of Borrowings	The following table sets forth selected information with respect to the 2007-1 CLO Trust: Notes originally issued Outstanding balance March 31, 2016 Interest rate Legal final maturity Ratings (S&P/Moody’s/ Fitch)(1) ($ in thousands) 2007-1 CLO Trust Class A-1 $ 336,500 $ 17,021 Libor+0.24% September 30, 2022 AAA/Aaa/AAA Class A-2 100,000 5,354 Libor+0.26% September 30, 2022 AAA/Aaa/AAA Class B 24,000 24,000 Libor+0.55% September 30, 2022 AA+/Aa1/AA Class C 58,500 58,293 Libor+1.30% September 30, 2022 A-/A2/A Class D 27,000 21,000 Libor+2.30% September BBB-/Baa2/BBB+ $ 546,000 $ 125,668 (1) These ratings were initially given in June 2007, are unaudited and are subject to change from time to time.
2012-2 CLO [Member]
Debt Instrument [Line Items]
Summary of Borrowings	The following table sets forth selected information with respect to the 2012-2 CLO: Notes originally issued Outstanding balance March 31, 2016 Interest rate Legal final maturity Ratings (Moody’s/ S&P)(1) ($ in thousands) 2012-2 CLO Class A $ 190,700 $ 190,700 Libor+1.90% January Aaa/AAA Class B 26,000 26,000 Libor+3.25% January 20, 2023 Aa2/N/A Class C 35,200 35,200 Libor+4.25% January 20, 2023 A2/N/A Class D 11,400 11,400 Libor+6.25% January 20, 2023 Baa2/N/A Class E 16,300 16,300 Libor+6.75% January 20, 2023 Ba1/N/A $ 279,600 $ 279,600 (1) These ratings were initially given in December 2012, are unaudited and are subject to change from time to time.
2013-1 CLO [Member]
Debt Instrument [Line Items]
Summary of Borrowings	The following table sets forth selected information with respect to the 2013-1 CLO: Notes originally issued Outstanding balance March 31, 2016 Interest rate Legal final maturity Ratings (S&P/ Moody’s)(2) ($ in thousands) 2013-1 CLO Class A-T $ 202,600 $ 202,600 Libor+1.65% September AAA/Aaa Class A-R 35,000 27,000 (1) September 20, 2023 AAA/Aaa Class B 38,000 38,000 Libor+2.30% September 20, 2023 AA/N/A Class C 36,000 36,000 Libor+3.80% September 20, 2023 A/N/A Class D 21,000 21,000 Libor+4.55% September 20, 2023 BBB/N/A Class E 6,000 6,000 Libor+5.30% September 20, 2023 BBB-/N/A $ 338,600 $ 330,600 (1) Class A-R Notes accrue interest at the Class A-R CP Rate so long as they are held by a CP Conduit, and otherwise will accrue interest at the Class A-R LIBOR Rate or, in certain circumstances, the Class A-R Base Rate, but in no event shall the interest rate payable pari passu with the Class A-T Notes exceed the Class A-R Waterfall Rate Cap. (2) These ratings were initially given in September 2013, are unaudited and are subject to change from time to time.
2014-1 CLO [Member]
Debt Instrument [Line Items]
Summary of Borrowings	The following table sets forth selected information with respect to the 2014-1 CLO: Notes originally issued Outstanding balance March 31, 2016 Interest rate Legal final maturity Ratings (Moody’s)(2) ($ in thousands) 2014-1 CLO Class A $ 202,500 $ 202,500 Libor+1.80% April Aaa Class B-1 20,000 20,000 Libor+2.60% April 20, 2025 Aa2 Class B-2 13,250 13,250 (1) April 20, 2025 Aa2 Class C 30,250 30,250 Libor+3.60% April 20, 2025 A2 Class D 23,500 23,500 Libor+4.75% April 20, 2025 Baa3 $ 289,500 $ 289,500 (1) Class B-2 Notes accrue interest at a fixed rate of 4.902%. (2) These ratings were initially given in April 2014, are unaudited and are subject to change from time to time.
2015-1 CLO [Member]
Debt Instrument [Line Items]
Summary of Borrowings	The following table sets forth selected information with respect to the 2015-1 CLO: Notes originally issued Outstanding balance March 31, 2016 Interest rate Legal final maturity Ratings (Moody’s/Fitch)(2) ($ in thousands) 2015-1 CLO Class A-1 $ 253,500 $ 253,500 Libor+1.80% January 20, 2027 Aaa/AAA Class A-2 35,000 35,000 (1) January 20, 2027 Aaa/AAA Class B 50,000 50,000 Libor+2.80% January 20, 2027 Aa2/ N/A Class C 38,500 38,500 Libor+3.85% January 20, 2027 A2/N/A Class D 33,250 33,250 Libor+5.50% January 20, 2027 Baa3/N/A $ 410,250 $ 410,250 (1) Class A-2 Notes accrue interest at a spread over Libor of 1.65% from the closing date to, but excluding March 20, 2017, and 2.00% thereafter. (2) These ratings were initially given in March 2015, are unaudited and are subject to change from time to time.
2015-1 ABS [Member]
Debt Instrument [Line Items]
Summary of Borrowings	The following table sets forth selected information with respect to the 2015-1 ABS: Notes originally issued Outstanding balance March 31, 2016 Interest rate Legal final maturity Ratings (DBRS)(1) ($ in thousands) 2015-1 ABS Class A $ 70,046 44,034 3.27% April 15, 2019 AA $ 70,046 $ 44,034 (1) These ratings were initially given in September 2015, are unaudited and are subject to change from time to time.
2015-2 CLO [Member]
Debt Instrument [Line Items]
Summary of Borrowings	The following table sets forth selected information with respect to the 2015-2 CLO: Notes originally issued Outstanding balance March 31, 2016 Interest rate Legal final maturity Ratings (Moody’s/Fitch)(2) ($ in thousands) 2015-2 CLO Class A-1 $ 205,000 $ 205,000 Libor+2.00% August 25, 2027 Aaa/AAA Class A-2 23,000 23,000 (1) August 25, 2027 Aaa/AAA Class B 40,000 40,000 Libor+2.90% August 25, 2027 Aa2/ N/A Class C 26,250 26,250 Libor+3.95% August 25, 2027 A2/N/A Class D 28,500 28,500 Libor+5.25% August 25, 2027 Baa3/N/A Class E 5,000 5,000 Libor+7.50% August 25, 2027 Ba3/N/A $ 327,750 $ 327,750 (1) Class A-2 Notes accrue interest at a fixed rate of 3.461%. (2) These ratings were initially given in August 2015, are unaudited and are subject to change from time to time.
2016-1 CLO [Member]
Debt Instrument [Line Items]
Summary of Borrowings	The following table sets forth selected information with respect to the 2016-1 CLO: Notes originally issued Outstanding balance March 31, 2016 Interest rate Legal final maturity Ratings (Moody’s/Fitch)(2) ($ in thousands) 2016-1 CLO Class A-1 $ 176,500 $ 176,500 Libor+2.30% February 25, 2028 Aaa/AAA Class A-2 20,000 20,000 (1) February 25, 2028 Aaa/AAA Class B 36,750 36,750 Libor+3.75% February 25, 2028 Aa2/ N/A Class C 22,500 22,500 Libor+5.40% February 25, 2028 A2/N/A $ 255,750 $ 255,750 (1) Class A-2 Notes accrue interest at a fixed rate of 3.44%. (2) These ratings were initially given in February 2016, are unaudited and are subject to change from time to time.

Repurchase Agreements (Tables)

Repurchase Agreements (Tables)	3 Months Ended
	Mar. 31, 2016
Banking And Thrift [Abstract]
Schedule of Repurchase Agreements	Three Months Ended March 31, 2016 Year Ended December 31, 2015 ($ in thousands) Outstanding at end of period $ 95,247 $ 96,789 Deferred financing fees and debt discount $ 462 $ 565 Repurchase agreements, net $ 94,785 $ 96,224 Weighted average rate at end of period 3.80 % 3.67 %

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Schedule of Authorized Capital	As of March 31, 2016 and December 31, 2015, the Company’s authorized capital consists of preferred and common stock and the following was authorized and outstanding: March 31, 2016 December 31, 2015 Shares authorized Shares outstanding Shares authorized Shares outstanding (In thousands) Preferred stock 5,000 — 5,000 — Common stock 145,000 47,639 145,000 46,527
Schedule of Restricted Stock Activity	Restricted stock activity for the three months ended March 31, 2016 was as follows: Shares Grant-date fair value ($ in thousands) Non-vested as of December 31, 2015 496,704 $ 5,629 Granted 523,903 3,285 Vested (181,626 ) (2,153 ) Forfeited (555 ) (9 ) Non-vested as of March 31, 2016 838,426 $ 6,752
Schedule of Stock Option Activity	Stock option activity for the three months ended March 31, 2016 was as follows: Options Outstanding as of December 31, 2015 2,513,532 Granted — Exercised (1,634,513 ) Forfeited (7,500 ) Outstanding as of March 31, 2016 871,519 Vested as of March 31, 2016 871,519 Exercisable as of March 31, 2016 871,519

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Computations of Basic and Diluted Income Per Share	The Company utilizes the two-class method to calculate earnings per share. The two-class method allocates net income to each class of common stock and participating security. Unvested share-based payment awards granted to certain employees and board members entitle holders to same rights as outstanding and vested common stock. These securities are considered to be participating securities and are included in the allocation for computing earnings per share under this method. Income is allocated to common shareholders and participating securities under the two-class method based upon the proportion of each to the total weighted average shares available. The computations of basic and diluted income per share for the three months ended March 31, 2016 and 2015 are as follows: Three Months Ended March 31, 2016 2015 (In thousands) Numerator: Net income to common shareholders $ 4,009 $ 2,539 Net income allocated to participating securities - basic and diluted 59 25 Net income allocated to common shareholders - basic and diluted 3,950 2,514 Denominator: Denominator for basic earnings per common share 46,447 46,770 Denominator for diluted earnings per common share: Denominator for basic earnings per common share 46,447 46,770 Potentially dilutive securities - options — 2,636 Potentially dilutive securities – restricted stock — — Potentially dilutive securities - warrants — — Total weighted average diluted shares 46,447 49,406 Earnings per common share Basic $ 0.09 $ 0.05 Diluted $ 0.09 $ 0.05

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	3 Months Ended
	Mar. 31, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Schedule of Unconsolidated Variable Interest Entities	The following table sets forth the information with respect to the unconsolidated VIEs for which the Company holds a variable interest in as of March 31, 2016 and December 31, 2015: March 31, 2016 December 31, 2015 ($ in thousands) Unconsolidated VIE assets $ 484,678 $ 483,581 Unconsolidated VIE liabilities 359,394 362,383 Equity interest included on the Consolidated Balance Sheet 23,903 23,910 Maximum risk of loss (1) 24,316 24,327 (1) Includes equity investment the Company has made, or is required to make, and any earned but uncollected management and incentive fees. The Company does not record performance and incentive allocations until the respective measurement period has ended.

Financial Instruments with Of35

Financial Instruments with Off-Balance Sheet Risk (Tables)	3 Months Ended
	Mar. 31, 2016
Commitments And Contingencies Disclosure [Abstract]
Financial Instruments with Off-Balance Sheet Risk	Financial instruments with off-balance sheet risk are summarized as follows: March 31, 2016 December 31, 2015 ($ in thousands) Unused lines of credit $ 280,283 $ 601,805 Standby letters of credit 8,745 8,696

Total Return Swap (Tables)

Total Return Swap (Tables)	3 Months Ended
	Mar. 31, 2016
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Schedule of Receivable and Realized Loss on Total Return Swap	At March 31, 2016 : Net Receivable Net Realized Gains/(Losses) ($ in thousands) Interest income from TRS portfolio $ — $ 2,355 TRS interest expense — 848 Loss on TRS — (6,122 ) Due to Citibank (10,984 ) — TRS receivable 1,145 — At December 31, 2015, the receivable and realized loss on the total return swap on the consolidated balance sheet and consolidated statements of operations consisted of the following: Net Receivable Net Realized Gains/(Losses) ($ in thousands) Interest income from TRS portfolio $ — $ 8,667 TRS interest expense — 2,652 Realized loss on TRS (5,816 ) (4,822 ) TRS receivable 1,377 —

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis	The following table presents recorded amounts of assets and liabilities measured at fair value on a recurring and nonrecurring basis as of March 31, 2016, by caption in the consolidated balance sheet and by ASC 820 valuation hierarchy (as described above). Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Carrying Value in Consolidated Balance Sheet ($ in thousands) Recurring Basis: Assets: Investments in debt securities, available-for-sale $ — $ — $ 89,687 $ 89,687 Loans — 89,244 — $ 89,244 Total assets recorded at fair value on a recurring basis $ — $ — $ 89,687 $ 178,931 Nonrecurring Basis: Collateral dependent impaired loans $ — $ — $ 23,767 $ 23,767 Loans, held-for-sale — 129,284 19,502 $ 148,786 Other real estate owned/repossessed assets — — 250 $ 250 Total assets recorded at fair value on a nonrecurring basis $ — $ 129,284 $ 43,519 $ 172,803 The following table presents recorded amounts of assets and liabilities measured at fair value on a recurring and nonrecurring basis as of December 31, 2015, by caption in the consolidated balance sheet and by ASC 820 valuation hierarchy (as described above). Quoted Prices in Active Markets for Identical (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Carrying Value in Consolidated Balance Sheet ($ in thousands) Recurring Basis: Assets: Investments in debt securities, available-for-sale $ — $ — $ 94,177 $ 94,177 Total assets recorded at fair value on a recurring basis $ — $ — $ 94,177 $ 94,177 Liabilities: TRS — 4,439 — 4,439 Total liabilities recorded at fair value on a recurring basis $ — $ 4,439 $ — $ 4,439 Nonrecurring Basis: Collateral dependent impaired loans — — 27,473 27,473 Loans, held-for-sale — 140,151 — 140,151 Other real estate owned/repossessed assets — — 250 250 Total assets recorded at fair value on a nonrecurring basis $ — $ 140,151 $ 27,723 $ 167,874
Summary of Significant Unobservable Inputs and Valuation Techniques	The following table presents a summary of significant unobservable inputs and valuation techniques of the Company’s Level 3 fair value measurements at March 31, 2016. Fair Valuation Techniques Unobservable Input Range ($ in thousands) Financial assets: Investments in debt securities, available-for-sale $ 89,687 Third-party Pricing Loans and leases, net 23,767 Market comparables Valuation model Cost to sell, Marketability discount 3% - Other real estate/repossessed assets 250 Appraisal Cost to sell 3%- 7% Total: $ 113,704 The following table presents a summary of significant unobservable inputs and valuation techniques of the Company’s Level 3 fair value measurements at December 31, 2015. Fair value Valuation Techniques Unobservable Input Range ($ in thousands) Financial assets: Investments in debt securities, available-for-sale $ 94,177 Third-party pricing Pricing Loans and leases, net 27,473 Market comparables Valuation model Cost to sell, Marketability discount 3% - Other real estate owned/repossessed assets 250 Appraisal Cost to sell 3% - 7% Total: $ 121,900
Reconciliation of Financial Instruments Measured on Recurring Basis and Classified as Level 3 Inputs	For the three months ended March 31, 2016: Investments Debt Securities, Available-for-sale ($ Balance as of December 31, 2015 $ 94,177 Total gains or losses (realized/unrealized) Included in earnings 176 Included in other comprehensive income (4,666 ) Purchases — Issuances — Settlements — Balance as of March 31, 2016 $ 89,687 For the three months ended March 31, 2015: Investments Debt Securities, Available-for-sale ($ Balance as of December 31, 2014 $ 46,881 Total gains or losses (realized/unrealized) Included in earnings 111 Included in other comprehensive income 185 Purchases 32,714 Issuances — Settlements — Balance as of March 31, 2015 $ 79,891
Carrying Amounts and Estimated Fair Values of Company's Financial Instruments	The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments at March 31, 2016 and December 31, 2015. The fair value of a financial instrument is the amount at which the instrument could be exchanged in a current transaction between willing parties. March 31, 2016 December 31, 2015 Carrying amount Fair Carrying amount Fair ($ in thousands) Financial assets: Cash and cash equivalents $ 150,657 $ 150,657 $ 35,933 $ 35,933 Restricted cash 155,346 155,346 153,992 153,992 Cash collateral on deposit with custodian 19,442 19,442 61,081 61,081 Investments in debt securities available-for-sale 89,687 89,687 94,177 94,177 Loans held-for-sale, net 468,443 471,433 478,785 483,781 Loans and leases, net 3,029,315 3,012,180 3,134,072 3,147,117 Other assets 14,534 14,534 14,255 14,255 Financial liabilities: Credit facilities, net $ 538,512 $ 538,512 $ 832,686 $ 843,896 Term debt, net 2,044,931 2,027,384 1,821,519 1,819,344 Senior notes, net 372,560 342,000 372,153 368,600 Subordinated notes, net 235,855 283,999 209,509 266,857 Repurchase agreements, net 94,785 99,964 96,224 101,433 Other liabilities — — 4,439 4,439
Carrying Amounts, Estimated Fair Values and Placement in Fair Value Hierarchy of Financial Instruments	The following table presents the carrying amounts, estimated fair values, and placement in the fair value hierarchy of the Company’s financial instruments at March 31, 2016 and December 31, 2015. The table excludes financial instruments for which the carrying amount approximates fair value such as cash and cash equivalents, restricted cash, investments in debt securities available-for-sale, and financial information disclosed above. Fair Value Measurements March 31, 2016 Carrying amount Fair Level 1 Level 2 Level 3 ($ in thousands) Financial assets: Loans and leases, net $ 3,029,315 $ 3,012,180 $ — $ 89,244 $ 2,922,936 Loans held-for-sale, net 468,443 471,433 — 451,931 19,502 Other assets 14,534 14,534 — — 14,534 Financial liabilities: Credit facilities, net 538,512 538,512 — 538,512 — Term debt securitizations, net 2,044,931 2,027,384 — 2,027,384 — Repurchase agreements, net 94,785 99,964 — 99,964 — Senior notes, net 372,560 342,000 — 342,000 — Subordinated notes, net 235,855 283,999 — — 283,999 Fair Value Measurements December 31, 2015 Carrying amount Fair Level 1 Level 2 Level 3 ($ in thousands) Financial assets: Loans and leases, net $ 3,134,072 $ 3,147,117 $ — $ — $ 3,147,117 Loans held-for-sale, net 478,785 483,781 — 483,781 — Other assets 14,255 14,255 — — 14,255 Financial liabilities: Credit facilities, net 832,686 843,896 — 843,896 — Term debt securitizations, net 1,821,519 1,819,344 — 1,819,344 — Repurchase agreements, net 96,224 101,433 — 101,433 — Senior notes, net 372,153 368,600 — 368,600 — Subordinated notes, net 209,509 266,857 — — 266,857 Other liabilities 4,439 4,439 4,439

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Summary of Assets and Statement of Operations	The following tables presents the statement of operations for the Company’s reportable segments: Three Months Ended March 31, 2016 Commercial Lending Asset Management Consolidated Total Net interest income: $ 21,857 $ 662 $ 22,519 Provision for loan losses 17,713 — 17,713 Net interest income after provision 4,144 662 4,806 Noninterest income: Management fees — 3,047 3,047 Performance fees — 394 394 Other lending fees 1,193 — 1,193 Other noninterest income (1) 14,630 (112 ) 14,518 Total noninterest income: 15,823 3,329 19,152 Non-interest expense 14,835 2,233 17,068 Income before income taxes $ 5,132 $ 1,758 $ 6,890 Income tax expense 2,881 Net income $ 4,009 (1) Includes fair value adjustments on Loans held-for-sale and fair value portfolio. Three months ended March 31, 2015 Commercial Lending Asset Management Consolidated Total ($ in thousands) Net interest income $ 17,828 $ (413 ) $ 17,415 Provision for loan losses 6,978 — 6,978 Net interest income after provision 10,850 (413 ) 10,437 Noninterest income: Management fees — 920 920 Performance fees — — — Other lending fees 1,158 — 1,158 Other noninterest income (2) 2,048 — 2,048 Total Noninterest income: 3,206 920 4,126 Non-interest expense 9,886 346 10,232 Income before income taxes $ 4,170 $ 161 $ 4,331 Income tax expense 1,792 Net income $ 2,539 (2) Includes fair value adjustment on Loans held-for-sale. March 31, 2016 Commercial Lending Asset Management Total ($ in thousands) Loans and leases, gross $ 3,073,327 $ 89,244 $ 3,162,571 Loans held-for-sale, gross 475,383 — 475,383 Investments in debt securities, available for sale, net of mark — 96,288 96,288 Other assets 234,593 39,109 273,702 Total Balance Sheet Assets 3,783,303 224,641 4,007,944 Illiquid Credit funds * — 818,627 818,627 Liquid/Tradeable Credit * — 2,067,040 2,067,040 Total Assets 3,783,303 3,110,308 6,893,611 Less: Other assets (234,593 ) (39,109 ) (273,702 ) Total Managed Assets $ 3,548,710 $ 3,071,199 $ 6,619,909 December 31, 2015 Commercial Lending Asset Management Total ($ in thousands) Loans and leases, gross $ 3,243,580 $ - $ 3,243,580 Loans held-for-sale, gross 485,874 — 485,874 Investments in debt securities, available for sale, net of mark — 100,942 100,942 Other assets 205,256 15,731 220,987 Total Balance Sheet Assets 3,934,710 116,673 4,051,383 Illiquid Credit funds * — 824,573 824,573 Liquid/Tradeable Credit * — 2,294,497 2,294,497 Total Assets 3,934,710 3,235,743 7,170,453 Less: Other assets (205,256 ) (15,731 ) (220,987 ) Total Managed Assets $ 3,729,454 $ 3,220,012 $ 6,949,466 *Assets managed by the Company for the Illiquid Credit and Liquid/Tradeable Credit Funds are not Assets of the Company and are not included in the Consolidated Total Assets as reflected in the Condensed Consolidated Balance Sheet.

Organization - Commitments (Det

Organization - Commitments (Details)	3 Months Ended
	Mar. 31, 2016USD ($)
Other Commitments [Line Items]
Possible balance sheet exposure to a single customer - exceed	$ 35,000,000
Minimum [Member]
Other Commitments [Line Items]
Range of commitment per borrower	10,000,000
Maximum [Member]
Other Commitments [Line Items]
Range of commitment per borrower	$ 50,000,000

Organization - Additional Infor

Organization - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2016USD ($)Segment
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Number of operating segment | Segment	2
Minimum [Member] | Commercial Lending Segment
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Annual cash flow (EBITDA) of companies financed through specialized lending groups	$ 10,000,000
Maximum [Member] | Commercial Lending Segment
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Annual cash flow (EBITDA) of companies financed through specialized lending groups	$ 50,000,000

Summary of Significant Accoun41

Summary of Significant Accounting Policies - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2016Segment
Accounting Policies [Abstract]
Number of reportable segments	2

Summary of Significant Accoun42

Summary of Significant Accounting Policies - ASU 2015-03 Impact on Condensed Consolidated Balance Sheets - (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Credit facilities, net	$ 538,512	$ 832,686
Term debt securitizations, net	2,044,931	1,821,519
Senior notes, net	372,560	372,153
Subordinated notes, net	235,855	209,509
Repurchase agreements	$ 94,785	96,224
ASU 2015-03 [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Credit facilities, net		832,686
Term debt securitizations, net		1,821,519
Senior notes, net		372,153
Subordinated notes, net		209,509
Repurchase agreements		96,224
ASU 2015-03 [Member] | Previously Reported [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Deferred financing costs, net		40,733
Credit facilities, net		843,896
Term debt securitizations, net		1,837,889
Senior notes, net		379,232
Subordinated notes, net		215,018
Repurchase agreements		$ 96,789

Acquisition and Disposition A43

Acquisition and Disposition Activities - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2016	Mar. 31, 2015
Business Acquisition [Line Items]
Gain on sale of Business Credit	$ 22,500	$ 22,511
Transaction related cost	2,500
Pretax earnings		$ 1,900	$ 1,900
Income (loss) from discontinued operations during disposition inclusive of transaction related costs	$ (300)
Customer Contracts and Related Customer Relationships [Member]
Business Acquisition [Line Items]
Intangible asset amortization period		33 months
Intangible asset originally estimated amortization period		12 months
Feingold O’Keeffe Capital, LLC [Member]
Business Acquisition [Line Items]
Percentage of outstanding limited liability interests acquired	100.00%	100.00%

Loans Held-for-Sale, Loans, L44

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Loans Held-for-Sale (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans held-for-sale	$ 3,162,571	$ 3,243,580
Deferred loan fees, net	(66,388)	(51,249)
Total loans held-for-sale, net	3,029,315	3,134,072
Leveraged Finance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans held-for-sale	2,942,478	2,627,314
Finance Receivables Loans Held For Sale [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans held-for-sale	475,383	485,874
Deferred loan fees, net	(6,940)	(7,089)
Total loans held-for-sale, net	468,443	478,785
Finance Receivables Loans Held For Sale [Member] | Leveraged Finance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans held-for-sale	$ 475,383	$ 485,874

Loans Held-for-Sale, Loans, L45

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Additional Information (Detail)	3 Months Ended		9 Months Ended	12 Months Ended
	Mar. 31, 2016USD ($)Grouprisk_factorLoans	Mar. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans sold, aggregate amount	$ 4,000,000		$ 48,700,000
Loss on sale of loans, net	(107,000)	$ (15,000)
Payments to Purchase Loans Held-for-sale	138,900,000
Loan impairment	1,800,000
Non-accretable discount	$ 8,100,000
Number of specialized lending groups | Group	3
Loans and leases, net (including loans at fair value of $89,244 and $0, respectively)	$ 3,029,315,000			$ 3,134,072,000
Impaired loans	214,594,000			193,159,000
Impaired loans restructured and classified as TDR	181,200,000			183,600,000
Aggregate carrying value of equity investments	10,700,000			11,400,000
Recorded Investment in Nonaccrual Loans	114,458,000			111,268,000
Impaired loans, non-accrual status	5,100,000			38,200,000
Specific provisions for impaired loans during the year	16,600,000			9,500,000
Specific allowance for impaired loans	37,300,000
Impaired loans with specific allowance	161,800,000			121,100,000
Impaired loans related to delinquent loans greater than 60 days	$ 18,900,000			$ 18,600,000
Number of days past due to classified as delinquent	60 days			60 days
Impaired loans related to delinquent loans	$ 1,800,000			$ 2,800,000
Loans charged-off, net of recoveries	7,328,000	(68,000)
Aggregate outstanding balance of non-accrual loan returned to performing status				900,000
Specific allowance for impaired loans				26,800,000
Investment in TDR Subsequently Defaulted	$ 0			29,339,000
Minimum number of years of database for risk rating analysis	25 years
Number Of Risk Factors Used To Determine Allowance For Credit Losses | risk_factor	10
Allowance for unfunded commitments	$ 66,868,000			58,259,000
Allowance for credit losses	67,292,000	50,739,000		$ 58,726,000	$ 43,693,000
Provision for credit losses	17,713,000	6,978,000
Provision expense to loans	$ 1,000,000
Financing receivable percentage of impaired and troubled debt restructuring to all loans	6.00%			6.00%
Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans transferred | Loans	3
Commitments To Extend Credit [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for unfunded commitments	$ 400,000			$ 500,000
TDRs [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Impaired loans restructured and classified as TDR	181,224,000			183,573,000
Range of commitment per borrower	6,900,000
Specific allowance for impaired loans	31,905,000			24,958,000
Specific Reserve [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Impaired loans	1,100,000
Business Credit Portfolio [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Impaired loans	12,500,000
Non-accrual Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, recovered	6,100,000
Loans charged-off, net of recoveries				4,000,000
Non-accrual Loans [Member] | TDRs [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans charged-off, net of recoveries	1,100,000
Nonperforming Financing Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Range of commitment per borrower			$ 8,900,000	10,900,000
Criticized [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases, net (including loans at fair value of $89,244 and $0, respectively)	164,600,000			152,100,000
Impaired loans				143,600,000
Loans Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases, net (including loans at fair value of $89,244 and $0, respectively)	3,000,000,000			$ 3,100,000,000
Performing Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other performing loans purchased	47,600,000
Other than NCOF [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loss on sale of loans, net	(100,000)	$ (10,000)
Credit Funds [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held-for-sale an aggregate outstanding balance	439,700,000
Payments to Purchase Loans Held-for-sale	$ 89,500,000

Loans Held-for-Sale, Loans, L46

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Summary of Loans and Leases (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Financing Receivable, Impaired [Line Items]
Gross loans held-for-sale	$ 3,162,571	$ 3,243,580
Deferred loan fees, net	(66,388)	(51,249)
Allowance for loan and lease losses	(66,868)	(58,259)
Total loans held-for-sale, net	3,029,315	3,134,072
Leveraged Finance [Member]
Financing Receivable, Impaired [Line Items]
Gross loans held-for-sale	2,942,478	2,627,314
Allowance for loan and lease losses	(61,104)	(54,321)
Business Credit [Member]
Financing Receivable, Impaired [Line Items]
Gross loans held-for-sale		342,281
Allowance for loan and lease losses		(1,991)
Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Gross loans held-for-sale	44,587	100,732
Allowance for loan and lease losses	(4,422)	(656)
Equipment Finance [Member]
Financing Receivable, Impaired [Line Items]
Gross loans held-for-sale	175,506	173,253
Allowance for loan and lease losses	$ (1,342)	$ (1,291)

Loans Held-for-Sale, Loans, L47

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Summary of Loans and Leases (Parenthetical) (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Loans Held For Sale Loans And Allowance For Credit Losses [Abstract]
Loans at fair value	$ 89,244	$ 0

Loans Held-for-Sale, Loans, L48

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Summary of Activity Related to Accretable Discount (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Loans Held For Sale Loans And Allowance For Credit Losses [Abstract]
Purchased loans	$ 2,593
Accretion of income	(24)
Reduction due to payments or sale	(4)
Balance, end of year	$ 2,565

Loans Held-for-Sale, Loans, L49

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Summary of Impaired Loans (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Financing Receivable, Impaired [Line Items]
Investment, Net of Charge-offs	$ 214,594	$ 193,159
Investment, Net of Unamortized Discount/Premium	199,596	186,316
Unpaid Principal	263,052	227,511
Recorded Investment with a Related Allowance for Credit Losses	161,791	121,102
Recorded Investment, net, with a Related Allowance for Credit Losses	155,040	114,467
Recorded Investment without a Related Allowance for Credit Losses	52,803	72,057
Recorded Investment, net, without a Related Allowance for Credit Losses	44,556	71,849
Leveraged Finance [Member]
Financing Receivable, Impaired [Line Items]
Investment, Net of Charge-offs	178,627	157,446
Investment, Net of Unamortized Discount/Premium	163,703	150,692
Unpaid Principal	223,739	188,453
Recorded Investment with a Related Allowance for Credit Losses	133,733	113,397
Recorded Investment, net, with a Related Allowance for Credit Losses	127,004	106,762
Recorded Investment without a Related Allowance for Credit Losses	44,894	44,049
Recorded Investment, net, without a Related Allowance for Credit Losses	36,699	43,930
Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Investment, Net of Charge-offs	35,270	34,941
Investment, Net of Unamortized Discount/Premium	35,248	34,915
Unpaid Principal	38,616	38,286
Recorded Investment with a Related Allowance for Credit Losses	28,058	7,705
Recorded Investment, net, with a Related Allowance for Credit Losses	28,036	7,705
Recorded Investment without a Related Allowance for Credit Losses	7,212	27,236
Recorded Investment, net, without a Related Allowance for Credit Losses	7,212	27,210
Equipment Finance [Member]
Financing Receivable, Impaired [Line Items]
Investment, Net of Charge-offs	697	772
Investment, Net of Unamortized Discount/Premium	645	709
Unpaid Principal	697	772
Recorded Investment without a Related Allowance for Credit Losses	697	772
Recorded Investment, net, without a Related Allowance for Credit Losses	$ 645	$ 709

Loans Held-for-Sale, Loans, L50

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Evaluation Summary of Portfolio and Allowance for Loan and Lease Losses by Impairment (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance, Total	$ 66,868	$ 58,259
Investment, Collectively evaluated	2,858,733		$ 2,356,482
Total investment evaluated	3,073,327		2,572,202
Leveraged Finance [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance, Collectively evaluated	28,144	27,874
Allowance, Individually evaluated	32,960	26,447
Allowance, Total	61,104	54,321
Investment, Collectively evaluated	2,674,607	2,469,868	1,919,458
Investment, Individually evaluated	178,627	157,446
Total investment evaluated	2,853,234	2,627,314	2,084,005
Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance, Collectively evaluated	47	350
Allowance, Individually evaluated	4,375	306
Allowance, Total	4,422	656
Investment, Collectively evaluated	9,317	65,791	58,449
Investment, Individually evaluated	35,270	34,941
Total investment evaluated	44,587	100,732	109,622
Equipment Finance [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance, Collectively evaluated	1,342	1,291
Allowance, Total	1,342	1,291
Investment, Collectively evaluated	174,809	172,481	113,665
Investment, Individually evaluated	697	772
Total investment evaluated	$ 175,506	173,253	113,665
Business Credit [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance, Collectively evaluated		1,991
Allowance, Total		1,991
Investment, Collectively evaluated		342,281	264,910
Total investment evaluated		$ 342,281	$ 264,910

Loans Held-for-Sale, Loans, L51

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Evaluation Summary of Portfolio and Allowance for Loan and Lease Losses by Impairment (Parenthetical) (Detail) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Financing Receivable, Allowance for Credit Losses [Line Items]
Fair value of loans acquired	$ 2,027,384	$ 1,819,344
Leveraged Finance [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Weighted Average Risk Rating of Loans and Leases	5.1	5.1
Point Scale Used to Determine Weighted Average Risk Rating of Loans and Leases	12	12
Fair value of loans acquired	$ 89,200
Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Weighted Average Risk Rating of Loans and Leases	5.1	5.1
Point Scale Used to Determine Weighted Average Risk Rating of Loans and Leases	12	12
Equipment Finance [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Weighted Average Risk Rating of Loans and Leases	5.1	5.1
Point Scale Used to Determine Weighted Average Risk Rating of Loans and Leases	12	12
Business Credit [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Weighted Average Risk Rating of Loans and Leases		5
Point Scale Used to Determine Weighted Average Risk Rating of Loans and Leases		10

Loans Held-for-Sale, Loans, L52

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Summary of Company's Investment in Nonaccrual Loans (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Financing Receivable, Impaired [Line Items]
Recorded Investment in Nonaccrual Loans	$ 114,458	$ 111,268
Leveraged Finance [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment in Nonaccrual Loans	106,753	103,563
Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment in Nonaccrual Loans	$ 7,705	$ 7,705

Loans Held-for-Sale, Loans, L53

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Summary of Types of Concessions with Respect to TDRs (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Impaired loans restructured and classified as TDR	$ 181,200	$ 183,600
Group I [Member]
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Impaired loans restructured and classified as TDR	181,224	183,573
Group II [Member]
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Impaired loans restructured and classified as TDR	$ 150,438	$ 162,986

Loans Held-for-Sale, Loans, L54

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Summary of the Company's Loans Classified as TDR (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Financing Receivable, Modifications [Line Items]
Pre-Modification Outstanding Recorded Investment		$ 42,276,000
Post-Modification Outstanding Recorded Investment		42,276,000
Investment in TDR Subsequently Defaulted	$ 0	29,339,000
Leveraged Finance [Member]
Financing Receivable, Modifications [Line Items]
Pre-Modification Outstanding Recorded Investment		13,650,000
Post-Modification Outstanding Recorded Investment		13,650,000
Investment in TDR Subsequently Defaulted		29,339,000
Real Estate [Member]
Financing Receivable, Modifications [Line Items]
Pre-Modification Outstanding Recorded Investment		27,704,000
Post-Modification Outstanding Recorded Investment		27,704,000
Equipment Finance [Member]
Financing Receivable, Modifications [Line Items]
Pre-Modification Outstanding Recorded Investment		922,000
Post-Modification Outstanding Recorded Investment		$ 922,000

Loans Held-for-Sale, Loans, L55

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Summary of the Company's Loans Classified as TDR (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Mar. 31, 2016
Financing Receivable, Modifications [Line Items]
Pre-Modification Outstanding Recorded Investment	$ 42,276
Post-Modification Outstanding Recorded Investment	42,276
Impaired loans restructured and classified as TDR	183,600	$ 181,200
Real Estate [Member]
Financing Receivable, Modifications [Line Items]
Pre-Modification Outstanding Recorded Investment	27,704
Post-Modification Outstanding Recorded Investment	27,704
Previously Reported [Member]
Financing Receivable, Modifications [Line Items]
Impaired loans restructured and classified as TDR	222,276
Previously Reported [Member] | Real Estate [Member]
Financing Receivable, Modifications [Line Items]
Pre-Modification Outstanding Recorded Investment	207,704
Post-Modification Outstanding Recorded Investment	$ 207,704

Loans Held-for-Sale, Loans, L56

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Sets Forth a Breakdown of Troubled Debt Restructurings (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Impaired Balance	$ 181,200	$ 183,600
Specific Allowance	37,300
TDRs [Member]
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Accruing	81,202	81,891
Nonaccrual	100,022	101,682
Impaired Balance	181,224	183,573
Specific Allowance	31,905	24,958
Charged- off	1,083	4,000
TDRs [Member] | Leveraged Finance [Member]
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Accruing	52,940	53,883
Nonaccrual	92,317	93,977
Impaired Balance	145,257	147,860
Specific Allowance	27,530	24,958
Charged- off	1,083	4,000
TDRs [Member] | Real Estate [Member]
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Accruing	27,565	27,236
Nonaccrual	7,705	7,705
Impaired Balance	35,270	34,941
Specific Allowance	4,375
TDRs [Member] | Equipment Finance [Member]
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Accruing	697	772
Impaired Balance	$ 697	$ 772

Loans Held-for-Sale, Loans, L57

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Age Analysis of Delinquent Receivables (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Financing Receivable Recorded Investment Past Due [Line Items]
60-89 Days Past Due	$ 18,908	$ 27,165
Current	3,143,663	3,216,415
Total Loans and Leases	3,162,571	3,243,580
Investment in > 60 Days & Accruing		8,530
Leveraged Finance [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
60-89 Days Past Due	18,908	27,165
Current	2,923,570	2,600,149
Total Loans and Leases	2,942,478	2,627,314
Investment in > 60 Days & Accruing		8,530
Real Estate [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Current	44,587	100,732
Total Loans and Leases	44,587	100,732
Equipment Finance [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Current	175,506	173,253
Total Loans and Leases	175,506	173,253
Business Credit [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Current		342,281
Total Loans and Leases		342,281
Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
60-89 Days Past Due	18,908	27,165
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Leveraged Finance [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
60-89 Days Past Due	$ 18,908	$ 27,165

Loans Held-for-Sale, Loans, L58

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Summary Activity in the Allowance for Credit Losses (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance, beginning of period	$ 58,726	$ 43,693	$ 43,693
Provision for credit losses—general	1,071	3,997
Provision for credit losses—specific	16,642	2,981
Reversal due to sale of Business Credit	(1,819)
Loans charged off, net of recoveries	(7,328)	68
Balance, end of period	67,292	50,739	58,726
Balance, end of period—specific	37,335	23,706
Balance, end of period—general	29,957	27,033
Average balance of impaired loans	113,949	216,625
Interest recognized from impaired loans and leases	1,943	2,756
Loans individually evaluated with specific allowance	161,791	129,164
Loans individually evaluated with no specific allowance	51,028	86,556
Acquired impaired loan	1,775
Loans and leases collectively evaluated without specific allowance	2,858,733	2,356,482
Total investment evaluated	3,073,327	2,572,202
Leveraged Finance [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance, beginning of period	54,788	41,480	41,480
Provision for credit losses—general	227	3,734
Provision for credit losses—specific	12,573	2,912
Loans charged off, net of recoveries	(6,060)	68
Balance, end of period	61,528	48,194	54,788
Balance, end of period—specific	32,960	23,637
Balance, end of period—general	28,568	24,557
Average balance of impaired loans	109,342	164,902
Interest recognized from impaired loans and leases	1,896	2,189
Loans individually evaluated with specific allowance	133,733	101,503
Loans individually evaluated with no specific allowance	43,119	63,044
Acquired impaired loan	1,775
Loans and leases collectively evaluated without specific allowance	2,674,607	1,919,458	2,469,868
Total investment evaluated	2,853,234	2,084,005	2,627,314
Business Credit [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance, beginning of period	1,991	1,334	1,334
Provision for credit losses—general	(172)	(4)
Reversal due to sale of Business Credit	(1,819)
Balance, end of period		1,330	1,991
Balance, end of period—general		1,330
Loans and leases collectively evaluated without specific allowance		264,910	342,281
Total investment evaluated		264,910	342,281
Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance, beginning of period	656	257	257
Provision for credit losses—general	965	26
Provision for credit losses—specific	4,069	69
Loans charged off, net of recoveries	(1,268)
Balance, end of period	4,422	352	656
Balance, end of period—specific	4,375	69
Balance, end of period—general	47	283
Average balance of impaired loans	4,607	51,723
Interest recognized from impaired loans and leases	47	567
Loans individually evaluated with specific allowance	28,058	27,661
Loans individually evaluated with no specific allowance	7,212	23,512
Loans and leases collectively evaluated without specific allowance	9,317	58,449	65,791
Total investment evaluated	44,587	109,622	100,732
Equipment Finance [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance, beginning of period	1,291	622	622
Provision for credit losses—general	51	241
Balance, end of period	1,342	863	1,291
Balance, end of period—general	1,342	863
Loans individually evaluated with no specific allowance	697
Loans and leases collectively evaluated without specific allowance	174,809	113,665	172,481
Total investment evaluated	$ 175,506	$ 113,665	$ 173,253

Loans Held-for-Sale, Loans, L59

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Summary Activity in the Allowance for Credit Losses (Parenthetical) (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Financing Receivable, Allowance for Credit Losses [Line Items]
Fair value of loans acquired	$ 2,027,384	$ 1,819,344
Leveraged Finance [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Fair value of loans acquired	$ 89,200

Restricted Cash - Summary of Re

Restricted Cash - Summary of Restricted Cash (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Restricted Cash And Investments [Abstract]
Collections on loans pledged to credit facilities	$ 60,162	$ 67,892
Principal and interest collections on loans held in trust and prefunding amounts	95,092	85,823
Customer escrow accounts	92	277
Total	$ 155,346	$ 153,992

Restricted Cash - Additional In

Restricted Cash - Additional Information (Detail) $ in Millions	Mar. 31, 2016USD ($)
Restricted Cash And Investments [Abstract]
Restricted cash to fund new or existing loans	$ 58.7

Investments in Debt Securitie62

Investments in Debt Securities, Available-for-Sale - Summary of Amortized Cost of Investments in Debt Securities (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Investments Debt And Equity Securities [Abstract]
Investments in debt securities—gross	$ 111,020	$ 111,020
Unamortized discount	(6,601)	(6,765)
Investments in debt securities—amortized cost	$ 104,419	$ 104,255

Investments in Debt Securitie63

Investments in Debt Securities, Available-for-Sale - Summary of Amortized Cost, Gross Unrealized Holding Gains, Gross Unrealized Holding Losses, and Fair Value of Available-for-Sale Securities (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Guarantee Obligations [Line Items]
Investments in debt securities—amortized cost	$ 104,419	$ 104,255
Gross unrealized holding losses	(14,732)	(10,078)
Fair value	89,687	94,177
Collateralized Loan Obligations [Member]
Guarantee Obligations [Line Items]
Investments in debt securities—amortized cost	104,419	104,255
Gross unrealized holding losses	(14,732)	(10,078)
Fair value	$ 89,687	$ 94,177

Investments in Debt Securitie64

Investments in Debt Securities, Available-for-Sale - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Investments Debt And Equity Securities [Abstract]
Other than temporary impairment charges	$ 0	$ 0

Investments in Debt Securitie65

Investments in Debt Securities, Available-for-Sale - Summary of Unrealized Loss on Investments (Detail) $ in Thousands	Mar. 31, 2016USD ($)Positions	Dec. 31, 2015USD ($)Positions
Investments Debt And Equity Securities [Abstract]
Number of positions, Less than 12 Months | Positions	18	20
Fair value, Less than 12 Months	$ 76,038	$ 86,245
Amortized cost, Less than 12 Months	87,519	95,624
Unrealized loss, Less than 12 Months	$ (11,481)	$ (9,379)
Number of positions, Greater than or Equal to 12 Months | Positions	5	3
Fair value, Greater than or Equal to 12 Months	$ 13,648	$ 7,932
Amortized cost, Greater than or Equal to 12 Months	16,899	8,631
Unrealized loss, Greater than or Equal to 12 Months	$ (3,251)	$ (699)
Number of positions | Positions	23	23
Fair value	$ 89,686	$ 94,177
Amortized cost	104,418	104,255
Unrealized loss	$ (14,732)	$ (10,078)

Investments in Debt Securitie66

Investments in Debt Securities, Available-for-Sale - Summary of Maturities of Debt Securities (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Investments Debt And Equity Securities [Abstract]
Amortized cost, Available-for-sale, Due after five years through ten years	$ 34,090	$ 34,017
Amortized cost, Available-for-sale, Due after ten years through fifteen years	70,329	70,238
Investments in debt securities—amortized cost	104,419	104,255
Fair value, Available-for-sale, Due after five years through ten years	28,111	30,470
Fair value, Available-for-sale, Due after ten years through fifteen years	61,576	63,707
Fair value	$ 89,687	$ 94,177

Borrowings - Credit Facilities

Borrowings - Credit Facilities - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2016USD ($)CreditFacility	Mar. 31, 2015USD ($)	Jan. 25, 2016USD ($)	Dec. 31, 2015USD ($)
Line of Credit Facility [Line Items]
Number of credit facility | CreditFacility	4
Outstanding balance of credit facility	$ 538,512,000			$ 832,686,000
Repayment of borrowings on credit facilities	1,278,352,000	$ 605,890,000
Wells Fargo Bank, National Association [Member] | Revolving Credit Facility, Leveraged Finance Loans [Member]
Line of Credit Facility [Line Items]
Current borrowing capacity of credit facility	565,000,000		$ 475,000,000
Outstanding balance of credit facility	272,100,000
Unamortized deferred financing fees	$ 7,100,000
Reinvestment period expiration date	Aug. 10, 2018
Amortization period of credit facility	2 years
Maturity date of facility	Aug. 10, 2020
Wells Fargo Bank, National Association [Member] | Revolving Credit Facility, New Equipment Lease Origination [Member]
Line of Credit Facility [Line Items]
Amount of credit facility	$ 75,000,000
Outstanding balance of credit facility	16,900,000
Unamortized deferred financing fees	$ 800,000
Reinvestment period expiration date	Apr. 10, 2017
Maturity date of facility	Apr. 10, 2019
Wells Fargo Bank, National Association [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Current borrowing capacity of credit facility	$ 165,000,000
Repayment of borrowings on credit facilities	135,400,000
Accelerated deferred financing fees	700,000
Credit Suisse and NewStar Capital [Member] | Revolving Credit Facility, Purchase Collateral Debt Obligations [Member]
Line of Credit Facility [Line Items]
Current borrowing capacity of credit facility	375,000,000
Outstanding balance of credit facility	$ 65,000,000
Maturity date of facility	Mar. 28, 2017
Last day to draw	Dec. 24, 2016
Credit Suisse [Member] | Revolving Credit Facility, Purchase Collateral Debt Obligations [Member]
Line of Credit Facility [Line Items]
Current borrowing capacity of credit facility	$ 350,000,000
NewStar Capital [Member] | Revolving Credit Facility, Purchase Collateral Debt Obligations [Member]
Line of Credit Facility [Line Items]
Current borrowing capacity of credit facility	25,000,000
Citibank, N.A. [Member] | Revolving Credit Facility, Leveraged Finance Loans [Member]
Line of Credit Facility [Line Items]
Amount of credit facility	250,000,000
Outstanding balance of credit facility	194,000,000
Unamortized deferred financing fees	$ 1,500,000
Reinvestment period expiration date	May 5, 2018
Amortization period of credit facility	2 years
Maturity date of facility	May 5, 2020
DZ Bank [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Amount of credit facility	$ 175,000,000
Repayment of borrowings on credit facilities	102,000,000
Accelerated deferred financing fees	$ 1,100,000

Borrowings - Senior Notes - Add

Borrowings - Senior Notes - Additional Information (Detail) - 7.25% Senior Notes Due 2020 [Member] - USD ($)	Nov. 09, 2015	Apr. 22, 2015	Mar. 31, 2016
Line of Credit Facility [Line Items]
Debt instrument face amount		$ 300,000,000
Debt instrument, interest rate (percent)		7.25%
Debt Instrument, additional amount borrowed	$ 80,000,000
Unamortized discount	$ 800,000
Debt instrument maturity date			May 1, 2020
Debt instrument, frequency of periodic payment			payable semi-annually on May 1 and November 1 of each year, beginning November 1, 2015
Debt instrument redemption description			At any time prior to May 1, 2017, the Company may redeem up to 35% of the aggregate principal amount of the 2020 Notes with the net cash proceeds of certain public equity offerings at a price equal to 107.25% of the aggregate principal amount so redeemed, plus accrued and unpaid interest thereon provided that immediately following the redemption, at least 65% of the 2020 Notes that were originally issued remain outstanding and any such redemption occurs within 180 days following the closing of any such public equity offering. Additionally, at any time prior to May 1, 2017, the Company may redeem some or all of the 2020 Notes at a price equal to 100% of the aggregate principal amount, plus accrued and unpaid interest thereon and a make-whole premium. On or after May 1, 2017, the Company may redeem the 2020 Notes, in whole or in part, at redemption prices specified in the 2020 Notes plus accrued and unpaid interest thereon.
Percentage of principal amount, redemption price		101.00%
Percentage of principal amount to remain outstanding after redemption requirement		65.00%
Debt instrument, redemption period		180 days
Unamortized deferred financing fees			$ 6,700,000
Debt Instrument, Redemption, Period One [Member]
Line of Credit Facility [Line Items]
Percentage of principal amount, redeemable		35.00%
Percentage of principal amount, redemption price		107.25%
Debt Instrument, Redemption, Period Two [Member]
Line of Credit Facility [Line Items]
Percentage of principal amount, redemption price		100.00%

Borrowings - Subordinated Notes

Borrowings - Subordinated Notes (Details) - Franklin Square - Subordinated Notes [Member] - USD ($)	Dec. 04, 2014	Jan. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Debt instrument face amount	$ 200,000,000
Debt Instrument, Term (in years)	10 years
Debt Instrument, additional amount borrowed				$ 75,000,000
Debt instrument, remaining borrowings		$ 25,000,000
Warrants and Rights Outstanding			$ 58,800,000
Unamortized discount				$ 60,000,000
Unamortized deferred financing fees			$ 5,400,000
Debt instrument, interest rate (percent)	8.25%
Debt Instrument, Paid-In-Kind Stated Interest Rate (percent)	8.75%
Debt instrument maturity date			Dec. 4, 2024
Debt Instrument, Redemption, Period One [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Period With Make-Whole Premium (in years)	3 years
Debt Instrument, Redemption, Period Two [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	103.00%
Debt Instrument, Redemption, Period Three [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	101.00%

Borrowings - Term Debt Securiti

Borrowings - Term Debt Securitizations - Additional Information (Detail) - USD ($)

Mar. 02, 2016

Sep. 15, 2015

Sep. 01, 2015

Mar. 20, 2015

Apr. 17, 2014

Sep. 11, 2013

Dec. 18, 2012

Jun. 30, 2007

Mar. 31, 2016

Dec. 31, 2012

Dec. 31, 2010

Dec. 31, 2009

Dec. 31, 2015

Jun. 12, 2015

Debt Instrument [Line Items]

Outstanding balance on drawn notes

$ 2,044,931,000

$ 1,821,519,000

2007-1 CLO Trust [Member]

Debt Instrument [Line Items]

Loans and investments provided to bankruptcy remote subsidiary

$ 600,000,000

Notes issued or additional notes to institutional investors

$ 546,000,000

546,000,000

Notes issued and retained as trust certificate percentage

100.00%

Outstanding balance on drawn notes

125,668,000

Principal collection and payments receivable of secured debt

$ 179,700,000

Collateral principal repayments maturity period

6 years

2007-1 CLO Trust [Member] | Trust Certificates [Member]

Debt Instrument [Line Items]

Notes issued or additional notes to institutional investors

$ 54,000,000

2007-1 CLO Trust [Member] | Class C [Member]

Debt Instrument [Line Items]

Notes issued or additional notes to institutional investors

$ 58,500,000

Outstanding balance on drawn notes

58,293,000

Purchase of Long Term Debt

$ 200,000

2007-1 CLO Trust [Member] | Class D [Member]

Debt Instrument [Line Items]

Notes issued or additional notes to institutional investors

27,000,000

Outstanding balance on drawn notes

21,000,000

Purchase of Long Term Debt

$ 5,000,000

$ 1,000,000

2012-2 CLO [Member]

Debt Instrument [Line Items]

Loans and investments provided to bankruptcy remote subsidiary

$ 325,900,000

Notes issued or additional notes to institutional investors

$ 263,300,000

279,600,000

Notes issued and retained as trust certificate percentage

100.00%

Outstanding balance on drawn notes

279,600,000

Principal collection and payments receivable of secured debt

$ 325,900,000

Collateral principal repayments maturity period

3 years

Deferred financing costs, net

$ 1,300,000

Collateral principal repayments expiration

2016-01

2012-2 CLO [Member] | Trust Certificates [Member]

Debt Instrument [Line Items]

Notes issued or additional notes to institutional investors

$ 62,600,000

2012-2 CLO [Member] | Class C [Member]

Debt Instrument [Line Items]

Notes issued or additional notes to institutional investors

$ 35,200,000

Outstanding balance on drawn notes

35,200,000

2012-2 CLO [Member] | Class D [Member]

Debt Instrument [Line Items]

Notes issued or additional notes to institutional investors

11,400,000

Outstanding balance on drawn notes

11,400,000

2012-2 CLO [Member] | Class E [Member]

Debt Instrument [Line Items]

Notes issued or additional notes to institutional investors

16,300,000

$ 16,300,000

Outstanding balance on drawn notes

16,300,000

2013-1 CLO [Member]

Debt Instrument [Line Items]

Loans and investments provided to bankruptcy remote subsidiary

$ 247,600,000

Notes issued or additional notes to institutional investors

$ 338,600,000

338,600,000

Notes issued and retained as trust certificate percentage

100.00%

Outstanding balance on drawn notes

330,600,000

Principal collection and payments receivable of secured debt

$ 392,000,000

Collateral principal repayments maturity period

3 years

Deferred financing costs, net

$ 3,300,000

Collateral principal repayments expiration

2016-09

2013-1 CLO [Member] | Trust Certificates [Member]

Debt Instrument [Line Items]

Notes issued or additional notes to institutional investors

$ 61,400,000

2013-1 CLO [Member] | Class C [Member]

Debt Instrument [Line Items]

Notes issued or additional notes to institutional investors

$ 36,000,000

Outstanding balance on drawn notes

36,000,000

2013-1 CLO [Member] | Class D [Member]

Debt Instrument [Line Items]

Notes issued or additional notes to institutional investors

21,000,000

Outstanding balance on drawn notes

21,000,000

2013-1 CLO [Member] | Class E [Member]

Debt Instrument [Line Items]

Notes issued or additional notes to institutional investors

6,000,000

Outstanding balance on drawn notes

6,000,000

2014-1 CLO [Member]

Debt Instrument [Line Items]

Loans and investments provided to bankruptcy remote subsidiary

$ 249,600,000

Notes issued or additional notes to institutional investors

$ 289,500,000

289,500,000

Notes issued and retained as trust certificate percentage

100.00%

Outstanding balance on drawn notes

289,500,000

Principal collection and payments receivable of secured debt

$ 348,400,000

Collateral principal repayments maturity period

4 years

Deferred financing costs, net

$ 2,400,000

Collateral principal repayments expiration

2018-04

2014-1 CLO [Member] | Trust Certificates [Member]

Debt Instrument [Line Items]

Notes issued or additional notes to institutional investors

$ 58,900,000

2014-1 CLO [Member] | Class C [Member]

Debt Instrument [Line Items]

Notes issued or additional notes to institutional investors

$ 30,250,000

Outstanding balance on drawn notes

30,250,000

2014-1 CLO [Member] | Class D [Member]

Debt Instrument [Line Items]

Notes issued or additional notes to institutional investors

23,500,000

Outstanding balance on drawn notes

23,500,000

2015-1 CLO [Member]

Debt Instrument [Line Items]

Loans and investments provided to bankruptcy remote subsidiary

$ 336,300,000

Notes issued or additional notes to institutional investors

$ 410,300,000

410,250,000

Notes issued and retained as trust certificate percentage

100.00%

Outstanding balance on drawn notes

410,250,000

Principal collection and payments receivable of secured debt

$ 496,100,000

Collateral principal repayments maturity period

4 years

Deferred financing costs, net

$ 3,800,000

Collateral principal repayments expiration

2019-04

2015-1 CLO [Member] | Trust Certificates [Member]

Debt Instrument [Line Items]

Notes issued or additional notes to institutional investors

$ 85,800,000

2015-1 CLO [Member] | Class C [Member]

Debt Instrument [Line Items]

Notes issued or additional notes to institutional investors

$ 38,500,000

Outstanding balance on drawn notes

38,500,000

2015-1 CLO [Member] | Class D [Member]

Debt Instrument [Line Items]

Notes issued or additional notes to institutional investors

33,250,000

Outstanding balance on drawn notes

33,250,000

2015-1 ABS [Member]

Debt Instrument [Line Items]

Loans and investments provided to bankruptcy remote subsidiary

$ 100,100,000

Notes issued or additional notes to institutional investors

70,000,000

70,046,000

Outstanding balance on drawn notes

44,034,000

Deferred financing costs, net

1,200,000

Amount of cash, leases and equipment loans pledged to secure notes

84,600,000

2015-1 ABS [Member] | Trust Certificates [Member]

Debt Instrument [Line Items]

Notes issued or additional notes to institutional investors

$ 40,600,000

2015-2 CLO [Member]

Debt Instrument [Line Items]

Loans and investments provided to bankruptcy remote subsidiary

$ 298,400,000

Notes issued or additional notes to institutional investors

$ 327,800,000

327,750,000

Notes issued and retained as trust certificate percentage

100.00%

Outstanding balance on drawn notes

327,750,000

Principal collection and payments receivable of secured debt

$ 397,800,000

Collateral principal repayments maturity period

4 years

Deferred financing costs, net

$ 3,400,000

Collateral principal repayments expiration

2019-08

2015-2 CLO [Member] | Trust Certificates [Member]

Debt Instrument [Line Items]

Notes issued or additional notes to institutional investors

$ 70,100,000

2015-2 CLO [Member] | Class C [Member]

Debt Instrument [Line Items]

Notes issued or additional notes to institutional investors

$ 26,250,000

Outstanding balance on drawn notes

26,250,000

2015-2 CLO [Member] | Class D [Member]

Debt Instrument [Line Items]

Notes issued or additional notes to institutional investors

28,500,000

Outstanding balance on drawn notes

28,500,000

2015-2 CLO [Member] | Class E [Member]

Debt Instrument [Line Items]

Notes issued or additional notes to institutional investors

5,000,000

Outstanding balance on drawn notes

5,000,000

2016-1 CLO [Member]

Debt Instrument [Line Items]

Loans and investments provided to bankruptcy remote subsidiary

$ 247,300,000

Notes issued or additional notes to institutional investors

$ 255,800,000

255,750,000

Notes issued and retained as trust certificate percentage

100.00%

Outstanding balance on drawn notes

255,750,000

Principal collection and payments receivable of secured debt

$ 348,000,000

Collateral principal repayments maturity period

4 years

Deferred financing costs, net

$ 2,700,000

Collateral principal repayments expiration

2020-02

2016-1 CLO [Member] | Trust Certificates [Member]

Debt Instrument [Line Items]

Notes issued or additional notes to institutional investors

$ 92,200,000

2016-1 CLO [Member] | Class C [Member]

Debt Instrument [Line Items]

Notes issued or additional notes to institutional investors

$ 22,500,000

Outstanding balance on drawn notes

$ 22,500,000

Borrowings - Summary of Borrowi

Borrowings - Summary of Borrowings (Detail) - USD ($)

Mar. 20, 2017

Mar. 31, 2016

Mar. 02, 2016

Dec. 31, 2015

Sep. 15, 2015

Sep. 01, 2015

Jun. 12, 2015

Mar. 20, 2015

Apr. 17, 2014

Sep. 11, 2013

Dec. 18, 2012

Jun. 30, 2007

Financial Instruments Owned and Pledged as Collateral [Line Items]

Term debt securitizations, net

$ 2,044,931,000

$ 1,821,519,000

2007-1 CLO Trust [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

546,000,000

$ 546,000,000

Term debt securitizations, net

125,668,000

2007-1 CLO Trust [Member] | Class A-1 [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

336,500,000

Term debt securitizations, net

$ 17,021,000

Interest rate

Libor+0.24%

Legal final maturity

Sep. 30, 2022

Ratings (S&P/Moody's/ Fitch/DBRS)

AAA/Aaa/AAA

2007-1 CLO Trust [Member] | Class A-1 [Member] | London Interbank Offered Rate (LIBOR) [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Basis Spread on Variable Rate

0.24%

2007-1 CLO Trust [Member] | Class A-2 [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 100,000,000

Term debt securitizations, net

$ 5,354,000

Interest rate

Libor+0.26%

Legal final maturity

Sep. 30, 2022

Ratings (S&P/Moody's/ Fitch/DBRS)

AAA/Aaa/AAA

2007-1 CLO Trust [Member] | Class A-2 [Member] | London Interbank Offered Rate (LIBOR) [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Basis Spread on Variable Rate

0.26%

2007-1 CLO Trust [Member] | Class B [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 24,000,000

Term debt securitizations, net

$ 24,000,000

Interest rate

Libor+0.55%

Legal final maturity

Sep. 30, 2022

Ratings (S&P/Moody's/ Fitch/DBRS)

AA+/Aa1/AA

2007-1 CLO Trust [Member] | Class B [Member] | London Interbank Offered Rate (LIBOR) [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Basis Spread on Variable Rate

0.55%

2007-1 CLO Trust [Member] | Class C [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 58,500,000

Term debt securitizations, net

$ 58,293,000

Interest rate

Libor+1.30%

Legal final maturity

Sep. 30, 2022

Ratings (S&P/Moody's/ Fitch/DBRS)

A-/A2/A

2007-1 CLO Trust [Member] | Class C [Member] | London Interbank Offered Rate (LIBOR) [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Basis Spread on Variable Rate

1.30%

2007-1 CLO Trust [Member] | Class D [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 27,000,000

Term debt securitizations, net

$ 21,000,000

Interest rate

Libor+2.30%

Legal final maturity

Sep. 30, 2022

Ratings (S&P/Moody's/ Fitch/DBRS)

BBB-/Baa2/BBB+

2007-1 CLO Trust [Member] | Class D [Member] | London Interbank Offered Rate (LIBOR) [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Basis Spread on Variable Rate

2.30%

2012-2 CLO [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 279,600,000

$ 263,300,000

Term debt securitizations, net

279,600,000

2012-2 CLO [Member] | Class B [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

26,000,000

Term debt securitizations, net

$ 26,000,000

Interest rate

Libor+3.25%

Legal final maturity

Jan. 20, 2023

Ratings (S&P/Moody's/ Fitch/DBRS)

Aa2/N/A

2012-2 CLO [Member] | Class C [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 35,200,000

Term debt securitizations, net

$ 35,200,000

Interest rate

Libor+4.25%

Legal final maturity

Jan. 20, 2023

Ratings (S&P/Moody's/ Fitch/DBRS)

A2/N/A

2012-2 CLO [Member] | Class D [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 11,400,000

Term debt securitizations, net

$ 11,400,000

Interest rate

Libor+6.25%

Legal final maturity

Jan. 20, 2023

Ratings (S&P/Moody's/ Fitch/DBRS)

Baa2/N/A

2012-2 CLO [Member] | Class A [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 190,700,000

Term debt securitizations, net

$ 190,700,000

Interest rate

Libor+1.90%

Legal final maturity

Jan. 20, 2023

Ratings (S&P/Moody's/ Fitch/DBRS)

Aaa/AAA

2012-2 CLO [Member] | Class E [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 16,300,000

$ 16,300,000

Term debt securitizations, net

$ 16,300,000

Interest rate

Libor+6.75%

Legal final maturity

Jan. 20, 2023

Ratings (S&P/Moody's/ Fitch/DBRS)

Ba1/N/A

Two Thousand And Twelve Two Commercial Loan Trust [Member] | Class B [Member] | London Interbank Offered Rate (LIBOR) [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Basis Spread on Variable Rate

3.25%

Two Thousand And Twelve Two Commercial Loan Trust [Member] | Class C [Member] | London Interbank Offered Rate (LIBOR) [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Basis Spread on Variable Rate

4.25%

Two Thousand And Twelve Two Commercial Loan Trust [Member] | Class D [Member] | London Interbank Offered Rate (LIBOR) [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Basis Spread on Variable Rate

6.25%

Two Thousand And Twelve Two Commercial Loan Trust [Member] | Class A [Member] | London Interbank Offered Rate (LIBOR) [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Basis Spread on Variable Rate

1.90%

Two Thousand And Twelve Two Commercial Loan Trust [Member] | Class E [Member] | London Interbank Offered Rate (LIBOR) [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Basis Spread on Variable Rate

6.75%

2013-1 CLO [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 338,600,000

$ 338,600,000

Term debt securitizations, net

330,600,000

2013-1 CLO [Member] | Class B [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

38,000,000

Term debt securitizations, net

$ 38,000,000

Interest rate

Libor+2.30%

Legal final maturity

Sep. 20, 2023

Ratings (S&P/Moody's/ Fitch/DBRS)

AA/N/A

2013-1 CLO [Member] | Class C [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 36,000,000

Term debt securitizations, net

$ 36,000,000

Interest rate

Libor+3.80%

Legal final maturity

Sep. 20, 2023

Ratings (S&P/Moody's/ Fitch/DBRS)

A/N/A

2013-1 CLO [Member] | Class D [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 21,000,000

Term debt securitizations, net

$ 21,000,000

Interest rate

Libor+4.55%

Legal final maturity

Sep. 20, 2023

Ratings (S&P/Moody's/ Fitch/DBRS)

BBB/N/A

2013-1 CLO [Member] | Class E [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 6,000,000

Term debt securitizations, net

$ 6,000,000

Interest rate

Libor+5.30%

Legal final maturity

Sep. 20, 2023

Ratings (S&P/Moody's/ Fitch/DBRS)

BBB-/N/A

2013-1 CLO [Member] | Class A-T [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 202,600,000

Term debt securitizations, net

$ 202,600,000

Interest rate

Libor+1.65%

Legal final maturity

Sep. 20, 2023

Ratings (S&P/Moody's/ Fitch/DBRS)

AAA/Aaa

2013-1 CLO [Member] | Class A-R [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 35,000,000

Term debt securitizations, net

$ 27,000,000

Legal final maturity

Sep. 20, 2023

Ratings (S&P/Moody's/ Fitch/DBRS)

AAA/Aaa

Two Thousand And Thirteen One Commercial Loan Trust [Member] | Class B [Member] | London Interbank Offered Rate (LIBOR) [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Basis Spread on Variable Rate

2.30%

Two Thousand And Thirteen One Commercial Loan Trust [Member] | Class C [Member] | London Interbank Offered Rate (LIBOR) [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Basis Spread on Variable Rate

3.80%

Two Thousand And Thirteen One Commercial Loan Trust [Member] | Class D [Member] | London Interbank Offered Rate (LIBOR) [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Basis Spread on Variable Rate

4.55%

Two Thousand And Thirteen One Commercial Loan Trust [Member] | Class E [Member] | London Interbank Offered Rate (LIBOR) [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Basis Spread on Variable Rate

5.30%

Two Thousand And Thirteen One Commercial Loan Trust [Member] | Class A-T [Member] | London Interbank Offered Rate (LIBOR) [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Basis Spread on Variable Rate

1.65%

2014-1 CLO [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 289,500,000

$ 289,500,000

Term debt securitizations, net

289,500,000

2014-1 CLO [Member] | Class C [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

30,250,000

Term debt securitizations, net

$ 30,250,000

Interest rate

Libor+3.60%

Legal final maturity

Apr. 20, 2025

Ratings (S&P/Moody's/ Fitch/DBRS)

A2

2014-1 CLO [Member] | Class C [Member] | London Interbank Offered Rate (LIBOR) [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Basis Spread on Variable Rate

3.60%

2014-1 CLO [Member] | Class D [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 23,500,000

Term debt securitizations, net

$ 23,500,000

Interest rate

Libor+4.75%

Legal final maturity

Apr. 20, 2025

Ratings (S&P/Moody's/ Fitch/DBRS)

Baa3

2014-1 CLO [Member] | Class D [Member] | London Interbank Offered Rate (LIBOR) [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Basis Spread on Variable Rate

4.75%

2014-1 CLO [Member] | Class A [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 202,500,000

Term debt securitizations, net

$ 202,500,000

Interest rate

Libor+1.80%

Legal final maturity

Apr. 20, 2025

Ratings (S&P/Moody's/ Fitch/DBRS)

Aaa

2014-1 CLO [Member] | Class A [Member] | London Interbank Offered Rate (LIBOR) [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Basis Spread on Variable Rate

1.80%

2014-1 CLO [Member] | Class B-1 [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 20,000,000

Term debt securitizations, net

$ 20,000,000

Interest rate

Libor+2.60%

Legal final maturity

Apr. 20, 2025

Ratings (S&P/Moody's/ Fitch/DBRS)

Aa2

2014-1 CLO [Member] | Class B-2 [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 13,250,000

Term debt securitizations, net

$ 13,250,000

Legal final maturity

Apr. 20, 2025

Ratings (S&P/Moody's/ Fitch/DBRS)

Aa2

Accrue interest at fixed rate

4.902%

2014-1 CLO [Member] | CLO Class B-1 [Member] | London Interbank Offered Rate (LIBOR) [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Basis Spread on Variable Rate

2.60%

2015-1 CLO [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 410,250,000

$ 410,300,000

Term debt securitizations, net

410,250,000

2015-1 CLO [Member] | Class A-1 [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

253,500,000

Term debt securitizations, net

$ 253,500,000

Interest rate

Libor+1.80%

Basis Spread on Variable Rate

1.80%

Legal final maturity

Jan. 20, 2027

Ratings (S&P/Moody's/ Fitch/DBRS)

Aaa/AAA

2015-1 CLO [Member] | Class A-2 [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 35,000,000

Term debt securitizations, net

$ 35,000,000

Legal final maturity

Jan. 20, 2027

Ratings (S&P/Moody's/ Fitch/DBRS)

Aaa/AAA

2015-1 CLO [Member] | Class A-2 [Member] | London Interbank Offered Rate (LIBOR) [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Basis Spread on Variable Rate

1.65%

2015-1 CLO [Member] | Class A-2 [Member] | London Interbank Offered Rate (LIBOR) [Member] | After March 20, 2017

Financial Instruments Owned and Pledged as Collateral [Line Items]

Basis Spread on Variable Rate

2.00%

2015-1 CLO [Member] | Class B [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 50,000,000

Term debt securitizations, net

$ 50,000,000

Interest rate

Libor+2.80%

Basis Spread on Variable Rate

2.80%

Legal final maturity

Jan. 20, 2027

Ratings (S&P/Moody's/ Fitch/DBRS)

Aa2/ N/A

2015-1 CLO [Member] | Class C [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 38,500,000

Term debt securitizations, net

$ 38,500,000

Interest rate

Libor+3.85%

Basis Spread on Variable Rate

3.85%

Legal final maturity

Jan. 20, 2027

Ratings (S&P/Moody's/ Fitch/DBRS)

A2/N/A

2015-1 CLO [Member] | Class D [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 33,250,000

Term debt securitizations, net

$ 33,250,000

Interest rate

Libor+5.50%

Basis Spread on Variable Rate

5.50%

Legal final maturity

Jan. 20, 2027

Ratings (S&P/Moody's/ Fitch/DBRS)

Baa3/N/A

2015-1 ABS [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 70,046,000

$ 70,000,000

Term debt securitizations, net

44,034,000

2015-1 ABS [Member] | Class A [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

70,046,000

Term debt securitizations, net

$ 44,034,000

Basis Spread on Variable Rate

3.27%

Legal final maturity

Apr. 15, 2019

Ratings (S&P/Moody's/ Fitch/DBRS)

AA

2015-2 CLO [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 327,750,000

$ 327,800,000

Term debt securitizations, net

327,750,000

2015-2 CLO [Member] | Class A-1 [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

205,000,000

Term debt securitizations, net

$ 205,000,000

Interest rate

Libor+2.00%

Legal final maturity

Aug. 25, 2027

Ratings (S&P/Moody's/ Fitch/DBRS)

Aaa/AAA

2015-2 CLO [Member] | Class A-1 [Member] | London Interbank Offered Rate (LIBOR) [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Basis Spread on Variable Rate

2.00%

2015-2 CLO [Member] | Class A-2 [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 23,000,000

Term debt securitizations, net

$ 23,000,000

Legal final maturity

Aug. 25, 2027

Ratings (S&P/Moody's/ Fitch/DBRS)

Aaa/AAA

Accrue interest at fixed rate

3.461%

2015-2 CLO [Member] | Class B [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 40,000,000

Term debt securitizations, net

$ 40,000,000

Interest rate

Libor+2.90%

Legal final maturity

Aug. 25, 2027

Ratings (S&P/Moody's/ Fitch/DBRS)

Aa2/ N/A

2015-2 CLO [Member] | Class B [Member] | London Interbank Offered Rate (LIBOR) [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Basis Spread on Variable Rate

2.90%

2015-2 CLO [Member] | Class C [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 26,250,000

Term debt securitizations, net

$ 26,250,000

Interest rate

Libor+3.95%

Legal final maturity

Aug. 25, 2027

Ratings (S&P/Moody's/ Fitch/DBRS)

A2/N/A

2015-2 CLO [Member] | Class C [Member] | London Interbank Offered Rate (LIBOR) [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Basis Spread on Variable Rate

3.95%

2015-2 CLO [Member] | Class D [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 28,500,000

Term debt securitizations, net

$ 28,500,000

Interest rate

Libor+5.25%

Legal final maturity

Aug. 25, 2027

Ratings (S&P/Moody's/ Fitch/DBRS)

Baa3/N/A

2015-2 CLO [Member] | Class D [Member] | London Interbank Offered Rate (LIBOR) [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Basis Spread on Variable Rate

5.25%

2015-2 CLO [Member] | Class E [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 5,000,000

Term debt securitizations, net

$ 5,000,000

Interest rate

Libor+7.50%

Legal final maturity

Aug. 25, 2027

Ratings (S&P/Moody's/ Fitch/DBRS)

Ba3/N/A

2015-2 CLO [Member] | Class E [Member] | London Interbank Offered Rate (LIBOR) [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Basis Spread on Variable Rate

7.50%

2016-1 CLO [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 255,750,000

$ 255,800,000

Term debt securitizations, net

255,750,000

2016-1 CLO [Member] | Class A-1 [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

176,500,000

Term debt securitizations, net

$ 176,500,000

Interest rate

Libor+2.30%

Legal final maturity

Feb. 25, 2028

Ratings (S&P/Moody's/ Fitch/DBRS)

Aaa/AAA

2016-1 CLO [Member] | Class A-1 [Member] | London Interbank Offered Rate (LIBOR) [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Basis Spread on Variable Rate

2.30%

2016-1 CLO [Member] | Class A-2 [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 20,000,000

Term debt securitizations, net

$ 20,000,000

Legal final maturity

Feb. 25, 2028

Ratings (S&P/Moody's/ Fitch/DBRS)

Aaa/AAA

Accrue interest at fixed rate

3.44%

2016-1 CLO [Member] | Class B [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 36,750,000

Term debt securitizations, net

$ 36,750,000

Interest rate

Libor+3.75%

Legal final maturity

Feb. 25, 2028

Ratings (S&P/Moody's/ Fitch/DBRS)

Aa2/ N/A

2016-1 CLO [Member] | Class B [Member] | London Interbank Offered Rate (LIBOR) [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Basis Spread on Variable Rate

3.75%

2016-1 CLO [Member] | Class C [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Notes originally issued

$ 22,500,000

Term debt securitizations, net

$ 22,500,000

Interest rate

Libor+5.40%

Legal final maturity

Feb. 25, 2028

Ratings (S&P/Moody's/ Fitch/DBRS)

A2/N/A

2016-1 CLO [Member] | Class C [Member] | London Interbank Offered Rate (LIBOR) [Member]

Financial Instruments Owned and Pledged as Collateral [Line Items]

Basis Spread on Variable Rate

5.40%

Borrowings - Corporate Credit F

Borrowings - Corporate Credit Facility - Additional Information 1 (Detail)	Jun. 03, 2013USD ($)borrowing	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Line of Credit Facility [Line Items]
Outstanding balance of credit facility		$ 538,512,000	$ 832,686,000
Fortress Credit Corp [Member] | Corporate Credit Facility
Line of Credit Facility [Line Items]
Amount of credit facility	$ 238,500,000
Number of subsequent borrowings | borrowing	3
Fortress Credit Corp [Member] | Existing Notes
Line of Credit Facility [Line Items]
Outstanding balance of credit facility	$ 100,000,000
Fortress Credit Corp [Member] | Initial Notes
Line of Credit Facility [Line Items]
Outstanding balance of credit facility	98,500,000
Fortress Credit Corp [Member] | Delay Draw Term A [Member]
Line of Credit Facility [Line Items]
Outstanding balance of credit facility	5,000,000
Fortress Credit Corp [Member] | Delay Draw Term B [Member]
Line of Credit Facility [Line Items]
Outstanding balance of credit facility	25,000,000
Fortress Credit Corp [Member] | Term C Loan [Member]
Line of Credit Facility [Line Items]
Outstanding balance of credit facility	$ 10,000,000

Repurchase Agreements - Schedul

Repurchase Agreements - Schedule of Repurchase Agreements (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase agreements, net	$ 94,785	$ 96,224
Loans [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Outstanding at end of period	95,247	96,789
Deferred financing fees and debt discount	462	565
Repurchase agreements, net	$ 94,785	$ 96,224
Weighted average rate at end of period (percent)	3.80%	3.67%

Repurchase Agreements - Additio

Repurchase Agreements - Additional Information (Detail) - USD ($)	Oct. 02, 2013	Jun. 07, 2011	Mar. 31, 2016	Dec. 31, 2015
Loans [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Weighted average rate at end of period (percent)			3.80%	3.67%
Repurchase agreements, outstanding at end of period			$ 95,247,000	$ 96,789,000
Macquarie Bank Limited [Member] | Loans [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Debt Instrument, Term (in years)		5 years
Financing arrangement, commercial mortgage loans sold to Macquarie		$ 68,000,000
Commercial mortgage loans repurchase extension period (in years)	1 year
Additional advances for repurchase of loans	$ 25,500,000
Additional advances for existing eligible assets (up to)	15,000,000
Unrestricted cash received from principal payment released	$ 41,100,000
Weighted average rate at end of period (percent)			5.44%
Unamortized deferred financing fees			$ 500,000
Repurchase agreements, outstanding at end of period			42,000,000
Principal payments			200,000
Deutsche Bank AG [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase agreements, outstanding at end of period			0
Natixis Securities Americas LLC [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase agreements, outstanding at end of period			1,400,000
Citigroup Global Markets [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase agreements, outstanding at end of period			14,800,000
JP Morgan Chase Bank [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase agreements, outstanding at end of period			$ 37,100,000

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Authorized Capital (Detail) - shares	Mar. 31, 2016	Dec. 31, 2015	Dec. 13, 2006
Equity [Abstract]
Preferred stock, shares authorized	5,000,000	5,000,000	5,000,000
Common stock, shares authorized	145,000,000	145,000,000
Preferred stock, shares outstanding	0	0
Common stock, shares outstanding	47,638,653	46,527,288

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail)	Feb. 10, 2016USD ($)	Mar. 24, 2015USD ($)shares	Mar. 31, 2016USD ($)Installment$ / sharesshares	Mar. 31, 2015USD ($)	Dec. 31, 2015$ / sharesshares	Oct. 07, 2015USD ($)	Jan. 23, 2015shares	Dec. 13, 2006$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred stock, shares authorized | shares			5,000,000		5,000,000			5,000,000
Preferred stock, par value (in dollars per share) | $ / shares			$ 0.01		$ 0.01			$ 0.01
Common stock authorized to repurchase (up to)						$ 5,000,000
Stock repurchase remaining authorized amount	$ 4,900,000
Stock repurchase increased authorized amount	$ 30,000,000
Repurchase program expiration date	Dec. 31, 2016
Repurchase of stock, shares | shares		1,000,000	137,165
Repurchase of stock, value		$ 10,300,000
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued to employees | shares			523,903
Number of equal installments of issued restricted stock that will be made to employees | Installment			3
Award vesting period			3 years
Stock-based compensation expense			$ 1,000,000	$ 1,000,000
Unrecognized compensation cost			$ 4,500,000
Weighted average recognition period for unrecognized compensation cost			3 years
Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares subject to stock option description			not be less than 100% of the fair market value of the common stock on the date of the grant
Franklin Square Capital Partners [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common shares called by the issued warrants | shares							2,500,000
Weighted Average [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock weighted average price per share (in dollars per share) | $ / shares			$ 7.36
Minimum [Member] | Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price of common stock as a percentage of fair market value			100.00%

Stockholders' Equity - Schedu77

Stockholders' Equity - Schedule of Restricted Stock Activity (Detail) - Restricted Stock $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Shares, Non-vested, Beginning balance | shares	496,704
Shares, Granted | shares	523,903
Shares, Vested | shares	(181,626)
Shares, Forfeited | shares	(555)
Shares, Non-vested, Ending balance | shares	838,426
Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Grant Date Fair Value [Roll Forward]
Weighted average grant-date fair value, Non-vested, Beginning balance | $	$ 5,629
Weighted average grant-date fair value, Granted | $	3,285
Weighted average grant-date fair value, Vested | $	(2,153)
Weighted average grant-date fair value, Forfeited | $	(9)
Weighted average grant-date fair value, Non-vested, Ending balance | $	$ 6,752

Stockholders' Equity - Schedu78

Stockholders' Equity - Schedule of Stock Option Activity (Detail)	3 Months Ended
	Mar. 31, 2016shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options Outstanding, Beginning balance	2,513,532
Options Exercised	(1,634,513)
Options Forfeited	(7,500)
Options Outstanding, Ending Balance	871,519
Options Vested as of March 31, 2016	871,519
Options Exercisable as of March 31, 2016	871,519

Earnings Per Share - Computatio

Earnings Per Share - Computations of Basic and Diluted Income Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Dilutive and Antidilutive Securities Associated with Computation of Earnings Per Share [Line Items]
Net income	$ 4,009	$ 2,539
Net income allocated to participating securities - basic and diluted	59	25
Net income allocated to common shareholders - basic and diluted	$ 3,950	$ 2,514
Denominator for basic earnings per common share	46,447	46,770
Total weighted average diluted shares	46,447	49,406
Basic	$ 0.09	$ 0.05
Diluted	$ 0.09	$ 0.05
Options [Member]
Dilutive and Antidilutive Securities Associated with Computation of Earnings Per Share [Line Items]
Potentially dilutive securities-options (in shares)		2,636

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Warrants excluded from earnings per share calculation due to anti-dilutive effect	12,000,000	12,000,000
Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Warrants excluded from earnings per share calculation due to anti-dilutive effect	871,519

Variable Interest Entities - Un

Variable Interest Entities - Unconsolidated Variable Interest Entities (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Unconsolidated VIE assets	$ 484,678,000	$ 483,581,000
Unconsolidated VIE liabilities	359,394,000	362,383,000
Equity interest included on the Consolidated Balance Sheet	23,903,000	23,910,000
Maximum risk of loss	$ 24,316,000	$ 24,327,000

Variable Interest Entities - Ad

Variable Interest Entities - Additional Information (Detail) $ in Millions	1 Months Ended	3 Months Ended
	Jan. 31, 2015USD ($)	Mar. 31, 2016	Oct. 31, 2015LoansFund
Feingold O’Keeffe Capital, LLC [Member]
Variable Interest Entity [Line Items]
Number of collateralized loan obligation | Loans			6
Business acquisition date		2015-10
Feingold O’Keeffe Capital, LLC [Member] | Sponsored Funds [Member]
Variable Interest Entity [Line Items]
Number of sponsored funds | Fund			2
Variable interest on secured value sponsored fund			1.00%
NewStar Clarendon Fund CLO LLC [Member]
Variable Interest Entity [Line Items]
Term debt securitization	$ 400
Each class of note securitization amount, total	$ 20.4
Percentage of each class of note securitization	5.00%

Financial Instruments with Of83

Financial Instruments with Off-Balance Sheet Risk - Financial Instruments with Off-Balance Sheet Risk (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Unused Lines of Credit [Member]
Concentration Risk [Line Items]
Financial instruments with off-balance sheet risk	$ 280,283	$ 601,805
Standby Letters of Credit [Member]
Concentration Risk [Line Items]
Financial instruments with off-balance sheet risk	$ 8,745	$ 8,696

Total Return Swap - Additional

Total Return Swap - Additional Information (Detail) - USD ($)	Jul. 14, 2015	Mar. 02, 2015	Dec. 15, 2014	Dec. 04, 2014	Mar. 31, 2016	Dec. 31, 2015
Derivative [Line Items]
Cash collateral on deposit with custodian					$ 19,442,000	$ 61,081,000
Total Return Swap [Member]
Derivative [Line Items]
Maximum market value of portfolio of loans	$ 175,000,000	$ 150,000,000	$ 125,000,000	$ 75,000,000
Derivative termination date					Mar. 31, 2016
Fair value of TRS						155,600,000
Total Return Swap [Member] | Citibank [Member]
Derivative [Line Items]
Cash collateral on deposit with custodian					$ 11,900,000	$ 56,500,000
Interest rate description					one-month LIBOR plus 1.60% per annum
Total Return Swap [Member] | Citibank [Member] | London Interbank Offered Rate (LIBOR) [Member]
Derivative [Line Items]
Basis spread on variable rate (percent)					1.60%
Total Return Swap [Member] | CLO's [Member]
Derivative [Line Items]
Purchase Price of Loan					$ 138,900,000

Total Return Swap - Schedule of

Total Return Swap - Schedule of Receivable and Realized Loss on Total Return Swap (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Derivative [Line Items]
Accrued interest payable	$ 30,333	$ 18,073
TRS receivable	13,269	13,932
Total Return Swap [Member]
Derivative [Line Items]
TRS receivable	1,145	1,377
Interest income from TRS portfolio	2,355	8,667
TRS interest expense	848	2,652
Loss on TRS	(6,122)	(4,822)
Realized loss on TRS		$ (5,816)
Total Return Swap [Member] | Citibank [Member]
Derivative [Line Items]
Accrued interest payable	$ (10,984)

Fair Value - Additional Informa

Fair Value - Additional Information (Detail) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loss on loan measured at fair value	$ 17,713,000	$ 6,978,000
Interest receivable	13,269,000		$ 13,932,000
Non-public investments carrying value	14,500,000		14,300,000
Total Return Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
TRS			(4,400,000)
Interest receivable	1,145,000		1,377,000
Unrealized Gain (Loss) on Derivatives			(5,816,000)
Maximum [Member] | Total Return Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional amount			175,000,000
Collateral-Dependent Commercial Real Estate Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Provision for credit losses related to collateral dependent impaired loans	4,100,000		300,000
Loans, held-for-sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loss on loan measured at fair value	$ 3,700,000		$ 2,600,000

Fair Value - Assets and Liabili

Fair Value - Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in debt securities, available-for-sale	$ 89,687	$ 94,177
Loans	3,012,180	3,147,117
Loans, held-for-sale	471,433	483,781
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans	89,244
Loans, held-for-sale	451,931	483,781
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans	2,922,936	3,147,117
Loans, held-for-sale	19,502
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in debt securities, available-for-sale	89,687	94,177
Loans	89,244
Total assets recorded at fair value on a recurring basis	178,931	94,177
TRS		4,439
Total liabilities recorded at fair value on a recurring basis		4,439
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans	89,244
TRS		4,439
Total liabilities recorded at fair value on a recurring basis		4,439
Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in debt securities, available-for-sale	89,687	94,177
Total assets recorded at fair value on a recurring basis	89,687	94,177
Nonrecurring Basis [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral dependent impaired loans	23,767	27,473
Loans, held-for-sale	148,786	140,151
Other real estate owned/repossessed assets	250	250
Total assets recorded at fair value on a nonrecurring basis	172,803	167,874
Nonrecurring Basis [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans, held-for-sale	129,284	140,151
Total assets recorded at fair value on a nonrecurring basis	129,284	140,151
Nonrecurring Basis [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral dependent impaired loans	23,767	27,473
Loans, held-for-sale	19,502
Other real estate owned/repossessed assets	250	250
Total assets recorded at fair value on a nonrecurring basis	$ 43,519	$ 27,723

Fair Value - Summary of Signifi

Fair Value - Summary of Significant Unobservable Inputs and Valuation Techniques (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value	$ 113,704	$ 121,900
Investments in Debt Securities, Available-for-Sale [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value	89,687	94,177
Loans Receivable [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value	$ 23,767	$ 27,473
Loans Receivable [Member] | Minimum [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value discount rate range - cost to sell (percent)	3.00%	3.00%
Fair value discount rate range - marketability discount (as a percent)	5.00%	5.00%
Loans Receivable [Member] | Maximum [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value discount rate range - cost to sell (percent)	7.00%	7.00%
Fair value discount rate range - marketability discount (as a percent)	30.00%	30.00%
Other Real Estate Owned/Repossessed Assets [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value	$ 250	$ 250
Other Real Estate Owned/Repossessed Assets [Member] | Minimum [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value discount rate range - cost to sell (percent)	3.00%	3.00%
Other Real Estate Owned/Repossessed Assets [Member] | Maximum [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value discount rate range - cost to sell (percent)	7.00%	7.00%

Fair Value - Reconciliation of

Fair Value - Reconciliation of Financial Instruments Measured on Recurring Basis and Classified as Level 3 Inputs (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance	$ 121,900
Ending Balance	113,704
Investments in Debt Securities, Available-for-Sale [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance	94,177	$ 46,881
Included in earnings	176	111
Included in other comprehensive income	$ (4,666)	185
Purchases		32,714
Issuances
Settlements
Ending Balance	$ 89,687	$ 79,891

Fair Value - Carrying Amounts a

Fair Value - Carrying Amounts and Estimated Fair Values of Company's Financial Instruments (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 150,657	$ 35,933	$ 28,666	$ 33,033
Restricted cash	155,346	153,992
Cash collateral on deposit with custodian	19,442	61,081
Investments in debt securities, available-for-sale	89,687	94,177
Loans held-for-sale, net	468,443	478,785
Loans and leases, net	3,029,315	3,134,072
Other assets, Carrying amount	14,534	14,255
Credit facilities, net	538,512	832,686
Term debt securitizations, net	2,044,931	1,821,519
Senior notes, net	372,560	372,153
Subordinated notes, net	235,855	209,509
Repurchase agreements, net	94,785	96,224
Other liabilities, Carrying amount		4,439
Loans, held-for-sale, net	471,433	483,781
Loans and leases, net, Fair value	3,012,180	3,147,117
Other assets, Fair value	14,534	14,255
Credit facilities, net, Fair value	538,512	843,896
Fair value of loans acquired	2,027,384	1,819,344
Senior notes, net, Fair value	342,000	368,600
Subordinated notes, net, Fair value	283,999	266,857
Repurchase agreements, net, Fair value	99,964	101,433
Other liabilities, Fair value		4,439
Consolidated Entities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	150,657	35,933
Restricted cash	155,346	153,992
Cash collateral on deposit with custodian	19,442	61,081
Investments in debt securities, available-for-sale	89,687	94,177
Loans held-for-sale, net	468,443	478,785
Loans and leases, net	3,029,315	3,134,072
Other assets, Carrying amount	14,534	14,255
Credit facilities, net	538,512	832,686
Term debt securitizations, net	2,044,931	1,821,519
Senior notes, net	372,560	372,153
Subordinated notes, net	235,855	209,509
Repurchase agreements, net	94,785	96,224
Other liabilities, Carrying amount		4,439
Cash and cash equivalents, Fair value	150,657	35,933
Restricted cash, Fair value	155,346	153,992
Cash collateral on deposit with custodian, Fair value	19,442	61,081
Loans, held-for-sale, net	471,433	483,781
Loans and leases, net, Fair value	3,012,180	3,147,117
Other assets, Fair value	14,534	14,255
Credit facilities, net, Fair value	538,512	843,896
Fair value of loans acquired	2,027,384	1,819,344
Senior notes, net, Fair value	342,000	368,600
Subordinated notes, net, Fair value	283,999	266,857
Repurchase agreements, net, Fair value	$ 99,964	101,433
Other liabilities, Fair value		$ 4,439

Fair Value - Carrying Amounts,

Fair Value - Carrying Amounts, Estimated Fair Values and Placement in Fair Value Hierarchy of Financial Instruments (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans and leases, net	$ 3,029,315	$ 3,134,072
Loans held-for-sale, net	468,443	478,785
Other assets, Carrying amount	14,534	14,255
Credit facilities, net	538,512	832,686
Outstanding balance on drawn notes	2,044,931	1,821,519
Repurchase agreements	94,785	96,224
Senior notes, net	372,560	372,153
Subordinated notes, net	235,855	209,509
Loans and leases, net, Fair value	3,012,180	3,147,117
Loans, held-for-sale, net	471,433	483,781
Other assets, Fair value	14,534	14,255
Credit facilities, Fair value	538,512	843,896
Fair value of loans acquired	2,027,384	1,819,344
Repurchase agreements, Fair value	99,964	101,433
Senior notes, Fair value	342,000	368,600
Subordinated notes, Fair value	283,999	266,857
Other liabilities, Carrying amount		4,439
Other liabilities, Fair value		4,439
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans and leases, net, Fair value	89,244
Loans, held-for-sale, net	451,931	483,781
Credit facilities, Fair value	538,512	843,896
Fair value of loans acquired	2,027,384	1,819,344
Repurchase agreements, Fair value	99,964	101,433
Senior notes, Fair value	342,000	368,600
Other liabilities, Fair value		4,439
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans and leases, net, Fair value	2,922,936	3,147,117
Loans, held-for-sale, net	19,502
Other assets, Fair value	14,534	14,255
Subordinated notes, Fair value	283,999	266,857
Loans Receivable Excluding Real Estate Loans With Negative Credit Mark [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans and leases, net	$ 3,029,315	$ 3,134,072

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2016USD ($)Segment
Segment Reporting Information [Line Items]
Number of reportable segments | Segment	2
Minimum [Member] | Commercial Lending Segment
Segment Reporting Information [Line Items]
Annual cash flow (EBITDA) of companies financed through specialized lending groups	$ 10,000,000
Maximum [Member] | Commercial Lending Segment
Segment Reporting Information [Line Items]
Annual cash flow (EBITDA) of companies financed through specialized lending groups	$ 50,000,000

Segment Reporting - Summary of

Segment Reporting - Summary of Assets and Statement of Operations (Detail) - USD ($) $ in Thousands		3 Months Ended				12 Months Ended
		Mar. 31, 2016		Mar. 31, 2015		Dec. 31, 2015
Segment Reporting Information [Line Items]
Net interest income:		$ 22,519		$ 17,415
Provision for loan losses		17,713		6,978
Net interest income after provision for credit losses		4,806		10,437
Non-interest income (loss):
Management fees		3,047		920
Performance fees		394
Other lending fees		1,193		1,158
Other noninterest income		14,518	[1]	2,048	[2]
Total non-interest income		19,152		4,126
Non-interest expense		17,068		10,232
Income before income taxes		6,890		4,331
Income tax expense		2,881		1,792
Net income		4,009		2,539
Gross loans held-for-sale		3,162,571				$ 3,243,580
Investments in debt securities, available for sale, net of mark		96,288				100,942
Other assets		273,702				220,987
Total assets		4,007,944				4,051,383
Illiquid Credit funds	[3]	818,627				824,573
Liquid/Tradeable Credit	[3]	2,067,040				2,294,497
Total Assets		6,893,611				7,170,453
Total Managed Assets		6,619,909				6,949,466
Finance Receivables Loans Held For Sale [Member]
Segment Reporting Information [Line Items]
Provision for loan losses		3,700				2,600
Non-interest income (loss):
Gross loans held-for-sale		475,383				485,874
Commercial Lending Segment
Segment Reporting Information [Line Items]
Net interest income:		21,857		17,828
Provision for loan losses		17,713		6,978
Net interest income after provision for credit losses		4,144		10,850
Non-interest income (loss):
Other lending fees		1,193		1,158
Other noninterest income		14,630	[1]	2,048	[2]
Total non-interest income		15,823		3,206
Non-interest expense		14,835		9,886
Income before income taxes		5,132		4,170
Gross loans held-for-sale		3,073,327				3,243,580
Other assets		234,593				205,256
Total assets		3,783,303				3,934,710
Total Assets		3,783,303				3,934,710
Total Managed Assets		3,548,710				3,729,454
Commercial Lending Segment | Finance Receivables Loans Held For Sale [Member]
Non-interest income (loss):
Gross loans held-for-sale		475,383				485,874
Asset Management Segment
Segment Reporting Information [Line Items]
Net interest income:		662		(413)
Net interest income after provision for credit losses		662		(413)
Non-interest income (loss):
Management fees		3,047		920
Performance fees		394
Other noninterest income	[1]	(112)
Total non-interest income		3,329		920
Non-interest expense		2,233		346
Income before income taxes		1,758		$ 161
Gross loans held-for-sale		89,244
Investments in debt securities, available for sale, net of mark		96,288				100,942
Other assets		39,109				15,731
Total assets		224,641				116,673
Illiquid Credit funds	[3]	818,627				824,573
Liquid/Tradeable Credit	[3]	2,067,040				2,294,497
Total Assets		3,110,308				3,235,743
Total Managed Assets		$ 3,071,199				$ 3,220,012
[1]	Includes fair value adjustments on Loans held-for-sale and fair value portfolio.
[2]	Includes fair value adjustment on Loans held-for-sale.
[3]	Assets managed by the Company for the Illiquid Credit and Liquid/Tradeable Credit Funds are not Assets of the Company and are not included in the Consolidated Total Assets as reflected in the Condensed Consolidated Balance Sheet.

Related-Party Transactions - Ad

Related-Party Transactions - Additional Information (Detail) - USD ($)	Jan. 15, 2015	Mar. 31, 2016	Mar. 31, 2015
Related Party Transaction [Line Items]
Asset management income		$ 3,441,000	$ 920,000
NewStar Clarendon Fund CLO LLC [Member] | Term Debt Securitization [Member]
Related Party Transaction [Line Items]
Debt instrument face amount	$ 400,000,000
Related party transaction, investment held, percentage	5.00%
Related party transaction, investment held, amount	$ 20,400,000
NewStar Clarendon Fund CLO LLC [Member] | Collateral Management Agreement [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party			400,000
Arlington Program [Member] | Collateral Management Agreement [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party			500,000
NewStar Credit Opportunities Fund, Ltd. [Member] | Investment Management Agreement [Member]
Related Party Transaction [Line Items]
Asset management income			$ 10,000