First Eagle Private Credit (NEWS) 10-Q 4 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 01, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
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		46,663,178

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Assets:
Cash and cash equivalents	$ 34,634	$ 35,933
Restricted cash	207,394	153,992
Cash collateral on deposit with custodian	7,564	61,081
Investments in debt securities, available-for-sale	91,400	94,177
Loans held-for-sale, net	440,099	478,785
Loans and leases, net (including loans at fair value of $167,198 and $0, respectively)	3,113,061	3,134,072
Interest receivable	15,059	13,932
Property and equipment, net	366	638
Deferred income taxes, net	30,443	33,133
Income tax receivable	8,346	5,342
Goodwill	17,884	17,884
Identified intangible asset, net	738	910
Other assets	24,873	21,504
Total assets	3,991,861	4,051,383
Liabilities:
Credit facilities, net	565,799	832,686
Term debt securitizations, net	2,009,184	1,821,519
Senior notes, net	373,006	372,153
Subordinated notes, net	237,696	209,509
Repurchase agreements, net	64,625	96,224
Accrued interest payable	19,664	18,073
Other liabilities	63,164	41,741
Total liabilities	3,333,138	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 46,663,802 in 2016 and 46,527,288 in 2015	466	465
Additional paid-in capital	743,892	742,970
Retained earnings	40,603	31,353
Common stock held in treasury, at cost; 10,431,877 in 2016 and 9,154,548 in 2015	(118,327)	(109,245)
Accumulated other comprehensive loss, net	(7,911)	(6,065)
Total stockholders’ equity	658,723	659,478
Total liabilities and stockholders’ equity	$ 3,991,861	$ 4,051,383

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Statement Of Financial Position [Abstract]
Loans at fair value	$ 167,198	$ 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	46,663,802	46,527,288
Treasury stock, shares	10,431,877	9,154,548

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net interest income:
Interest income	$ 59,392	$ 46,871	$ 121,344	$ 86,620
Interest expense	38,486	31,085	77,919	53,419
Net interest income	20,906	15,786	43,425	33,201
Provision for credit losses	3,623	3,208	21,336	10,186
Net interest income after provision for credit losses	17,283	12,578	22,089	23,015
Non-interest income (loss):
Asset management income	3,543	1,015	6,984	1,935
Fee income	1,697	4,777	2,890	5,935
Realized loss on derivatives	(11)	(10)	(18)	(19)
Realized gain (loss) on sale of loans, net	162	(31)	55	(46)
Other miscellaneous income, net	1,114	817	2,964	2,107
(Loss) gain on total return swap		861	(6,062)	2,064
Loss on loans held- for- sale, net	(2,146)		(5,813)	(421)
Gain on sale of Business Credit, net			22,511
Total non-interest income	4,359	7,429	23,511	11,555
Operating expenses:
Compensation and benefits	8,827	7,710	19,465	14,443
General and administrative expenses	4,013	3,734	10,443	7,233
Total operating expenses	12,840	11,444	29,908	21,676
Income before income taxes	8,802	8,563	15,692	12,894
Income tax expense	3,561	3,563	6,442	5,355
Net income	$ 5,241	$ 5,000	$ 9,250	$ 7,539
Basic Earnings per share	$ 0.11	$ 0.11	$ 0.20	$ 0.16
Diluted Earnings per share	$ 0.11	$ 0.10	$ 0.20	$ 0.15

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 5,241	$ 5,000	$ 9,250	$ 7,539
Other comprehensive income (loss), net of tax:
Net unrealized securities (losses) gains, net of tax (benefit) expense of $644, $(414), $(1,255) and $(338), respectively	932	(599)	(1,835)	(490)
Net unrealized derivative (losses) gains, net of tax (benefit) expense of $1, $(2), $(7) and $(24), respectively	1	(2)	(11)	(27)
Other comprehensive (loss) income	933	(601)	(1,846)	(517)
Comprehensive income	$ 6,174	$ 4,399	$ 7,404	$ 7,022

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement Of Income And Comprehensive Income [Abstract]
Tax (benefit) expense on unrealized securities (losses) gains	$ 644	$ (414)	$ (1,255)	$ (338)
Tax (benefit) expense on unrealized derivative (losses) gains	$ 1	$ (2)	$ (7)	$ (24)

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]
Beginning Balance at Dec. 31, 2014	$ 640,997	$ 466	$ 718,825	$ 14,463	$ (92,724)	$ (33)
Net income	7,539			7,539
Other comprehensive income (loss)	(517)					(517)
Issuance of restricted stock		4	(4)
Shares reacquired from employee transactions	(587)	(1)	1		(587)
Tax benefit (expense) from vesting of restricted stock	(158)		(158)
Repurchase of common stock	(14,785)	(12)	12		(14,785)
Issuance of warrants	21,766		21,766
Exercise of common stock options, net	1,276	1	1,275
Tax benefit from exercise of stock options	235		235
Amortization of restricted common stock awards	1,611		1,611
Ending Balance at Jun. 30, 2015	657,377	458	743,563	22,002	(108,096)	(550)
Beginning Balance at Dec. 31, 2015	659,478	465	742,970	31,353	(109,245)	(6,065)
Net income	9,250			9,250
Other comprehensive income (loss)	(1,846)					(1,846)
Issuance of restricted stock		6	(6)
Shares reacquired from employee transactions	(414)	(1)	1		(414)
Tax benefit (expense) from vesting of restricted stock	(474)		(474)
Repurchase of common stock	(8,668)	(12)	12		(8,668)
Exercise of common stock options, net	(1,759)	8	(1,767)
Tax benefit from exercise of stock options	1,293		1,293
Amortization of restricted common stock awards	1,863		1,863
Ending Balance at Jun. 30, 2016	$ 658,723	$ 466	$ 743,892	$ 40,603	$ (118,327)	$ (7,911)

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities:
Net income	$ 9,250,000	$ 7,539,000
Adjustments to reconcile net income to net cash used for operations:
Provision for credit losses	21,336,000	10,186,000
Depreciation, amortization and accretion	(4,975,000)	(4,733,000)
Amortization of debt issuance costs	8,910,000	11,025,000
Equity compensation expense	1,863,000	1,611,000
Gain on sale of Business Credit	(22,511,000)
(Gain) loss on sale of loans, net	(55,000)	46,000
Loss (gain) on total return swap	6,062,000	(2,064,000)
Gain on sale of equipment, net	(553,000)	(140,000)
Net change in deferred income taxes	3,974,000	(2,043,000)
Loans held-for-sale originated	(143,246,000)	(265,466,000)
Proceeds from sale of loans held-for-sale	233,109,000	168,556,000
Loss on loans held-for-sale, net	5,813,000	421,000
Net change in interest receivable	(2,570,000)	(3,113,000)
Net change in other assets	(4,586,000)	(9,250,000)
Net change in accrued interest payable	1,591,000	7,364,000
Net change in other liabilities	(16,028,000)	(4,361,000)
Net cash provided by operating activities	97,384,000	(84,422,000)
Cash flows from investing activities:
Net change in restricted cash	(53,402,000)	(94,118,000)
Net change in loans	7,369,000	(336,076,000)
Equity investment	(3,706,000)
Purchase of debt securities, available-for-sale	0	(62,157,000)
Proceeds from sale of other real estate owned		185,000
Acquisition of property and equipment	(8,000)	(101,000)
Net cash provided by (used in) investing activities	(49,747,000)	(492,267,000)
Cash flows from financing activities:
Proceeds from exercise of stock options, net	(1,767,000)	1,276,000
Tax benefit from exercise of stock options	1,293,000	235,000
Tax benefit (expense) from vesting of restricted stock	(474,000)	(158,000)
Advances on credit facilities	1,112,409,000	1,198,269,000
Repayment of borrowings on credit facilities	(1,379,952,000)	(1,051,114,000)
Issuance of term debt	255,750,000	426,550,000
Borrowings on term debt	27,600,000	31,500,000
Repayment of borrowings on term debt	(95,089,000)	(107,283,000)
Issuance of senior notes		300,000,000
Borrowing on subordinated notes	24,500,000
Borrowings on repurchase agreements	2,881,000	75,551,000
Repayment of borrowings on repurchase agreements	(34,681,000)	(33,568,000)
Repayment of corporate debt		(238,500,000)
Release (posting) of cash collateral	53,517,000	(3,577,000)
Payment of deferred financing costs	(5,841,000)	(14,845,000)
Purchase of treasury stock	(9,082,000)	(15,372,000)
Net cash (used in) provided by financing activities	(48,936,000)	568,964,000
Net increase (decrease) in cash during the period	(1,299,000)	(7,725,000)
Cash and cash equivalents at beginning of period	35,933,000	33,033,000
Cash and cash equivalents at end of period	34,634,000	25,308,000
Supplemental cash flows information:
Interest paid	76,328,000	46,055,000
Taxes paid, net of refund	4,652,000	3,432,000
Transfer of loans, net to loans held-for-sale, at fair value	56,989,000
Issuance of warrants		$ 21,766,000
Unsettled trades payable	$ 32,859,000

Organization

Organization	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Organization	Note 1. Organization NewStar Financial, Inc. (the “Company”) 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 loans originated through its leveraged finance lending platform. Through 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 and high yield bonds. 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 and systems, as well as 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 represents our direct lending activities which are focused on providing a range of flexible senior secured 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 represents our investment advisory activities which are focused on providing opportunities for qualified investors 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	6 Months Ended
	Jun. 30, 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. 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 May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) 2017. 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 2016-07, Simplifying the Transition to the Equity Method of Accounting (Topic 323) In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting (Topic 718). In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326) position.

Acquisition and Disposition Act

Acquisition and Disposition Activities	6 Months Ended
	Jun. 30, 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 first quarter of fiscal 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, 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 its asset based lending business, NewStar Business Credit LLC (“Business Credit”) to a third party. The Company opted to sell Business Credit because it was faced with challenges from increasing competition with access to lower cost of funding. 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.

Loans Held-for-Sale, Loans, Lea

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses	6 Months Ended
	Jun. 30, 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 June 30, 2016 and December 31, 2015, loans held-for-sale consisted of the following: June 30, 2016 December 31, 2015 ($ in thousands) Leveraged Finance $ 422,702 $ 485,874 Real Estate 23,760 — Gross loans held-for-sale 446,462 485,874 Deferred loan fees, net (6,363 ) (7,089 ) Total loans held-for-sale, net $ 440,099 $ 478,785 Loans classified as held-for-sale consist primarily of loans originated or purchased by the Company that are intended to be sold to third parties (including credit funds managed by the Company). During the three months ended June 30, 2016, the Company transferred a $23.8 million impaired Real Estate loan to held-for-sale. At the time of the transfer the Company took an additional provision expense of $0.1 million increasing the specific reserve to $4.5 million which was subsequently charged off. This impaired Real Estate loan is considered a troubled debt restructuring (“TDR”) and $3.2 million is on non-accrual as of June 30, 2016. Loans held-for-sale are carried at the lower of either market value or aggregate cost, net of any deferred origination costs or fees. At June 30, 2016, loans held-for-sale include loans with an aggregate outstanding balance of $431.1 million that were intended to be sold to credit funds managed by the Company. The Company sold loans with an aggregate outstanding balance of $129.4 million for a net loss of $0.09 million to entities other than credit funds managed by the Company during the six months ended June 30, 2016. The Company sold loans with an outstanding balance of $4.0 million for a loss of $0.1 million to entities other than credit funds managed by the Company during the six months ended June 30, 2015. As of June 30, 2016, and December 31, 2015, loans and leases consisted of the following: June 30, 2016 December 31, 2015 ($ in thousands) Leveraged Finance $ 3,044,824 $ 2,627,314 Business Credit — 342,281 Real Estate 17,741 100,732 Equipment Finance 165,234 173,253 Gross loans and leases (1) 3,227,799 3,243,580 Deferred loan fees and discount, net (51,203 ) (51,249 ) Allowance for loan and lease losses (63,535 ) (58,259 ) Total loans and leases, net $ 3,113,061 $ 3,134,072 (1) During the first quarter of 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. This loan was subsequently restructured and is reported as a TDR. 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 TDRs. The Company utilizes a number of analytical tools for the purpose of estimating probability of default and loss given default for its specialized lending groups. Management considers results from quantitative models in its Leveraged Finance and Equipment Finance lending groups, which utilize Moody’s KMV RiskCalc credit risk model in combination with a proprietary qualitative model. The Real Estate lending group considers results from a proprietary model that we have developed to capture risk characteristics unique to the lending activities in that line of business. The results from models used by each lending group assist management in determining an appropriate obligor risk rating, which corresponds to a probability of default, as well as a loss given default. In each case, the determined 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 June 30, 2016, $142.4 million of the Company’s loans were classified as “Criticized,” all of which were impaired loans, and $3.1 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”. A TDR that performs in accordance with the terms of its 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. 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 the asset’s deterioration may ultimately result in a loss and charge-off. 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 June 30, 2016, the Company had impaired loans with a balance of $165.3 million. Impaired loans with an aggregate outstanding balance of $136.9 million have been restructured and classified as TDRs. At June 30, 2016, additional funding commitments for TDRs totaled $4.9 million. As of June 30, 2016, the aggregate carrying value of equity investments in certain of the Company’s borrowers in connection with troubled debt restructurings totaled $11.0 million. Impaired loans with an aggregate outstanding balance of $95.9 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 and six months ended June 30, 2016, the Company charged off $6.9 million and $12.9 million, respectively, of non-accruing loan balances. During the three and six months ended June 30, 2016, the Company placed loans with an aggregate outstanding balance of $9.2 million and $14.3 million, respectively on non-accrual status. During the three and six months ended June 30, 2016, the Company recorded $2.4 million and $19.1 million, respectively, of net specific provisions for impaired loans. At June 30, 2016, the Company had a $32.9 million specific allowance for impaired loans with an aggregate outstanding balance of $117.5 million. At June 30, 2016, additional funding commitments for impaired loans totaled $8.4 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 June 30, 2016, the Company has one loan totaling $2.2 million on non-accrual status which was greater than 60 days past due and classified as delinquent by the Company. Included in the $32.9 million specific allowance for impaired loans was $0.2 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) June 30, 2016 Leveraged Finance $ 157,482 $ 152,105 $ 189,643 Real Estate (1) 7,188 7,188 7,188 Equipment Finance 623 581 623 Total $ 165,293 $ 159,874 $ 197,454 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 (1) In addition to the amounts reflected above, an impaired Real Estate loan of $23.8 million is classified as held-for-sale. Recorded Investment Related Allowance for Credit Losses Recorded Investment, net, with a Related Allowance for Credit Losses Recorded Investment without a Related Allowance for Credit Losses Recorded Investment, net, without a Related Allowance for Credit Losses ($ in thousands) June 30, 2016 Leveraged Finance $ 117,501 $ 112,220 $ 39,981 $ 39,885 Real Estate (1) — — 7,188 7,188 Equipment Finance — — 623 581 Total $ 117,501 $ 112,220 $ 47,792 $ 47,654 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 (1) In addition to the amounts reflected above, an impaired Real Estate loan of $23.8 million is classified as held-for-sale. During the three and six months ended June 30, 2016, the Company recorded net charge-offs of $6.9 million and $14.2 million, respectively. During the three and six months ended June 30, 2015, the Company recorded net charge-offs of $4.0 million and $3.9 million, respectively. The Company’s policy is to record a specific allowance for an impaired loan to cover the identified impairment of that loan. Based on the Company’s experience any potential charge-off of such loan would occur when any loan loss amount is considered to be confirmed. The Company may record the initial specific allowance related to an impaired loan in the same period as it records a partial charge-off in certain circumstances such as if the terms of a restructured loan are finalized during that period. When a loan is determined to be uncollectible, the specific allowance is charged off, which reduces the gross investment in the loan. While charge-offs of amounts previously reserved have no net impact on the carrying value of net loans and leases, charge-offs lower the level of the allowance for loan and lease losses; and, as a result, reduce the percentage of allowance for loans and leases to total loans and leases, and the percentage of allowance for loan and leases losses to non-performing loans. Below is a summary of the Company’s evaluation of its portfolio and allowance for loan and lease losses by impairment methodology: Leveraged Finance Real Estate Equipment Finance June 30, 2016 Investment Allowance Investment Allowance Investment Allowance ($ in thousands) Collectively evaluated (1) (2) $ 2,720,144 $ 29,257 $ 10,553 $ 91 $ 164,611 $ 1,307 Individually evaluated (3) 157,482 32,880 7,188 — 623 — Total $ 2,877,626 $ 62,137 $ 17,741 $ 91 $ 165,234 $ 1,307 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 (3) 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, and pursuant to amendments by ASU 2010-20 regarding allowance for unimpaired loans and leases. These loans and leases had a weighted average risk rating of 5.1 at June 30, 2016 and at December 31, 2015, based on the Company’s internally developed 12 point scale for the Leveraged Finance, Real Estate and Equipment Finance loans and leases. Business Credit Loans had a weighted average risk rating of 5.0 at December 31, 2015 based on the Company’s internally developed 10 point scale for Business Credit loans. (2) Excludes $167.2 million Leveraged Finance loans which the Company elected to record at fair value. (3) Represents loans individually evaluated for impairment in accordance with ASU 310-10, Receivables, Below is a summary of the Company’s investment in nonaccrual loans. Recorded Investment in Nonaccrual Loans June 30, 2016 December ($ in thousands) Leveraged Finance $ 95,932 $ 103,563 Business Credit — — Real Estate (1) — 7,705 Equipment Finance — — Total $ 95,932 $ 111,268 (1) In addition to the amounts reflected above, a nonaccrual Real Estate loan of $3.2 million at June 30, 2016 is classified as held-for-sale. Loans being restructured have typically developed adverse performance trends as a result of various factors, the result of which is an inability to comply with the terms of the applicable credit agreement governing the borrowers’ obligations to the Company. In order to mitigate default risk and/or liquidation, assuming that liquidation proceeds are not viewed as a more favorable outcome to the Company and other lenders, the Company will enter into negotiations with the borrower and its shareholders on the terms of a restructuring. When restructuring a loan, the Company undertakes an extensive diligence process which typically includes (i) development of a financial model with a forecast horizon that matches the term of the proposed restructuring, (ii) meetings with management of the borrower, (iii) engagement of third party consultants and (iv) other internal analyses. Once a restructuring proposal is developed, it is subject to approval by both the Company’s Underwriting and Investment Committee. Loans are only removed from TDR classification after a period of performance following the refinancing of outstanding obligations on terms which are determined to be “market” in all material respects. The Company may modify loans that are not determined to be a TDR. Where a loan is modified or restructured but loan terms are considered market and no concessions were given on the loan terms, including price, principal amortization or obligation, or other restrictive covenants, a loan will not be classified as a TDR. The Company has made the following types of concessions in the context of a TDR: Group I: · extension of principal repayment term · principal holidays · interest rate adjustments Group II: · partial forgiveness · conversion of debt to equity A summary of the types of concessions that the Company made with respect to TDRs at June 30, 2016 and December 31, 2015 is provided below: Group I Group II ($ in thousands) June 30, 2016 (1) $ 136,943 $ 107,199 December 31, 2015 $ 183,573 $ 162,986 (1) In additions to the amounts reflected above, a TDR Real Estate loan of $23.8 million is classified as held-for-sale. Note: A loan may be included in both restructuring groups, but not repeated within each group. For the three and six months ended June 30, 2016, the Company had $6.4 million and $7.5 million, respectively, of partial charge-offs related to loans previously classified as TDR. As of June 30, 2016, the Company had not removed the TDR classification from any loan previously identified as such, but had charged-off, sold and received repayments of outstanding TDRs. The Company measures TDRs similarly to how it measures all loans for impairment. The Company performs a discounted cash flow analysis on cash flow dependent loans and we assess the underlying collateral value less reasonable costs of sale for collateral dependent loans. Management analyzes the projected performance of the borrower to determine if it has the ability to service principal and interest payments based on the terms of the restructuring. Loans will typically not be returned to accrual status until at least six months of contractual payments have been made in a timely manner or the borrower shows significant ability to maintain servicing of the restructured debt. Additionally, at the time of a restructuring and quarterly thereafter, an impairment analysis is undertaken to determine the measurement of specific reserve, if any, on each impaired loan. Below is a summary of the Company’s loans which were newly classified as TDR and existing TDR loans which subsequently defaulted, in each case as of the dates presented. As of the Three and Six Months Ended June 30, 2016 Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Investment in TDR Subsequently Defaulted ($ in thousands) Leveraged Finance $ 1,775 $ 1,308 $ — Real Estate (1) — — 4,483 Equipment Finance — — — Total $ 1,775 $ 1,308 $ 4,483 (1) Amount reflects charge-off on an impaired Real Estate TDR that was taken prior to transfer to held-for-sale. As of the Three and Six Months Ended June 30, 2015 Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Investment in TDR Subsequently Defaulted ($ in thousands) Leveraged Finance $ — $ — $ 7,942 Business Credit — — — Real Estate — — — Equipment Finance 921 921 — Total $ 921 $ 921 $ 7,942 The following sets forth a breakdown of troubled debt restructurings at June 30, 2016 and December 31, 2015: As of June 30, 2016 Accrual Status For the six months ($ in thousands) Loan Type Accruing Nonaccrual Impaired Balance Specific Allowance Charged-off Leveraged Finance $ 49,325 $ 79,807 $ 129,132 $ 26,565 $ 3,003 Real Estate (1) 7,188 — 7,188 — 4,483 Equipment Finance 623 — 623 — — Total $ 57,136 $ 79,807 $ 136,943 $ 26,565 $ 7,486 (1) In addition to the amounts reflected above, an impaired Real Estate loan of $23.8 million is classified as held-for-sale. As of December 31, 2015 Accrual Status For the year ($ 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) June 30, 2016 Leveraged Finance $ — $ 2,155 $ 2,155 $ 3,042,669 $ 3,044,824 $ — Real Estate — — — 17,741 17,741 — Equipment Finance — — — 165,234 165,234 — Total $ — $ 2,155 $ 2,155 $ 3,225,644 $ 3,227,799 $ — 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 June 30, 2016 Leveraged Finance Real Estate Equipment Finance Total ($ in thousands) Balance, beginning of period $ 61,528 $ 4,422 $ 1,342 $ 67,292 Provision for credit losses—general 1,198 44 (35 ) 1,207 Provision for credit losses—specific 2,308 108 — 2,416 Loans charged off, net of recoveries (2,389 ) (4,483 ) — (6,872 ) Balance, end of period $ 62,645 $ 91 $ 1,307 $ 64,043 Balance, end of period—specific $ 32,880 $ — $ — $ 32,880 Balance, end of period—general $ 29,765 $ 91 $ 1,307 $ 31,163 Average balance of impaired loans $ 177,654 $ 34,209 $ — $ 211,863 Average net book value of impaired leases $ — $ — $ 660 $ 660 Interest recognized from impaired loans and leases $ 3,083 $ 785 $ 12 $ 3,880 Loans and leases (1) Loans individually evaluated with specific allowance $ 117,501 $ — $ — $ 117,501 Loans individually evaluated with no specific allowance 39,981 7,188 623 47,792 Loans and leases collectively evaluated without specific allowance 2,720,144 10,553 164,611 2,895,308 Total loans and leases $ 2,877,626 $ 17,741 $ 165,234 $ 3,060,601 (1) Excludes $167.2 million of Leveraged Finance loans which the Company elected to record at fair value. Six Months Ended June 30, 2016 Leveraged Finance Business Credit Real Estate Equipment Finance Total ($ in thousands) Balance, beginning of period $ 54,788 $ 1,991 $ 656 $ 1,291 $ 58,726 Provision for credit losses—general 1,425 (172 ) 1,009 16 2,278 Provision for credit losses—specific 14,881 — 4,177 — 19,058 Reversal due to sale of Business Credit — (1,819 ) — — (1,819 ) Loans charged off, net of recoveries (8,449 ) — (5,751 ) — (14,200 ) Balance, end of period $ 62,645 $ — $ 91 $ 1,307 $ 64,043 Balance, end of period—specific $ 32,880 $ — $ — $ — $ 32,880 Balance, end of period—general $ 29,765 $ — $ 91 $ 1,307 $ 31,163 Average balance of impaired loans $ 177,181 $ — $ 34,540 $ — $ 211,721 Average net book value of impaired leases $ — $ — $ — $ 723 $ 723 Interest recognized from impaired loans and leases $ 4,979 $ — $ 832 $ 12 $ 5,823 Three Months Ended June 30, 2015 Leveraged Finance Business Credit Real Estate Equipment Finance Total ($ in thousands) Balance, beginning of period $ 48,194 $ 1,330 $ 352 $ 863 $ 50,739 Provision for credit losses—general 967 (233 ) 25 (34 ) 725 Provision for credit losses—specific 2,537 –– (54 ) — 2,483 Loans charged off, net of recoveries (4,000 ) –– — — (4,000 ) Balance, end of period $ 47,698 $ 1,097 $ 323 $ 829 $ 49,947 Balance, end of period—specific $ 22,174 $ — $ 15 $ — $ 22,189 Balance, end of period—general $ 25,524 $ 1,097 $ 308 $ 829 $ 27,758 Average balance of impaired loans $ 163,027 $ — $ 36,594 $ — $ 199,621 Average net book value of impaired leases $ 852 $ 852 Interest recognized from impaired loans $ 3,334 $ — $ 396 $ 15 $ 3,745 Loans and leases Loans individually evaluated with specific allowance $ 91,692 $ — $ 27,704 $ — $ 119,396 Loans individually evaluated with no specific allowance 67,253 — 8,018 921 76,192 Loans and leases collectively evaluated without specific allowance 2,133,595 239,187 58,287 139,049 2,570,118 Total loans and leases $ 2,292,540 $ 239,187 $ 94,009 $ 139,970 $ 2,765,706 Six Months Ended June 30, 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 4,701 (237 ) 51 207 4,722 Provision for credit losses—specific 5,449 — 15 — 5,464 Loans charged off, net of recoveries (3,932 ) — — — (3,932 ) Balance, end of period $ 47,698 $ 1,097 $ 323 $ 829 $ 49,947 Balance, end of period—specific $ 22,174 $ — $ 15 $ — $ 22,189 Balance, end of period—general $ 25,524 $ 1,097 $ 308 $ 829 $ 27,758 Average balance of impaired loans $ 163,476 $ — $ 37,138 $ — $ 200,614 Average net book value of impaired leases $ — $ — $ — $ 992 $ 992 Interest recognized from impaired loans $ 5,569 $ — $ 782 $ 33 $ 6,384 Included in

Restricted Cash

Restricted Cash	6 Months Ended
	Jun. 30, 2016
Cash And Cash Equivalents [Abstract]
Restricted Cash	Note 5. Restricted Cash Restricted cash as of June 30, 2016 and December 31, 2015 was as follows: June 30, 2016 December 31, 2015 ($ in thousands) Collections on loans pledged to credit facilities $ 118,889 $ 67,892 Principal and interest collections on loans held in trust and prefunding amounts 88,350 85,823 Customer escrow accounts 155 277 Total $ 207,394 $ 153,992 As of June 30, 2016, the Company had the ability to use $54.1 million of restricted cash to fund new or existing loans.

Investments in Debt Securities,

Investments in Debt Securities, Available-for-Sale	6 Months Ended
	Jun. 30, 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 June 30, 2016 and December 31, 2015 was as follows: June 30, 2016 December 31, 2015 ($ in thousands) Investments in debt securities—gross $ 111,020 $ 111,020 Unamortized discount (6,437 ) (6,765 ) Investments in debt securities—amortized cost $ 104,583 $ 104,255 The amortized cost, gross unrealized holding gains, gross unrealized holding losses, and fair value of available-for-sale securities at June 30, 2016 and December 31, 2015 were as follows: Amortized cost Gross unrealized holding gains Gross unrealized holding losses Fair value ($ in thousands) June 30, 2016 Collateralized loan obligations $ 104,583 $ — $ (13,183 ) $ 91,400 $ 104,583 $ — $ (13,183 ) $ 91,400 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 six month period ended June 30, 2016, the Company did not purchase or sell any investment in debt securities available for sale. During the six months ended June 30, 2015, the Company purchased $62.2 million of debt securities. The Company did not sell any debt securities during the six months ended June 30, 2015. The Company did not record any net “Other-Than-Temporary Impairment” charges during the six months ended June 30, 2016. The following is an analysis of the continuous periods during which the Company has held investment positions which were carried at an unrealized loss as of June 30, 2016 and December 31, 2015: June 30, 2016 Less than 12 Months Greater than or Equal to 12 Months Total ($ in thousands) Number of positions 15 8 23 Fair value $ 58,597 $ 32,803 $ 91,400 Amortized cost 64,541 40,042 104,583 Unrealized loss $ (5,944 ) $ (7,239 ) $ (13,183 ) 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 June 30, 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 June 30, 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 June 30, 2016 and December 31, 2015: June 30, 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 34,164 28,610 34,017 30,470 Due after ten years through fifteen years 70,419 62,790 70,238 63,707 Total $ 104,583 $ 91,400 $ 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	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Borrowings	Note 7. Borrowings Credit Facilities As of June 30, 2016 the Company had four credit facilities through certain of its wholly owned subsidiaries: (i) a $615 million credit facility with syndicated lenders agented by Wells Fargo Bank, National Association (“Wells Fargo”) to fund leveraged finance loans, (ii) a $350 million credit facility with Credit Suisse AG, Cayman Island Branch (“Credit Suisse”) 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 June 30, 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 $615.0 million credit facility with syndicated lenders agented by Wells Fargo to fund leveraged finance loans. The credit facility had an outstanding balance of $261.6 million and unamortized deferred financing fees of $7.2 million as of June 30, 2016. In February 2016 and June 2016, the Company upsized this facility, which increased the commitment amount from $475.0 million to $615.0 million. Interest on this facility accrues at a variable rate per annum. The facility matures on August 10, 2020. The facility provides for a revolving reinvestment period which ends on August 10, 2018, with a two-year amortization period. The Company has a $350.0 million note purchase agreement with Credit Suisse under the terms of which Credit Suisse has agreed to provide financing to a warehouse to fund the purchase of broadly syndicated bank loans. 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. This credit facility was initially supplemented by a $25 million junior note commitment by the Company, which is subordinate to the rights of Credit Suisse as senior noteholder, and from which 50% of aggregate draws are advanced. In June 2016, the junior note commitment was increased to $39 million in exchange for lower interest rates at some borrowing levels as well as increases in the borrowing base prior to marketing and closing the CLO transaction that is anticipated to refinance the notes. The credit facility had an outstanding balance of $110.0 million as of June 30, 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 $187.9 million and unamortized deferred financing fees of $2.8 million as of June 30, 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 $0.5 million as of June 30, 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 million and the $165.0 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 first quarter of 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 used a portion of the net proceeds from the April notes offering to repay in full its corporate credit facility with Fortress Credit Corp. 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. 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 June 30, 2016, unamortized deferred financing fees were $6.3 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 in December 2014 and January 2015, which was $57.1 million as of June 30, 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 June 30, 2016, unamortized deferred financing fees were $5.2 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. 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 June 30, 2016, the $111.2 million of outstanding drawn notes were collateralized by the specific loans and investments, principal collection account cash and principal payment receivables totaling $165.4 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 $1.0 million of the 2007-1 CLO Trust’s Class D notes. During 2009, Moody’s downgraded all of the notes of the 2007-1 CLO Trust. As a result of the downgrade, amortization of the 2007-1 CLO Trust changed from pro rata to sequential, resulting in scheduled principal payments thereafter made in order of the notes’ seniority until all available funds are exhausted for each payment. The Company receives a loan collateral management fee and excess interest spread. The Company also receives payments with respect to the classes of notes it owns in accordance with the transaction documents. The Company expects to receive a principal distribution as owner of the trust certificates when the term debt is retired. If loan collateral in the 2007-1 CLO Trust is in default under the terms of the indenture, the excess interest spread from the 2007-1 CLO Trust would not be distributed until the undistributed cash plus recoveries equals the outstanding balance of the defaulted loan or if the Company elected to remove the defaulted collateral. The following table sets forth selected information with respect to the 2007-1 CLO Trust: Notes originally issued Outstanding balance June 30, 2016 Interest rate Legal final maturity ($ in thousands) 2007-1 CLO Trust Class A-1 $ 336,500 $ 6,039 Libor+0.24% September 30, 2022 Class A-2 100,000 1,900 Libor+0.26% September 30, 2022 Class B 24,000 24,000 Libor+0.55% September 30, 2022 Class C 58,500 58,293 Libor+1.30% September 30, 2022 Class D 27,000 21,000 Libor+2.30% September $ 546,000 $ 111,232 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 June 30, 2016, the $268.0 million of outstanding drawn notes were collateralized by the specific loans and investments, principal collection account cash and principal payment receivables totaling $314.3 million. At June 30, 2016, unamortized deferred financing fees were $1.1 million. The 2012-2 CLO permitted reinvestment of collateral principal repayments for a three-year period which ended in January 2016. The Company receives a loan collateral management fee and excess interest spread. The Company also receives payments with respect to the classes of notes it owns in accordance with the transaction documents. The Company expects to receive a principal distribution as owner of the membership interests when the term debt is retired. If loan collateral in the 2012-2 CLO is in default under the terms of the indenture, the excess interest spread from the 2012-2 CLO may not be distributed if the overcollateralization ratio, or other collateral quality tests, are not satisfied. The following table sets forth selected information with respect to the 2012-2 CLO: Notes originally issued Outstanding balance June 30, 2016 Interest rate Legal final maturity ($ in thousands) 2012-2 CLO Class A $ 190,700 $ 179,071 Libor+1.90% January Class B 26,000 26,000 Libor+3.25% January 20, 2023 Class C 35,200 35,200 Libor+4.25% January 20, 2023 Class D 11,400 11,400 Libor+6.25% January 20, 2023 Class E 16,300 16,300 Libor+6.75% January 20, 2023 $ 279,600 $ 267,971 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 June 30, 2016, the $333.2 million of outstanding drawn notes were collateralized by the specific loans and investments, principal collection account cash and principal payment receivables totaling $394.6 million. At June 30, 2016, unamortized deferred financing fees were $3.1 million. The 2013-1 CLO permits reinvestment of collateral principal repayments for a three-year period ending in September 2016. Should the Company determine that reinvestment of collateral principal repayments are impractical in light of market conditions or if collateral principal repayments are not reinvested within a prescribed timeframe, such funds may be used to repay the outstanding notes. The Company receives a loan collateral management fee and excess interest spread. The Company also receives payments with respect to the classes of notes it owns in accordance with the transaction documents. The Company expects to receive a principal distribution as owner of the membership interests when the term debt is retired. If loan collateral in the 2013-1 CLO is in default under the terms of the indenture, the excess interest spread from the 2013-1 CLO may not be distributed if the overcollateralization ratio, or other collateral quality tests, are not satisfied. The following table sets forth selected information with respect to the 2013-1 CLO: Notes originally issued Outstanding balance June 30, 2016 Interest rate Legal final maturity ($ in thousands) 2013-1 CLO Class A-T $ 202,600 $ 202,600 Libor+1.65% September Class A-R 35,000 29,600 (1) September 20, 2023 Class B 38,000 38,000 Libor+2.30% September 20, 2023 Class C 36,000 36,000 Libor+3.80% September 20, 2023 Class D 21,000 21,000 Libor+4.55% September 20, 2023 Class E 6,000 6,000 Libor+5.30% September 20, 2023 $ 338,600 $ 333,200 (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. 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 June 30, 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 June 30, 2016, unamortized deferred financing fees were $2.2 million. The 2014-1 CLO permits reinvestment of collateral principal repayments for a four-year period ending in April 2018. Should the Company determine that reinvestment of collateral principal repayments are impractical in light of market conditions or if collateral principal repayments are not reinvested within a prescribed timeframe, such funds may be used to repay the outstanding notes. The Company receives a loan collateral management fee and excess interest spread. The Company also receives payments with respect to the classes of notes it owns in accordance with the transaction documents. The Company expects to receive a principal distribution as owner of the membership interests when the term debt is retired. If loan collateral in the 2014-1 CLO is in default under the terms of the indenture, the excess interest spread from the 2014-1 CLO may not be distributed if the overcollateralization ratio, or other collateral quality tests, are not satisfied. The following table sets forth selected information with respect to the 2014-1 CLO: Notes originally issued Outstanding balance June 30, 2016 Interest rate Legal final maturity ($ in thousands) 2014-1 CLO Class A $ 202,500 $ 202,500 Libor+1.80% April Class B-1 20,000 20,000 Libor+2.60% April 20, 2025 Class B-2 13,250 13,250 (1) April 20, 2025 Class C 30,250 30,250 Libor+3.60% April 20, 2025 Class D 23,500 23,500 Libor+4.75% April 20, 2025 $ 289,500 $ 289,500 (1) Class B-2 Notes accrue interest at a fixed rate of 4.902%. 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 June 30, 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 June 30, 2016, unamortized deferred financing fees were $3.6 million. The 2015-1 CLO permits reinvestment of collateral principal repayments for a four-year period ending in April 2019. Should the Company determine that reinvestment of collateral principal repayments are impractical in light of market conditions or if collateral principal repayments are not reinvested within a prescribed timeframe, such funds may be used to repay the outstanding notes. The Company receives a loan collateral management fee and excess interest spread. The Company also receives payments with respect to the classes of notes it owns in accordance with the transaction documents. The Company expects to receive a principal distribution as owner of the membership interests when the term debt is retired. If loan collateral in the 2015-1 CLO is in default under the terms of the indenture, the excess interest spread from the 2015-1 CLO may not be distributed if the overcollateralization ratio, or other collateral quality tests, are not satisfied. The following table sets forth selected information with respect to the 2015-1 CLO: Notes originally issued Outstanding balance June 30, 2016 Interest rate Legal final maturity ($ in thousands) 2015-1 CLO Class A-1 $ 253,500 $ 253,500 Libor+1.80% January 20, 2027 Class A-2 35,000 35,000 (1) January 20, 2027 Class B 50,000 50,000 Libor+2.80% January 20, 2027 Class C 38,500 38,500 Libor+3.85% January 20, 2027 Class D 33,250 33,250 Libor+5.50% January 20, 2027 $ 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. 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 June 30, 2016, the $30.6 million of outstanding notes were secured by cash, leases and equipment loans totaling $71.2 million. At June 30, 2016, unamortized deferred financing fees were $1.1 million. The Company receives a collateral management fee and excess interest spread. The Company also receives payments with respect to the classes of notes it owns in accordance with the transaction documents. The Company expects to receive a principal distribution as owner of the membership interests when the term debt is retired. If loan collateral in the 2015-1 ABS is in default under the terms of the indenture, the excess interest spread may not be distributed if the target overcollateralization ratio, or other performance based tests, are not satisfied. The following table sets forth selected information with respect to the 2015-1 ABS: Notes originally issued Outstanding balance June 30, 2016 Interest rate Legal final maturity ($ in thousands) 2015-1 ABS Class A $ 70,046 30,632 3.27% April 15, 2019 $ 70,046 $ 30,632 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 June 30, 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 June 30, 2016, unamortized deferred financing fees were $3.3 million. The 2015-2 CLO permits reinvestment of collateral principal repayments for a four-year period ending in August 2019. Should the Company determine that reinvestment of collateral principal repayments are impractical in light of market conditions or if collateral principal repayments are not reinvested within a prescribed timeframe, such funds may be used to repay the outstanding notes. The Company receives a loan collateral management fee and excess interest spread. The Company also receives payments with respect to the classes of notes it owns in accordance with the transaction documents. The Company expects to receive a principal distribution as owner of the membership interests when the term debt is retired. If loan collateral in the 2015-2 CLO is in default under the terms of the indenture, the excess interest spread from the 2015-2 CLO may not be distributed if the overcollateralization ratio, or other collateral quality tests, are not satisfied. The following table sets forth selected information with respect to the 2015-2 CLO: Notes originally issued Outstanding balance June 30, 2016 Interest rate Legal final maturity ($ in thousands) 2015-2 CLO Class A-1 $ 205,000 $ 205,000 Libor+2.00% August 25, 2027 Class A-2 23,000 23,000 (1) August 25, 2027 Class B 40,000 40,000 Libor+2.90% August 25, 2027 Class C 26,250 26,250 Libor+3.95% August 25, 2027 Class D 28,500 28,500 Libor+5.25% August 25, 2027 Class E 5,000 5,000 Libor+7.50% August 25, 2027 $ 327,750 $ 327,750 (1) Class A-2 Notes accrue interest at a fixed rate of 3.461%. 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 June 30, 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 June 30, 2016, unamortized deferred financing fees were $2.6 million. The 2016-1 CLO permits reinvestment of collateral principal repayments for a four-year period ending in February 2020. Should the Company determine that reinvestment of collateral principal repayments are impractical in light of market conditions or if collateral principal repayments are not reinvested within a prescribed timeframe, such funds may be used to repay the outstanding notes. The following table sets forth selected information with respect to the 2016-1 CLO: Notes originally issued Outstanding balance June 30, 2016 Interest rate Legal final maturity ($ in thousands) 2016-1 CLO Class A-1 $ 176,500 $ 176,500 Libor+2.30% February 25, 2028 Class A-2 20,000 20,000 (1) February 25, 2028 Class B 36,750 36,750 Libor+3.75% February 25, 2028 Class C 22,500 22,500 Libor+5.40% February 25, 2028 $ 255,750 $ 255,750 (1) Class A-2 Notes accrue interest at a fixed rate of 3.44%.

Repurchase Agreements

Repurchase Agreements	6 Months Ended
	Jun. 30, 2016
Banking And Thrift [Abstract]
Repurchase Agreements	Note 8. Repurchase Agreements At June 30, 2016 At December 31, 2015 ($ in thousands) Outstanding at end of period $ 64,988 $ 96,789 Deferred financing fees and debt discount $ 363 $ 565 Repurchase agreements, net $ 64,625 $ 96,224 Weighted average rate at end of period 3.09 % 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 June 30, 2016. As of June 30, 2016, the outstanding balance was $10.7 million and unamortized deferred financing fees were $0.4 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 June 30, 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 June 30, 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 June 30, 2016, the outstanding balance was $37.8 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 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 June 30, 2016, the outstanding balance was $1.7 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	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Stockholders' Equity	Note 9. Stockholders’ Equity Stockholders’ Equity As of June 30, 2016 and December 31, 2015, the Company’s authorized capital consists of preferred and common stock and the following was authorized and outstanding: June 30, 2016 December 31, 2015 Shares authorized Shares outstanding Shares authorized Shares outstanding (In thousands) Preferred stock 5,000 — 5,000 — Common stock 145,000 46,664 145,000 46,527 Preferred Stock The Company’s authorized capital stock includes 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 to authorize the repurchase of up to an aggregate of $30.0 million of the Company’s common stock (inclusive of approximately $4.9 million 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 June 30, 2016, the Company had repurchased 1,222,648 shares of common stock, under this program at a weighted average price per share of $7.16, of which 1,000,000 shares were repurchased in a privately negotiated transaction with an unaffiliated third party for an aggregate purchase price of $7.0 million. 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 $10.3 million. Warrants On January 23, 2015, the Company completed its December 4, 2014 issuance of warrants as part of the strategic relationship with Franklin Square Capital Partners (“Franklin Square”). The Company issued the second tranche of warrants to purchase 2.5 million shares of its common stock subject to the same terms as the warrants that were issued on December 4, 2014. Restricted Stock During the six months ended June 30, 2016, the Company issued 523,903 shares of restricted stock to certain employees of the Company pursuant to the Company’s 2006 Incentive Plan, as amended and 74,020 shares of restricted stock to certain members of its Board of Directors. The fair value of the shares of restricted stock is equal to the closing price of the Company’s stock on the date of issuance. The shares of restricted stock issued to employees of the Company vest in three equal installments on each of the first three anniversaries of the date of grant. Restricted stock activity for the six months ended June 30, 2016 was as follows: Shares Grant-date fair value ($ in thousands) Non-vested as of December 31, 2015 496,704 $ 5,629 Granted 597,923 3,835 Vested (241,471 ) (2,789 ) Forfeited (555 ) (9 ) Non-vested as of June 30, 2016 852,601 $ 6,666 The Company’s compensation expense related to restricted stock was $0.9 million and $1.9 million, respectively, for the three and six months ended June 30, 2016 and $0.9 million and $1.6 million, respectively, for the three and six months ended June 30, 2015. The unrecognized compensation cost of $4.2 million at June 30, 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 six months ended June 30, 2016 was as follows: Options Outstanding as of December 31, 2015 2,513,532 Granted — Exercised (1,684,513 ) Forfeited (22,500 ) Outstanding as of June 30, 2016 806,519 Vested and exercisable as of June 30, 2016 806,519 As of June 30, 2016 and December 31, 2015, the Company has recognized all compensation costs related to options granted.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 2016 and 2015 are as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (In thousands) Numerator: Net income to common shareholders $ 5,241 $ 5,000 $ 9,250 $ 7,539 Net income allocated to participating securities - basic and diluted 94 58 151 80 Net income allocated to common shareholders - basic and diluted 5,147 4,942 9,099 7,459 Denominator: Denominator for basic earnings per common share 46,011 45,912 46,157 46,339 Denominator for diluted earnings per common share: Denominator for basic earnings per common share 46,011 45,912 46,157 46,339 Potentially dilutive securities - options — 2,624 — 2,625 Potentially dilutive securities – restricted stock — — — — Potentially dilutive securities - warrants — — — — Total weighted average diluted shares 46,011 48,536 46,157 48,964 Earnings per common share Basic $ 0.11 $ 0.11 $ 0.20 $ 0.16 Diluted $ 0.11 $ 0.10 $ 0.20 $ 0.15 Warrants to purchase common stock totaling 12,000,000 were not included in the computation of earnings per share for the three and six months ended June 30, 2016 and 2015 due to the fact that the results would be anti-dilutive. Stock options totaling 806,519 were not included in the computation of earnings per share for the three and six months ended June 30, 2016 due to the fact that the results would be anti-dilutive.

Variable Interest Entities

Variable Interest Entities	6 Months Ended
	Jun. 30, 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. Consolidated VIEs are disclosed in Note 7. 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 $20.4 million. The Clarendon Fund employs an independent investment professional who is responsible for reviewing and approving investment recommendations made to the Clarendon Fund by the Company. The following table sets forth the information with respect to the unconsolidated VIEs for which the Company holds a variable interest in as of June 30, 2016 and December 31, 2015: June 30, 2016 December 31, 2015 ($ in thousands) Unconsolidated VIE assets $ 417,709 $ 483,581 Unconsolidated VIE liabilities 361,497 362,383 Equity interest included on the Consolidated Balance Sheet 23,743 23,910 Maximum risk of loss (1) 24,160 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. In October 2015, NewStar acquired FOC Partners, which now operates as NewStar Capital. NewStar Capital 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	6 Months Ended
	Jun. 30, 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: June 30, 2016 December 31, 2015 ($ in thousands) Unused lines of credit $ 283,802 $ 601,805 Standby letters of credit 6,339 8,696

Total Return Swap

Total Return Swap	6 Months Ended
	Jun. 30, 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 $138.9 million of the loans in the referenced portfolio. The majority of these loans were purchased to fund future CLOs of the Company and its wholly owned subsidiary NewStar Capital. The Company recorded these loans at fair value which was determined by using the The net receivable and realized loss on the total return swap on the consolidated balance sheet and consolidated statements of operations as of and for the six months ended June 30, 2016 consisted of the following : Net Receivable Net Realized Gains/(Losses) ($ in thousands) Interest income from TRS portfolio $ — $ 2,224 TRS interest expense — (848 ) Realized loss on TRS — (6,122 ) TRS receivable 1,197 — 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 was 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 was 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 June 30, 2016 and December 31, 2015, the Company had cash collateral on deposit with Citibank of $0 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	6 Months Ended
	Jun. 30, 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. During the six months ended June 30, 2016, the Company recorded a $0.3 million gain from the change in fair value which was recorded in other miscellaneous income, net. 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. At June 30, 2016, the Company no longer participated in the TRS. At December 31, 2015, the TRS with Citibank was included within Other liabilities on the consolidated balance sheet. The TRS had a maximum notional amount of $175.0 million and was 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. 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 six months ended June 30, 2016, the Company recorded $4.2 million of specific allowance for credit losses related to “Collateral dependent impaired loans” measured at fair value at June 30, 2016, which was subsequently charged off when the impaired loans were transferred to the held-for-sale portfolio. During 2015, the Company recorded $0.3 million of specific allowance for credit losses related to “Collateral dependent impaired loans” measured at fair value. Loans held-for-sale Loans held-for-sale are carried at the lower of cost or fair value. Loans held-for-sale measured at fair value 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. 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 six months ended June 30, 2016, the Company recorded a $5.8 million loss related to “Loans, held-for-sale” measured at fair value. During 2015, the Company recorded a $2.6 million loss related to “Loans, held-for-sale” measured at fair value. at December 31, 2015. Other real estate owned or repossessed assets The Company does not record other real estate owned or repossessed assets at fair value on a recurring basis. The fair value is estimated using one of several methods, including collateral value, market value of similar properties, liquidation value and discounted cash flows. M anagement may adjust the fair value for estimated costs to sell or adjust values to reflect estimated market value declines or apply other discounts to values. The following table presents recorded amounts of assets and liabilities measured at fair value on a recurring and nonrecurring basis as of June 30, 2016, by caption in the consolidated balance sheet and by ASC 820 valuation hierarchy (as described above). Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Carrying Value in Consolidated Balance Sheet ($ in thousands) Recurring Basis: Assets: Investments in debt securities, available-for-sale $ — $ — $ 91,400 $ 91,400 Loans — 167,198 — $ 167,198 Total assets recorded at fair value on a recurring basis $ — $ 167,198 $ 91,400 $ 258,598 Nonrecurring Basis: Loans, held-for-sale — 190,580 67,279 $ 257,859 Other real estate owned/repossessed assets — — 250 $ 250 Total assets recorded at fair value on a nonrecurring basis $ — $ 190,580 $ 67,529 $ 258,109 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 The following table presents a summary of significant unobservable inputs and valuation techniques of the Company’s Level 3 fair value measurements at June 30, 2016. Fair Valuation Techniques Unobservable Input Range ($ in thousands) Financial assets: Investments in debt securities, available-for-sale $ 91,400 Third-party Pricing Loans, held-for-sale 67,279 Discounted cash flow 5% -10% Other real estate/repossessed assets 250 Appraisal Cost to sell 3%- 7% Total: $ 158,929 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 and six months ended June 30, 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 and six months ended June 30, 2016 and 2015. For the three months ended June 30, 2016: Investments Debt Securities, Available-for-sale ($ Balance as of March 31, 2016 $ 89,687 Total gains or losses (realized/unrealized) Included in earnings 137 Included in other comprehensive income (loss) 1,576 Purchases — Issuances — Settlements — Balance as of June 30, 2016 $ 91,400 For the three months ended June 30, 2015: Investments Debt Securities, Available-for-sale ($ Balance as of March 31, 2015 $ 79,891 Total gains or losses (realized/unrealized) Included in earnings 133 Included in other comprehensive income (loss) (1,013 ) Purchases 29,443 Issuances — Settlements — Balance as of June 30, 2015 $ 108,454 For the six months ended June 30, 2016: Investments Debt Securities, Available-for-sale ($ Balance as of December 31, 2015 $ 94,177 Total gains or losses (realized/unrealized) Included in earnings 313 Included in other comprehensive income (loss) (3,090 ) Purchases — Issuances — Settlements — Balance as of June 30, 2016 $ 91,400 For the six months ended June 30, 2015: Investments Debt Securities, Available-for-sale ($ Balance as of December 31, 2014 $ 46,881 Total gains or losses (realized/unrealized) Included in earnings 244 Included in other comprehensive income (loss) (828 ) Purchases 62,157 Issuances — Settlements — Balance as of June 30, 2015 $ 108,454 The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments at June 30, 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. June 30, 2016 December 31, 2015 Carrying amount Fair Carrying amount Fair ($ in thousands) Financial assets: Cash and cash equivalents $ 34,634 $ 34,634 $ 35,933 $ 35,933 Restricted cash 207,394 207,394 153,992 153,992 Cash collateral on deposit with custodian 7,564 7,564 61,081 61,081 Investments in debt securities available-for-sale 91,400 91,400 94,177 94,177 Loans held-for-sale, net 440,099 446,254 478,785 483,781 Loans and leases, net 3,113,061 3,094,589 3,134,072 3,147,117 Other assets 16,838 16,838 14,255 14,255 Financial liabilities: Credit facilities, net $ 565,799 $ 565,799 $ 832,686 $ 843,896 Term debt, net 2,009,184 2,004,339 1,821,519 1,819,344 Senior notes, net 373,006 359,100 372,153 368,600 Subordinated notes, net 237,696 280,041 209,509 266,857 Repurchase agreements, net 64,625 66,195 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 June 30, 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, cash collateral on deposit with custodian, investments in debt securities available-for-sale, and financial information disclosed above. Fair Value Measurements June 30, 2016 Carrying amount Fair Level 1 Level 2 Level 3 ($ in thousands) Financial assets: Loans and leases, net $ 3,113,061 $ 3,094,589 $ — $ — $ 3,094,589 Loans held-for-sale, net 440,099 446,254 — 294,436 151,818 Other assets 16,838 16,838 — — 16,838 Financial liabilities: Credit facilities, net 565,799 565,799 — 565,799 — Term debt securitizations, net 2,009,184 2,004,339 — 2,004,339 — Repurchase agreements, net 64,625 66,195 — 66,195 — Senior notes, net 373,006 359,100 — 359,100 — Subordinated notes, net 237,696 280,041 — — 280,041 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 — Valuation of Other Financial Instruments The methodologies for estimating the fair value of financial instruments that are measured at fair value on a recurring or nonrecurring basis are discussed above. The methodologies for other financial instruments are discussed below. 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. 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, through March 31, 2016, the total return swap. The non-public investments are carried within other assets at $16.8 million and $14.3 million, as of June 30, 2016 and December 31, 2015, respectively. These investments are in the form of equity or warrants and are obtained as part of the loan origination process. The investments are initially recorded at cost and reviewed quarterly. If the fair value is less than cost then the investment is written down to fair value with the necessary adjustment recorded through 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 equity and warrants as Level 3. The total return swap, which was included in other liabilities as of December 31, 2015, 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 classified the total return swap as Level 2.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 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 represents our direct lending activities which are focused on providing a range of flexible senior secured 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 represents our investment advisory activities which are focused on providing opportunities for qualified investors 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. The following tables presents the statement of operations and total assets for the Company’s reportable segments: Three Months Ended June 30, 2016 Commercial Lending Asset Management Consolidated Total Net interest income: $ 19,760 $ 1,146 $ 20,906 Provision for loan losses 3,623 — 3,623 Net interest income after provision 16,137 1,146 17,283 Noninterest income: Management fees — 3,096 3,096 Performance fees — 447 447 Other lending fees 1,665 32 1,697 Other noninterest income (1) (1,408 ) 527 (881 ) Total noninterest income: 257 4,102 4,359 Non-interest expense 10,359 2,481 12,840 Income before income taxes $ 6,035 $ 2,767 $ 8,802 Income tax expense 3,561 Net income $ 5,241 (1) Includes fair value adjustments on Loans held-for-sale and fair value portfolio. Six Months Ended June 30, 2016 Commercial Lending Asset Management Consolidated Total Net interest income: $ 41,617 $ 1,808 $ 43,425 Provision for loan losses 21,336 — 21,336 Net interest income after provision 20,281 1,808 22,089 Noninterest income: Management fees — 6,143 6,143 Performance fees — 841 841 Other lending fees 2,858 32 2,890 Other noninterest income (1) 13,222 415 13,637 Total noninterest income: 16,080 7,431 23,511 Non-interest expense 25,194 4,714 29,908 Income before income taxes $ 11,167 $ 4,525 $ 15,692 Income tax expense 6,442 Net income $ 9,250 (1) Includes fair value adjustments on Loans held-for-sale and fair value portfolio. Three months ended June 30, 2015 Commercial Lending Asset Management Consolidated Total ($ in thousands) Net interest income $ 15,672 $ 114 $ 15,786 Provision for loan losses 3,208 — 3,208 Net interest income after provision 12,464 114 12,578 Noninterest income: Management fees — 1,015 1,015 Performance fees — — — Other lending fees 4,754 — 4,754 Other noninterest income (1) 1,660 — 1,660 Total Noninterest income: 6,414 1,015 7,429 Non-interest expense 11,018 426 11,444 Income before income taxes $ 7,860 $ 703 $ 8,563 Income tax expense 3,563 Net income $ 5,000 (1) Includes fair value adjustment on Loans held-for-sale. Six months ended June 30, 2015 Commercial Lending Asset Management Consolidated Total ($ in thousands) Net interest income $ 33,500 $ (299 ) $ 33,201 Provision for loan losses 10,186 — 10,186 Net interest income after provision 23,314 (299 ) 23,015 Noninterest income: Management fees — 1,935 1,935 Performance fees — — — Other lending fees 5,912 — 5,912 Other noninterest income (1) 3,708 — 3,708 Total Noninterest income: 9,620 1,935 11,555 Non-interest expense 20,904 772 21,676 Income before income taxes $ 12,030 $ 864 $ 12,894 Income tax expense 5,355 Net income $ 7,539 (1) Includes fair value adjustment on Loans held-for-sale. June 30, 2016 Commercial Lending Asset Management Total ($ in thousands) Loans and leases, gross (including loans at fair value of $167,198) $ 3,060,601 $ 167,198 $ 3,227,799 Loans held-for-sale, gross 446,462 — 446,462 Investments in debt securities, available-for-sale — 91,400 91,400 Other 163,556 62,644 226,200 Total Balance Sheet Assets 3,670,619 321,242 3,991,861 Illiquid Credit funds * — 810,621 810,621 Liquid/Tradeable Credit * — 2,000,539 2,000,539 Total Assets 3,670,619 3,132,402 6,803,021 Less: Non Managed assets (1) 163,556 56,207 219,763 Total Managed Assets $ 3,507,063 $ 3,076,195 $ 6,583,258 (1) Other less unamortized discount on investment in debt securities, available-for-sale. *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. 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 — 94,177 94,177 Other 205,256 22,496 227,752 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: Non Managed assets (1) 205,256 15,731 220,987 Total Managed Assets $ 3,729,454 $ 3,220,012 $ 6,949,466 (1) Other less unamortized discount on investment in debt securities, available-for-sale. *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	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 2016, the Clarendon Fund’s collateral management fee was $0.5 million and $1.0 million, respectively, and for the three and six months ended June 30, 2015, the Clarendon Fund’s collateral management fee was $0.5 million and $0.9 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 and six months ended June 30, 2016, the Arlington Program’s collateral management fee was $0.5 million and $1.0 million, respectively, and for the three and six months ended June 30, 2015, the Arlington Program’s collateral management fee was $0.5 million and $1.0 million, respectively. 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 and six months ended June 30, 2016, the Fund paid the Company zero and $0.04 million, respectively, and for the three and six months ended June 30, 2015, the Fund paid the Company $0.03 million and $0.06 million, respectively.

Summary of Significant Accoun25

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 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.
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 May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) 2017. 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 2016-07, Simplifying the Transition to the Equity Method of Accounting (Topic 323) In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting (Topic 718). In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326) position.

Summary of Significant Accoun26

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
ASU 2015-03 Impact on Condensed Consolidated Balance Sheet	The adoption of ASU 2015-03 had the following impact on the Condensed Consolidated Balance Sheet as of December 31, 2015. (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)	6 Months Ended
	Jun. 30, 2016
Receivables [Abstract]
Loans Held-for-Sale	As of June 30, 2016 and December 31, 2015, loans held-for-sale consisted of the following: June 30, 2016 December 31, 2015 ($ in thousands) Leveraged Finance $ 422,702 $ 485,874 Real Estate 23,760 — Gross loans held-for-sale 446,462 485,874 Deferred loan fees, net (6,363 ) (7,089 ) Total loans held-for-sale, net $ 440,099 $ 478,785
Summary of Loans and Leases	As of June 30, 2016, and December 31, 2015, loans and leases consisted of the following: June 30, 2016 December 31, 2015 ($ in thousands) Leveraged Finance $ 3,044,824 $ 2,627,314 Business Credit — 342,281 Real Estate 17,741 100,732 Equipment Finance 165,234 173,253 Gross loans and leases (1) 3,227,799 3,243,580 Deferred loan fees and discount, net (51,203 ) (51,249 ) Allowance for loan and lease losses (63,535 ) (58,259 ) Total loans and leases, net $ 3,113,061 $ 3,134,072 (1)
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) June 30, 2016 Leveraged Finance $ 157,482 $ 152,105 $ 189,643 Real Estate (1) 7,188 7,188 7,188 Equipment Finance 623 581 623 Total $ 165,293 $ 159,874 $ 197,454 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 (1) In addition to the amounts reflected above, an impaired Real Estate loan of $23.8 million is classified as held-for-sale. Recorded Investment Related Allowance for Credit Losses Recorded Investment, net, with a Related Allowance for Credit Losses Recorded Investment without a Related Allowance for Credit Losses Recorded Investment, net, without a Related Allowance for Credit Losses ($ in thousands) June 30, 2016 Leveraged Finance $ 117,501 $ 112,220 $ 39,981 $ 39,885 Real Estate (1) — — 7,188 7,188 Equipment Finance — — 623 581 Total $ 117,501 $ 112,220 $ 47,792 $ 47,654 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 (1) In addition to the amounts reflected above, an impaired Real Estate loan of $23.8 million is classified as held-for-sale.
Evaluation Summary of Portfolio and Allowance for Loan and Lease Losses by Impairment	Below is a summary of the Company’s evaluation of its portfolio and allowance for loan and lease losses by impairment methodology: Leveraged Finance Real Estate Equipment Finance June 30, 2016 Investment Allowance Investment Allowance Investment Allowance ($ in thousands) Collectively evaluated (1) (2) $ 2,720,144 $ 29,257 $ 10,553 $ 91 $ 164,611 $ 1,307 Individually evaluated (3) 157,482 32,880 7,188 — 623 — Total $ 2,877,626 $ 62,137 $ 17,741 $ 91 $ 165,234 $ 1,307 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 (3) 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, and pursuant to amendments by ASU 2010-20 regarding allowance for unimpaired loans and leases. These loans and leases had a weighted average risk rating of 5.1 at June 30, 2016 and at December 31, 2015, based on the Company’s internally developed 12 point scale for the Leveraged Finance, Real Estate and Equipment Finance loans and leases. Business Credit Loans had a weighted average risk rating of 5.0 at December 31, 2015 based on the Company’s internally developed 10 point scale for Business Credit loans. (2) Excludes $167.2 million Leveraged Finance loans which the Company elected to record at fair value. (3) Represents loans individually evaluated for impairment in accordance with ASU 310-10, Receivables,
Summary of Company's Investment in Nonaccrual Loans	Below is a summary of the Company’s investment in nonaccrual loans. Recorded Investment in Nonaccrual Loans June 30, 2016 December ($ in thousands) Leveraged Finance $ 95,932 $ 103,563 Business Credit — — Real Estate (1) — 7,705 Equipment Finance — — Total $ 95,932 $ 111,268 (1) In addition to the amounts reflected above, a nonaccrual Real Estate loan of $3.2 million at June 30, 2016 is classified as held-for-sale.
Summary of Types of Concessions with Respect to TDRs	A summary of the types of concessions that the Company made with respect to TDRs at June 30, 2016 and December 31, 2015 is provided below: Group I Group II ($ in thousands) June 30, 2016 (1) $ 136,943 $ 107,199 December 31, 2015 $ 183,573 $ 162,986 (1) In additions to the amounts reflected above, a TDR Real Estate loan of $23.8 million is classified as held-for-sale. Note: A loan may be included in both restructuring groups, but not repeated within each group.
Summary of the Company's Loans Classified as TDR	Below is a summary of the Company’s loans which were newly classified as TDR and existing TDR loans which subsequently defaulted, in each case as of the dates presented As of the Three and Six Months Ended June 30, 2016 Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Investment in TDR Subsequently Defaulted ($ in thousands) Leveraged Finance $ 1,775 $ 1,308 $ — Real Estate (1) — — 4,483 Equipment Finance — — — Total $ 1,775 $ 1,308 $ 4,483 (1) Amount reflects charge-off on an impaired Real Estate TDR that was taken prior to transfer to held-for-sale. As of the Three and Six Months Ended June 30, 2015 Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Investment in TDR Subsequently Defaulted ($ in thousands) Leveraged Finance $ — $ — $ 7,942 Business Credit — — — Real Estate — — — Equipment Finance 921 921 — Total $ 921 $ 921 $ 7,942
Sets Forth a Breakdown of Troubled Debt Restructurings	The following sets forth a breakdown of troubled debt restructurings at June 30, 2016 and December 31, 2015: As of June 30, 2016 Accrual Status For the six months ($ in thousands) Loan Type Accruing Nonaccrual Impaired Balance Specific Allowance Charged-off Leveraged Finance $ 49,325 $ 79,807 $ 129,132 $ 26,565 $ 3,003 Real Estate (1) 7,188 — 7,188 — 4,483 Equipment Finance 623 — 623 — — Total $ 57,136 $ 79,807 $ 136,943 $ 26,565 $ 7,486 (1) In addition to the amounts reflected above, an impaired Real Estate loan of $23.8 million is classified as held-for-sale. As of December 31, 2015 Accrual Status For the year ($ 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) June 30, 2016 Leveraged Finance $ — $ 2,155 $ 2,155 $ 3,042,669 $ 3,044,824 $ — Real Estate — — — 17,741 17,741 — Equipment Finance — — — 165,234 165,234 — Total $ — $ 2,155 $ 2,155 $ 3,225,644 $ 3,227,799 $ — 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 June 30, 2016 Leveraged Finance Real Estate Equipment Finance Total ($ in thousands) Balance, beginning of period $ 61,528 $ 4,422 $ 1,342 $ 67,292 Provision for credit losses—general 1,198 44 (35 ) 1,207 Provision for credit losses—specific 2,308 108 — 2,416 Loans charged off, net of recoveries (2,389 ) (4,483 ) — (6,872 ) Balance, end of period $ 62,645 $ 91 $ 1,307 $ 64,043 Balance, end of period—specific $ 32,880 $ — $ — $ 32,880 Balance, end of period—general $ 29,765 $ 91 $ 1,307 $ 31,163 Average balance of impaired loans $ 177,654 $ 34,209 $ — $ 211,863 Average net book value of impaired leases $ — $ — $ 660 $ 660 Interest recognized from impaired loans and leases $ 3,083 $ 785 $ 12 $ 3,880 Loans and leases (1) Loans individually evaluated with specific allowance $ 117,501 $ — $ — $ 117,501 Loans individually evaluated with no specific allowance 39,981 7,188 623 47,792 Loans and leases collectively evaluated without specific allowance 2,720,144 10,553 164,611 2,895,308 Total loans and leases $ 2,877,626 $ 17,741 $ 165,234 $ 3,060,601 (1) Excludes $167.2 million of Leveraged Finance loans which the Company elected to record at fair value. Six Months Ended June 30, 2016 Leveraged Finance Business Credit Real Estate Equipment Finance Total ($ in thousands) Balance, beginning of period $ 54,788 $ 1,991 $ 656 $ 1,291 $ 58,726 Provision for credit losses—general 1,425 (172 ) 1,009 16 2,278 Provision for credit losses—specific 14,881 — 4,177 — 19,058 Reversal due to sale of Business Credit — (1,819 ) — — (1,819 ) Loans charged off, net of recoveries (8,449 ) — (5,751 ) — (14,200 ) Balance, end of period $ 62,645 $ — $ 91 $ 1,307 $ 64,043 Balance, end of period—specific $ 32,880 $ — $ — $ — $ 32,880 Balance, end of period—general $ 29,765 $ — $ 91 $ 1,307 $ 31,163 Average balance of impaired loans $ 177,181 $ — $ 34,540 $ — $ 211,721 Average net book value of impaired leases $ — $ — $ — $ 723 $ 723 Interest recognized from impaired loans and leases $ 4,979 $ — $ 832 $ 12 $ 5,823 Three Months Ended June 30, 2015 Leveraged Finance Business Credit Real Estate Equipment Finance Total ($ in thousands) Balance, beginning of period $ 48,194 $ 1,330 $ 352 $ 863 $ 50,739 Provision for credit losses—general 967 (233 ) 25 (34 ) 725 Provision for credit losses—specific 2,537 –– (54 ) — 2,483 Loans charged off, net of recoveries (4,000 ) –– — — (4,000 ) Balance, end of period $ 47,698 $ 1,097 $ 323 $ 829 $ 49,947 Balance, end of period—specific $ 22,174 $ — $ 15 $ — $ 22,189 Balance, end of period—general $ 25,524 $ 1,097 $ 308 $ 829 $ 27,758 Average balance of impaired loans $ 163,027 $ — $ 36,594 $ — $ 199,621 Average net book value of impaired leases $ 852 $ 852 Interest recognized from impaired loans $ 3,334 $ — $ 396 $ 15 $ 3,745 Loans and leases Loans individually evaluated with specific allowance $ 91,692 $ — $ 27,704 $ — $ 119,396 Loans individually evaluated with no specific allowance 67,253 — 8,018 921 76,192 Loans and leases collectively evaluated without specific allowance 2,133,595 239,187 58,287 139,049 2,570,118 Total loans and leases $ 2,292,540 $ 239,187 $ 94,009 $ 139,970 $ 2,765,706 Six Months Ended June 30, 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 4,701 (237 ) 51 207 4,722 Provision for credit losses—specific 5,449 — 15 — 5,464 Loans charged off, net of recoveries (3,932 ) — — — (3,932 ) Balance, end of period $ 47,698 $ 1,097 $ 323 $ 829 $ 49,947 Balance, end of period—specific $ 22,174 $ — $ 15 $ — $ 22,189 Balance, end of period—general $ 25,524 $ 1,097 $ 308 $ 829 $ 27,758 Average balance of impaired loans $ 163,476 $ — $ 37,138 $ — $ 200,614 Average net book value of impaired leases $ — $ — $ — $ 992 $ 992 Interest recognized from impaired loans $ 5,569 $ — $ 782 $ 33 $ 6,384

Restricted Cash (Tables)

Restricted Cash (Tables)	6 Months Ended
	Jun. 30, 2016
Cash And Cash Equivalents [Abstract]
Summary of Restricted Cash	Restricted cash as of June 30, 2016 and December 31, 2015 was as follows: June 30, 2016 December 31, 2015 ($ in thousands) Collections on loans pledged to credit facilities $ 118,889 $ 67,892 Principal and interest collections on loans held in trust and prefunding amounts 88,350 85,823 Customer escrow accounts 155 277 Total $ 207,394 $ 153,992

Investments in Debt Securitie29

Investments in Debt Securities, Available-for-Sale (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2016 and December 31, 2015 was as follows: June 30, 2016 December 31, 2015 ($ in thousands) Investments in debt securities—gross $ 111,020 $ 111,020 Unamortized discount (6,437 ) (6,765 ) Investments in debt securities—amortized cost $ 104,583 $ 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 June 30, 2016 and December 31, 2015 were as follows: Amortized cost Gross unrealized holding gains Gross unrealized holding losses Fair value ($ in thousands) June 30, 2016 Collateralized loan obligations $ 104,583 $ — $ (13,183 ) $ 91,400 $ 104,583 $ — $ (13,183 ) $ 91,400 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 June 30, 2016 and December 31, 2015: June 30, 2016 Less than 12 Months Greater than or Equal to 12 Months Total ($ in thousands) Number of positions 15 8 23 Fair value $ 58,597 $ 32,803 $ 91,400 Amortized cost 64,541 40,042 104,583 Unrealized loss $ (5,944 ) $ (7,239 ) $ (13,183 ) 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 June 30, 2016 and December 31, 2015: June 30, 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 34,164 28,610 34,017 30,470 Due after ten years through fifteen years 70,419 62,790 70,238 63,707 Total $ 104,583 $ 91,400 $ 104,255 $ 94,177

Borrowings (Tables)

Borrowings (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2016 Interest rate Legal final maturity ($ in thousands) 2007-1 CLO Trust Class A-1 $ 336,500 $ 6,039 Libor+0.24% September 30, 2022 Class A-2 100,000 1,900 Libor+0.26% September 30, 2022 Class B 24,000 24,000 Libor+0.55% September 30, 2022 Class C 58,500 58,293 Libor+1.30% September 30, 2022 Class D 27,000 21,000 Libor+2.30% September $ 546,000 $ 111,232
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 June 30, 2016 Interest rate Legal final maturity ($ in thousands) 2012-2 CLO Class A $ 190,700 $ 179,071 Libor+1.90% January Class B 26,000 26,000 Libor+3.25% January 20, 2023 Class C 35,200 35,200 Libor+4.25% January 20, 2023 Class D 11,400 11,400 Libor+6.25% January 20, 2023 Class E 16,300 16,300 Libor+6.75% January 20, 2023 $ 279,600 $ 267,971
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 June 30, 2016 Interest rate Legal final maturity ($ in thousands) 2013-1 CLO Class A-T $ 202,600 $ 202,600 Libor+1.65% September Class A-R 35,000 29,600 (1) September 20, 2023 Class B 38,000 38,000 Libor+2.30% September 20, 2023 Class C 36,000 36,000 Libor+3.80% September 20, 2023 Class D 21,000 21,000 Libor+4.55% September 20, 2023 Class E 6,000 6,000 Libor+5.30% September 20, 2023 $ 338,600 $ 333,200 (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.
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 June 30, 2016 Interest rate Legal final maturity ($ in thousands) 2014-1 CLO Class A $ 202,500 $ 202,500 Libor+1.80% April Class B-1 20,000 20,000 Libor+2.60% April 20, 2025 Class B-2 13,250 13,250 (1) April 20, 2025 Class C 30,250 30,250 Libor+3.60% April 20, 2025 Class D 23,500 23,500 Libor+4.75% April 20, 2025 $ 289,500 $ 289,500 (1) Class B-2 Notes accrue interest at a fixed rate of 4.902%.
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 June 30, 2016 Interest rate Legal final maturity ($ in thousands) 2015-1 CLO Class A-1 $ 253,500 $ 253,500 Libor+1.80% January 20, 2027 Class A-2 35,000 35,000 (1) January 20, 2027 Class B 50,000 50,000 Libor+2.80% January 20, 2027 Class C 38,500 38,500 Libor+3.85% January 20, 2027 Class D 33,250 33,250 Libor+5.50% January 20, 2027 $ 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.
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 June 30, 2016 Interest rate Legal final maturity ($ in thousands) 2015-1 ABS Class A $ 70,046 30,632 3.27% April 15, 2019 $ 70,046 $ 30,632
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 June 30, 2016 Interest rate Legal final maturity ($ in thousands) 2015-2 CLO Class A-1 $ 205,000 $ 205,000 Libor+2.00% August 25, 2027 Class A-2 23,000 23,000 (1) August 25, 2027 Class B 40,000 40,000 Libor+2.90% August 25, 2027 Class C 26,250 26,250 Libor+3.95% August 25, 2027 Class D 28,500 28,500 Libor+5.25% August 25, 2027 Class E 5,000 5,000 Libor+7.50% August 25, 2027 $ 327,750 $ 327,750 (1) Class A-2 Notes accrue interest at a fixed rate of 3.461%.
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 June 30, 2016 Interest rate Legal final maturity ($ in thousands) 2016-1 CLO Class A-1 $ 176,500 $ 176,500 Libor+2.30% February 25, 2028 Class A-2 20,000 20,000 (1) February 25, 2028 Class B 36,750 36,750 Libor+3.75% February 25, 2028 Class C 22,500 22,500 Libor+5.40% February 25, 2028 $ 255,750 $ 255,750 (1) Class A-2 Notes accrue interest at a fixed rate of 3.44%.

Repurchase Agreements (Tables)

Repurchase Agreements (Tables)	6 Months Ended
	Jun. 30, 2016
Banking And Thrift [Abstract]
Schedule of Repurchase Agreements	At June 30, 2016 At December 31, 2015 ($ in thousands) Outstanding at end of period $ 64,988 $ 96,789 Deferred financing fees and debt discount $ 363 $ 565 Repurchase agreements, net $ 64,625 $ 96,224 Weighted average rate at end of period 3.09 % 3.67 %

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Schedule of Authorized Capital	As of June 30, 2016 and December 31, 2015, the Company’s authorized capital consists of preferred and common stock and the following was authorized and outstanding: June 30, 2016 December 31, 2015 Shares authorized Shares outstanding Shares authorized Shares outstanding (In thousands) Preferred stock 5,000 — 5,000 — Common stock 145,000 46,664 145,000 46,527
Schedule of Restricted Stock Activity	Restricted stock activity for the six months ended June 30, 2016 was as follows: Shares Grant-date fair value ($ in thousands) Non-vested as of December 31, 2015 496,704 $ 5,629 Granted 597,923 3,835 Vested (241,471 ) (2,789 ) Forfeited (555 ) (9 ) Non-vested as of June 30, 2016 852,601 $ 6,666
Schedule of Stock Option Activity	Stock option activity for the six months ended June 30, 2016 was as follows: Options Outstanding as of December 31, 2015 2,513,532 Granted — Exercised (1,684,513 ) Forfeited (22,500 ) Outstanding as of June 30, 2016 806,519 Vested and exercisable as of June 30, 2016 806,519

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 2016 and 2015 are as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (In thousands) Numerator: Net income to common shareholders $ 5,241 $ 5,000 $ 9,250 $ 7,539 Net income allocated to participating securities - basic and diluted 94 58 151 80 Net income allocated to common shareholders - basic and diluted 5,147 4,942 9,099 7,459 Denominator: Denominator for basic earnings per common share 46,011 45,912 46,157 46,339 Denominator for diluted earnings per common share: Denominator for basic earnings per common share 46,011 45,912 46,157 46,339 Potentially dilutive securities - options — 2,624 — 2,625 Potentially dilutive securities – restricted stock — — — — Potentially dilutive securities - warrants — — — — Total weighted average diluted shares 46,011 48,536 46,157 48,964 Earnings per common share Basic $ 0.11 $ 0.11 $ 0.20 $ 0.16 Diluted $ 0.11 $ 0.10 $ 0.20 $ 0.15

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2016 and December 31, 2015: June 30, 2016 December 31, 2015 ($ in thousands) Unconsolidated VIE assets $ 417,709 $ 483,581 Unconsolidated VIE liabilities 361,497 362,383 Equity interest included on the Consolidated Balance Sheet 23,743 23,910 Maximum risk of loss (1) 24,160 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)	6 Months Ended
	Jun. 30, 2016
Commitments And Contingencies Disclosure [Abstract]
Financial Instruments with Off-Balance Sheet Risk	Financial instruments with off-balance sheet risk are summarized as follows: June 30, 2016 December 31, 2015 ($ in thousands) Unused lines of credit $ 283,802 $ 601,805 Standby letters of credit 6,339 8,696

Total Return Swap (Tables)

Total Return Swap (Tables)	6 Months Ended
	Jun. 30, 2016
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Schedule of Receivable and Realized Loss on Total Return Swap	The net receivable and realized loss on the total return swap on the consolidated balance sheet and consolidated statements of operations as of and for the six months ended June 30, 2016 consisted of the following : Net Receivable Net Realized Gains/(Losses) ($ in thousands) Interest income from TRS portfolio $ — $ 2,224 TRS interest expense — (848 ) Realized loss on TRS — (6,122 ) TRS receivable 1,197 — 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)	6 Months Ended
	Jun. 30, 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 June 30, 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 $ — $ — $ 91,400 $ 91,400 Loans — 167,198 — $ 167,198 Total assets recorded at fair value on a recurring basis $ — $ 167,198 $ 91,400 $ 258,598 Nonrecurring Basis: Loans, held-for-sale — 190,580 67,279 $ 257,859 Other real estate owned/repossessed assets — — 250 $ 250 Total assets recorded at fair value on a nonrecurring basis $ — $ 190,580 $ 67,529 $ 258,109 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 June 30, 2016. Fair Valuation Techniques Unobservable Input Range ($ in thousands) Financial assets: Investments in debt securities, available-for-sale $ 91,400 Third-party Pricing Loans, held-for-sale 67,279 Discounted cash flow 5% -10% Other real estate/repossessed assets 250 Appraisal Cost to sell 3%- 7% Total: $ 158,929 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 June 30, 2016: Investments Debt Securities, Available-for-sale ($ Balance as of March 31, 2016 $ 89,687 Total gains or losses (realized/unrealized) Included in earnings 137 Included in other comprehensive income (loss) 1,576 Purchases — Issuances — Settlements — Balance as of June 30, 2016 $ 91,400 For the three months ended June 30, 2015: Investments Debt Securities, Available-for-sale ($ Balance as of March 31, 2015 $ 79,891 Total gains or losses (realized/unrealized) Included in earnings 133 Included in other comprehensive income (loss) (1,013 ) Purchases 29,443 Issuances — Settlements — Balance as of June 30, 2015 $ 108,454 For the six months ended June 30, 2016: Investments Debt Securities, Available-for-sale ($ Balance as of December 31, 2015 $ 94,177 Total gains or losses (realized/unrealized) Included in earnings 313 Included in other comprehensive income (loss) (3,090 ) Purchases — Issuances — Settlements — Balance as of June 30, 2016 $ 91,400 For the six months ended June 30, 2015: Investments Debt Securities, Available-for-sale ($ Balance as of December 31, 2014 $ 46,881 Total gains or losses (realized/unrealized) Included in earnings 244 Included in other comprehensive income (loss) (828 ) Purchases 62,157 Issuances — Settlements — Balance as of June 30, 2015 $ 108,454
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 June 30, 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. June 30, 2016 December 31, 2015 Carrying amount Fair Carrying amount Fair ($ in thousands) Financial assets: Cash and cash equivalents $ 34,634 $ 34,634 $ 35,933 $ 35,933 Restricted cash 207,394 207,394 153,992 153,992 Cash collateral on deposit with custodian 7,564 7,564 61,081 61,081 Investments in debt securities available-for-sale 91,400 91,400 94,177 94,177 Loans held-for-sale, net 440,099 446,254 478,785 483,781 Loans and leases, net 3,113,061 3,094,589 3,134,072 3,147,117 Other assets 16,838 16,838 14,255 14,255 Financial liabilities: Credit facilities, net $ 565,799 $ 565,799 $ 832,686 $ 843,896 Term debt, net 2,009,184 2,004,339 1,821,519 1,819,344 Senior notes, net 373,006 359,100 372,153 368,600 Subordinated notes, net 237,696 280,041 209,509 266,857 Repurchase agreements, net 64,625 66,195 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 June 30, 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, cash collateral on deposit with custodian, investments in debt securities available-for-sale, and financial information disclosed above. Fair Value Measurements June 30, 2016 Carrying amount Fair Level 1 Level 2 Level 3 ($ in thousands) Financial assets: Loans and leases, net $ 3,113,061 $ 3,094,589 $ — $ — $ 3,094,589 Loans held-for-sale, net 440,099 446,254 — 294,436 151,818 Other assets 16,838 16,838 — — 16,838 Financial liabilities: Credit facilities, net 565,799 565,799 — 565,799 — Term debt securitizations, net 2,009,184 2,004,339 — 2,004,339 — Repurchase agreements, net 64,625 66,195 — 66,195 — Senior notes, net 373,006 359,100 — 359,100 — Subordinated notes, net 237,696 280,041 — — 280,041 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)	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Summary of Assets and Statement of Operations	The following tables presents the statement of operations and total assets for the Company’s reportable segments: Three Months Ended June 30, 2016 Commercial Lending Asset Management Consolidated Total Net interest income: $ 19,760 $ 1,146 $ 20,906 Provision for loan losses 3,623 — 3,623 Net interest income after provision 16,137 1,146 17,283 Noninterest income: Management fees — 3,096 3,096 Performance fees — 447 447 Other lending fees 1,665 32 1,697 Other noninterest income (1) (1,408 ) 527 (881 ) Total noninterest income: 257 4,102 4,359 Non-interest expense 10,359 2,481 12,840 Income before income taxes $ 6,035 $ 2,767 $ 8,802 Income tax expense 3,561 Net income $ 5,241 (1) Includes fair value adjustments on Loans held-for-sale and fair value portfolio. Six Months Ended June 30, 2016 Commercial Lending Asset Management Consolidated Total Net interest income: $ 41,617 $ 1,808 $ 43,425 Provision for loan losses 21,336 — 21,336 Net interest income after provision 20,281 1,808 22,089 Noninterest income: Management fees — 6,143 6,143 Performance fees — 841 841 Other lending fees 2,858 32 2,890 Other noninterest income (1) 13,222 415 13,637 Total noninterest income: 16,080 7,431 23,511 Non-interest expense 25,194 4,714 29,908 Income before income taxes $ 11,167 $ 4,525 $ 15,692 Income tax expense 6,442 Net income $ 9,250 (1) Includes fair value adjustments on Loans held-for-sale and fair value portfolio. Three months ended June 30, 2015 Commercial Lending Asset Management Consolidated Total ($ in thousands) Net interest income $ 15,672 $ 114 $ 15,786 Provision for loan losses 3,208 — 3,208 Net interest income after provision 12,464 114 12,578 Noninterest income: Management fees — 1,015 1,015 Performance fees — — — Other lending fees 4,754 — 4,754 Other noninterest income (1) 1,660 — 1,660 Total Noninterest income: 6,414 1,015 7,429 Non-interest expense 11,018 426 11,444 Income before income taxes $ 7,860 $ 703 $ 8,563 Income tax expense 3,563 Net income $ 5,000 (1) Includes fair value adjustment on Loans held-for-sale. Six months ended June 30, 2015 Commercial Lending Asset Management Consolidated Total ($ in thousands) Net interest income $ 33,500 $ (299 ) $ 33,201 Provision for loan losses 10,186 — 10,186 Net interest income after provision 23,314 (299 ) 23,015 Noninterest income: Management fees — 1,935 1,935 Performance fees — — — Other lending fees 5,912 — 5,912 Other noninterest income (1) 3,708 — 3,708 Total Noninterest income: 9,620 1,935 11,555 Non-interest expense 20,904 772 21,676 Income before income taxes $ 12,030 $ 864 $ 12,894 Income tax expense 5,355 Net income $ 7,539 (1) Includes fair value adjustment on Loans held-for-sale. June 30, 2016 Commercial Lending Asset Management Total ($ in thousands) Loans and leases, gross (including loans at fair value of $167,198) $ 3,060,601 $ 167,198 $ 3,227,799 Loans held-for-sale, gross 446,462 — 446,462 Investments in debt securities, available-for-sale — 91,400 91,400 Other 163,556 62,644 226,200 Total Balance Sheet Assets 3,670,619 321,242 3,991,861 Illiquid Credit funds * — 810,621 810,621 Liquid/Tradeable Credit * — 2,000,539 2,000,539 Total Assets 3,670,619 3,132,402 6,803,021 Less: Non Managed assets (1) 163,556 56,207 219,763 Total Managed Assets $ 3,507,063 $ 3,076,195 $ 6,583,258 (1) Other less unamortized discount on investment in debt securities, available-for-sale. *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. 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 — 94,177 94,177 Other 205,256 22,496 227,752 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: Non Managed assets (1) 205,256 15,731 220,987 Total Managed Assets $ 3,729,454 $ 3,220,012 $ 6,949,466 (1) Other less unamortized discount on investment in debt securities, available-for-sale. *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.

Variable Interest Entities - Un

Variable Interest Entities - Unconsolidated Variable Interest Entities (Details) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Unconsolidated VIE assets	$ 417,709,000	$ 483,581,000
Unconsolidated VIE liabilities	361,497,000	362,383,000
Equity interest included on the Consolidated Balance Sheet	23,743,000	23,910,000
Maximum risk of loss	$ 24,160,000	$ 24,327,000

Segment Reporting - Summary of

Segment Reporting - Summary of Total Assets and Statement of Operations (Detail) - USD ($) $ in Thousands		3 Months Ended				6 Months Ended				12 Months Ended
		Jun. 30, 2016		Jun. 30, 2015		Jun. 30, 2016		Jun. 30, 2015		Dec. 31, 2015
Segment Reporting Information [Line Items]
Loans and leases, gross		$ 3,227,799				$ 3,227,799				$ 3,243,580
Investments in debt securities, available-for-sale		91,400				91,400				94,177
Other assets		226,200				226,200				227,752
Total assets		3,991,861				3,991,861				4,051,383
Illiquid Credit funds	[1]	810,621				810,621				824,573
Liquid/Tradeable Credit	[1]	2,000,539				2,000,539				2,294,497
Total Assets		6,803,021				6,803,021				7,170,453
Non Managed assets	[2]	219,763				219,763				220,987
Total Managed Assets		6,583,258				6,583,258				6,949,466
Net interest income:		20,906		$ 15,786		43,425		$ 33,201
Provision for loan losses		3,623		3,208		21,336		10,186
Net interest income after provision for credit losses		17,283		12,578		22,089		23,015
Non-interest income (loss):
Management fees		3,096		1,015		6,143		1,935
Performance fees		447				841
Other lending fees		1,697		4,754		2,890		5,912
Other noninterest income		(881)	[3]	1,660	[4]	13,637	[3]	3,708	[4]
Total non-interest income		4,359		7,429		23,511		11,555
Non-interest expense		12,840		11,444		29,908		21,676
Income before income taxes		8,802		8,563		15,692		12,894
Income tax expense		3,561		3,563		6,442		5,355
Net income		5,241		5,000		9,250		7,539
Commercial Lending Segment [Member]
Segment Reporting Information [Line Items]
Loans and leases, gross		3,060,601				3,060,601				3,243,580
Other assets		163,556				163,556				205,256
Total assets		3,670,619				3,670,619				3,934,710
Total Assets		3,670,619				3,670,619				3,934,710
Non Managed assets	[2]	163,556				163,556				205,256
Total Managed Assets		3,507,063				3,507,063				3,729,454
Net interest income:		19,760		15,672		41,617		33,500
Provision for loan losses		3,623		3,208		21,336		10,186
Net interest income after provision for credit losses		16,137		12,464		20,281		23,314
Non-interest income (loss):
Other lending fees		1,665		4,754		2,858		5,912
Other noninterest income		(1,408)	[3]	1,660	[4]	13,222	[3]	3,708	[4]
Total non-interest income		257		6,414		16,080		9,620
Non-interest expense		10,359		11,018		25,194		20,904
Income before income taxes		6,035		7,860		11,167		12,030
Asset Management Segment
Segment Reporting Information [Line Items]
Loans and leases, gross		167,198				167,198
Investments in debt securities, available-for-sale		91,400				91,400				94,177
Other assets		62,644				62,644				22,496
Total assets		321,242				321,242				116,673
Illiquid Credit funds	[1]	810,621				810,621				824,573
Liquid/Tradeable Credit	[1]	2,000,539				2,000,539				2,294,497
Total Assets		3,132,402				3,132,402				3,235,743
Non Managed assets	[2]	56,207				56,207				15,731
Total Managed Assets		3,076,195				3,076,195				3,220,012
Net interest income:		1,146		114		1,808		(299)
Net interest income after provision for credit losses		1,146		114		1,808		(299)
Non-interest income (loss):
Management fees		3,096		1,015		6,143		1,935
Performance fees		447				841
Other lending fees		32				32
Other noninterest income	[3]	527				415
Total non-interest income		4,102		1,015		7,431		1,935
Non-interest expense		2,481		426		4,714		772
Income before income taxes		2,767		$ 703		4,525		$ 864
Finance Receivables Loans Held For Sale [Member]
Segment Reporting Information [Line Items]
Loans and leases, gross		446,462				446,462				485,874
Provision for loan losses						5,800				2,600
Finance Receivables Loans Held For Sale [Member] | Commercial Lending Segment [Member]
Segment Reporting Information [Line Items]
Loans and leases, gross		$ 446,462				$ 446,462				$ 485,874
[1]	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.
[2]
[3]	Includes fair value adjustments on Loans held-for-sale and fair value portfolio.
[4]	Includes fair value adjustment on Loans held-for-sale.

Organization - Commitments (Det

Organization - Commitments (Details)	6 Months Ended
	Jun. 30, 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)	6 Months Ended
	Jun. 30, 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 Accoun43

Summary of Significant Accounting Policies - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2016Segment
Accounting Policies [Abstract]
Number of reportable segments	2

Summary of Significant Accoun44

Summary of Significant Accounting Policies - ASU 2015-03 Impact on Condensed Consolidated Balance Sheet - (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Credit facilities, net	$ 565,799	$ 832,686
Term debt securitizations, net	2,009,184	1,821,519
Senior notes, net	373,006	372,153
Subordinated notes, net	237,696	209,509
Repurchase agreements	$ 64,625	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 A45

Acquisition and Disposition Activities - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2016	Jun. 30, 2016
Business Acquisition [Line Items]
Gain on sale of Business Credit, net	$ 22,500		$ 22,511
Transaction related cost	$ 2,500
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%

Loans Held-for-Sale, Loans, L46

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Loans Held-for-Sale (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases, gross	$ 3,227,799	$ 3,243,580
Deferred loan fees, net	(51,203)	(51,249)
Total loans held-for-sale, net	3,113,061	3,134,072
Leveraged Finance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases, gross	3,044,824	2,627,314
Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases, gross	17,741	100,732
Finance Receivables Loans Held For Sale [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases, gross	446,462	485,874
Deferred loan fees, net	(6,363)	(7,089)
Total loans held-for-sale, net	440,099	478,785
Finance Receivables Loans Held For Sale [Member] | Leveraged Finance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases, gross	422,702	$ 485,874
Finance Receivables Loans Held For Sale [Member] | Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases, gross	$ 23,760

Loans Held-for-Sale, Loans, L47

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Additional Information (Detail) $ in Thousands	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2016USD ($)risk_factor	Mar. 31, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)risk_factorLoans	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Impaired loans	$ 165,293			$ 165,293		$ 193,159
Provision expense to loans				1,100
Recorded Investment in Nonaccrual Loans	95,932			95,932		111,268
Loans sold, aggregate amount	129,400		$ 4,000	129,400	$ 4,000
Loss on sale of loans, net	162		(31)	55	(46)
Payments to Purchase Loans Held-for-sale		$ 138,900
Loan impairment	1,800			1,800
Loans and leases, net (including loans at fair value of $167,198 and $0, respectively)	3,113,061			3,113,061		3,134,072
Impaired loans restructured and classified as TDR	136,900			136,900		183,600
Aggregate carrying value of equity investments	11,000			11,000		11,400
Impaired loans, non-accrual status	9,200			14,300		38,200
Specific provisions for impaired loans during the year	2,400			19,100		9,500
Specific allowance for impaired loans	32,900			32,900
Impaired loans with specific allowance	117,500			117,500		121,100
Impaired loans related to delinquent loans greater than 60 days	2,200			$ 2,200		$ 18,600
Number of days past due to classified as delinquent				60 days		60 days
Impaired loans related to delinquent loans				$ 200		$ 2,800
Loans charged-off, net of recoveries	$ 6,872		4,000	$ 14,200	3,932
Aggregate outstanding balance of non-accrual loan returned to performing status						900
Specific allowance for impaired loans						26,800
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	7			7
Allowance for unfunded commitments	$ 63,535			$ 63,535		58,259
Allowance for credit losses	64,043	67,292	49,947	64,043	49,947	$ 58,726	$ 50,739	$ 43,693
Provision for credit losses	$ 3,623		3,208	$ 21,336	10,186
Financing receivable percentage of impaired and troubled debt restructuring to all loans	5.00%			5.00%		6.00%
Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans transferred | Loans				4
Commitments To Extend Credit [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for unfunded commitments	$ 500			$ 500		$ 500
Nonperforming Financing Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Range of commitment per borrower				8,400		10,900
Criticized [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Impaired loans						143,600
Loans and leases, net (including loans at fair value of $167,198 and $0, respectively)	142,400			142,400		152,100
Loans Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases, net (including loans at fair value of $167,198 and $0, respectively)	3,100,000			3,100,000		3,100,000
Other than NCOF [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loss on sale of loans, net				(90)	(100)
Credit Funds [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held-for-sale an aggregate outstanding balance	431,100			431,100
Payments to Purchase Loans Held-for-sale				89,500
Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Impaired loans	7,188			7,188		34,941
Provision expense to loans	100
Increase in specific reserves	4,500
Recorded Investment in Nonaccrual Loans						7,705
Loans charged-off, net of recoveries	4,483			5,751
Allowance for unfunded commitments	91			91		656
Allowance for credit losses	91	$ 4,422	$ 323	91	$ 323	656	$ 352	$ 257
Performing Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other performing loans purchased				47,600
Finance Receivables Loans Held For Sale [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases, net (including loans at fair value of $167,198 and $0, respectively)	440,099			440,099		478,785
Provision for credit losses				5,800		2,600
Finance Receivables Loans Held For Sale [Member] | Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Impaired loans	23,800			23,800
Recorded Investment in Nonaccrual Loans	3,200			3,200
Impaired loans restructured and classified as TDR	23,800			23,800		23,800
Non-accrual Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, recovered	6,900			12,900
Loans charged-off, net of recoveries						4,000
TDRs [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Impaired loans restructured and classified as TDR	136,943			136,943		183,573
Range of commitment per borrower				4,900
Specific allowance for impaired loans	26,565			26,565		24,958
TDRs [Member] | Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment in Nonaccrual Loans	3,200			3,200
Impaired loans restructured and classified as TDR	7,188			7,188		$ 34,941
TDRs [Member] | Non-accrual Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans charged-off, net of recoveries	$ 6,400			$ 7,500

Loans Held-for-Sale, Loans, L48

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Summary of Loans and Leases (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Financing Receivable, Impaired [Line Items]
Loans and leases, gross	$ 3,227,799	$ 3,243,580
Deferred loan fees, net	(51,203)	(51,249)
Allowance for loan and lease losses	(63,535)	(58,259)
Total loans held-for-sale, net	3,113,061	3,134,072
Leveraged Finance [Member]
Financing Receivable, Impaired [Line Items]
Loans and leases, gross	3,044,824	2,627,314
Allowance for loan and lease losses	(62,137)	(54,321)
Business Credit [Member]
Financing Receivable, Impaired [Line Items]
Loans and leases, gross		342,281
Allowance for loan and lease losses		(1,991)
Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Loans and leases, gross	17,741	100,732
Allowance for loan and lease losses	(91)	(656)
Equipment Finance [Member]
Financing Receivable, Impaired [Line Items]
Loans and leases, gross	165,234	173,253
Allowance for loan and lease losses	$ (1,307)	$ (1,291)

Loans Held-for-Sale, Loans, L49

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Summary of Loans and Leases (Parenthetical) (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Loans Held For Sale Loans And Allowance For Credit Losses [Abstract]
Loans at fair value	$ 167,198	$ 0

Loans Held-for-Sale, Loans, L50

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Summary of Impaired Loans (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Financing Receivable, Impaired [Line Items]
Investment, Net of Charge-offs	$ 165,293	$ 193,159
Investment, Net of Unamortized Discount/Premium	159,874	186,316
Unpaid Principal	197,454	227,511
Recorded Investment with a Related Allowance for Credit Losses	117,501	121,102
Recorded Investment, net, with a Related Allowance for Credit Losses	112,220	114,467
Recorded Investment without a Related Allowance for Credit Losses	47,792	72,057
Recorded Investment, net, without a Related Allowance for Credit Losses	47,654	71,849
Leveraged Finance [Member]
Financing Receivable, Impaired [Line Items]
Investment, Net of Charge-offs	157,482	157,446
Investment, Net of Unamortized Discount/Premium	152,105	150,692
Unpaid Principal	189,643	188,453
Recorded Investment with a Related Allowance for Credit Losses	117,501	113,397
Recorded Investment, net, with a Related Allowance for Credit Losses	112,220	106,762
Recorded Investment without a Related Allowance for Credit Losses	39,981	44,049
Recorded Investment, net, without a Related Allowance for Credit Losses	39,885	43,930
Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Investment, Net of Charge-offs	7,188	34,941
Investment, Net of Unamortized Discount/Premium	7,188	34,915
Unpaid Principal	7,188	38,286
Recorded Investment with a Related Allowance for Credit Losses		7,705
Recorded Investment, net, with a Related Allowance for Credit Losses		7,705
Recorded Investment without a Related Allowance for Credit Losses	7,188	27,236
Recorded Investment, net, without a Related Allowance for Credit Losses	7,188	27,210
Equipment Finance [Member]
Financing Receivable, Impaired [Line Items]
Investment, Net of Charge-offs	623	772
Investment, Net of Unamortized Discount/Premium	581	709
Unpaid Principal	623	772
Recorded Investment without a Related Allowance for Credit Losses	623	772
Recorded Investment, net, without a Related Allowance for Credit Losses	$ 581	$ 709

Loans Held-for-Sale, Loans, L51

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Summary of Impaired Loans (Parenthetical) (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Financing Receivable, Impaired [Line Items]
Impaired loans	$ 165,293	$ 193,159
Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Impaired loans	7,188	$ 34,941
Finance Receivables Loans Held For Sale [Member] | Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Impaired loans	$ 23,800

Loans Held-for-Sale, Loans, L52

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	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance, Total	$ 63,535	$ 58,259
Investment, Collectively evaluated	2,895,308		$ 2,570,118
Total investment evaluated	3,060,601		2,765,706
Leveraged Finance [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance, Collectively evaluated	29,257	27,874
Allowance, Individually evaluated	32,880	26,447
Allowance, Total	62,137	54,321
Investment, Collectively evaluated	2,720,144	2,469,868	2,133,595
Investment, Individually evaluated	157,482	157,446
Total investment evaluated	2,877,626	2,627,314	2,292,540
Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance, Collectively evaluated	91	350
Allowance, Individually evaluated		306
Allowance, Total	91	656
Investment, Collectively evaluated	10,553	65,791	58,287
Investment, Individually evaluated	7,188	34,941
Total investment evaluated	17,741	100,732	94,009
Equipment Finance [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance, Collectively evaluated	1,307	1,291
Allowance, Total	1,307	1,291
Investment, Collectively evaluated	164,611	172,481	139,049
Investment, Individually evaluated	623	772
Total investment evaluated	$ 165,234	173,253	139,970
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	239,187
Total investment evaluated		$ 342,281	$ 239,187

Loans Held-for-Sale, Loans, L53

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	6 Months Ended	12 Months Ended
	Jun. 30, 2016USD ($)	Dec. 31, 2015USD ($)
Financing Receivable, Allowance for Credit Losses [Line Items]
Fair value of loans acquired	$ 2,004,339	$ 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	$ 167,200
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, L54

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Summary of Company's Investment in Nonaccrual Loans (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Financing Receivable, Impaired [Line Items]
Recorded Investment in Nonaccrual Loans	$ 95,932	$ 111,268
Leveraged Finance [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment in Nonaccrual Loans	$ 95,932	103,563
Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment in Nonaccrual Loans		$ 7,705

Loans Held-for-Sale, Loans, L55

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Summary of Company's Investment in Nonaccrual Loans (Parenthetical) (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Financing Receivable, Impaired [Line Items]
Recorded Investment in Nonaccrual Loans	$ 95,932	$ 111,268
Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment in Nonaccrual Loans		$ 7,705
Real Estate [Member] | Finance Receivables Loans Held For Sale [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment in Nonaccrual Loans	$ 3,200

Loans Held-for-Sale, Loans, L56

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Summary of Types of Concessions with Respect to TDRs (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Impaired loans restructured and classified as TDR	$ 136,900	$ 183,600
Group I [Member]
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Impaired loans restructured and classified as TDR	136,943	183,573
Group II [Member]
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Impaired loans restructured and classified as TDR	$ 107,199	$ 162,986

Loans Held-for-Sale, Loans, L57

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Summary of Types of Concessions with Respect to TDRs (Parenthetical) (Detail) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Impaired loans restructured and classified as TDR	$ 136.9	$ 183.6
Real Estate [Member] | Finance Receivables Loans Held For Sale [Member]
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Impaired loans restructured and classified as TDR	$ 23.8	$ 23.8

Loans Held-for-Sale, Loans, L58

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Summary of the Company's Loans Classified as TDR (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Financing Receivable, Modifications [Line Items]
Post-Modification Outstanding Recorded Investment		$ 921	$ 1,308	$ 921
Investment in TDR Subsequently Defaulted		7,942	4,483	7,942
Pre-Modification Outstanding Recorded Investment		921	1,775	921
Leveraged Finance [Member]
Financing Receivable, Modifications [Line Items]
Post-Modification Outstanding Recorded Investment	$ 1,308		1,308
Investment in TDR Subsequently Defaulted		7,942		7,942
Pre-Modification Outstanding Recorded Investment	1,775		1,775
Real Estate [Member]
Financing Receivable, Modifications [Line Items]
Investment in TDR Subsequently Defaulted	4,483		$ 4,483
Equipment Finance [Member]
Financing Receivable, Modifications [Line Items]
Post-Modification Outstanding Recorded Investment		921
Pre-Modification Outstanding Recorded Investment		$ 921
Business Credit [Member]
Financing Receivable, Modifications [Line Items]
Post-Modification Outstanding Recorded Investment	1,308			921
Investment in TDR Subsequently Defaulted	4,483
Pre-Modification Outstanding Recorded Investment	$ 1,775			$ 921

Loans Held-for-Sale, Loans, L59

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Sets Forth a Breakdown of Troubled Debt Restructurings (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Impaired Balance	$ 136,900	$ 183,600
Specific Allowance	32,900
TDRs [Member]
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Accruing	57,136	81,891
Nonaccrual	79,807	101,682
Impaired Balance	136,943	183,573
Specific Allowance	26,565	24,958
Charged- off	7,486	4,000
TDRs [Member] | Leveraged Finance [Member]
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Accruing	49,325	53,883
Nonaccrual	79,807	93,977
Impaired Balance	129,132	147,860
Specific Allowance	26,565	24,958
Charged- off	3,003	4,000
TDRs [Member] | Real Estate [Member]
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Accruing	7,188	27,236
Nonaccrual		7,705
Impaired Balance	7,188	34,941
Charged- off	4,483
TDRs [Member] | Equipment Finance [Member]
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Accruing	623	772
Impaired Balance	$ 623	$ 772

Loans Held-for-Sale, Loans, L60

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Sets Forth a Breakdown of Troubled Debt Restructurings (Parenthetical) (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Impaired loans	$ 165,293	$ 193,159
Real Estate [Member]
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Impaired loans	7,188	$ 34,941
Real Estate [Member] | Finance Receivables Loans Held For Sale [Member]
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Impaired loans	$ 23,800

Loans Held-for-Sale, Loans, L61

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Age Analysis of Delinquent Receivables (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Financing Receivable Recorded Investment Past Due [Line Items]
60-89 Days Past Due	$ 2,155	$ 27,165
Current	3,225,644	3,216,415
Total Loans and Leases	3,227,799	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	2,155	27,165
Current	3,042,669	2,600,149
Total Loans and Leases	3,044,824	2,627,314
Investment in > 60 Days & Accruing		8,530
Real Estate [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Current	17,741	100,732
Total Loans and Leases	17,741	100,732
Equipment Finance [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Current	165,234	173,253
Total Loans and Leases	165,234	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	2,155	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	$ 2,155	$ 27,165

Loans Held-for-Sale, Loans, L62

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		6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance, beginning of period	$ 67,292	$ 50,739	$ 58,726	$ 43,693	$ 43,693
Provision for credit losses—general	1,207	725	2,278	4,722
Provision for credit losses—specific	2,416	2,483	19,058	5,464
Reversal due to sale of Business Credit			(1,819)
Loans charged off, net of recoveries	(6,872)	(4,000)	(14,200)	(3,932)
Balance, end of period	64,043	49,947	64,043	49,947	58,726
Balance, end of period—specific	32,880	22,189	32,880	22,189
Balance, end of period—general	31,163	27,758	31,163	27,758
Average balance of impaired loans and leases	211,863	199,621	211,721	200,614
Interest recognized from impaired loans and leases	3,880	3,745	5,823	6,384
Loans individually evaluated with specific allowance	117,501	119,396	117,501	119,396
Loans individually evaluated with no specific allowance	47,792	76,192	47,792	76,192
Loans and leases collectively evaluated without specific allowance	2,895,308	2,570,118	2,895,308	2,570,118
Total investment evaluated	3,060,601	2,765,706	3,060,601	2,765,706
Leases [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Average balance of impaired loans and leases	660	852	723	992
Leveraged Finance [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance, beginning of period	61,528	48,194	54,788	41,480	41,480
Provision for credit losses—general	1,198	967	1,425	4,701
Provision for credit losses—specific	2,308	2,537	14,881	5,449
Loans charged off, net of recoveries	(2,389)	(4,000)	(8,449)	(3,932)
Balance, end of period	62,645	47,698	62,645	47,698	54,788
Balance, end of period—specific	32,880	22,174	32,880	22,174
Balance, end of period—general	29,765	25,524	29,765	25,524
Average balance of impaired loans and leases	177,654	163,027	177,181	163,476
Interest recognized from impaired loans and leases	3,083	3,334	4,979	5,569
Loans individually evaluated with specific allowance	117,501	91,692	117,501	91,692
Loans individually evaluated with no specific allowance	39,981	67,253	39,981	67,253
Loans and leases collectively evaluated without specific allowance	2,720,144	2,133,595	2,720,144	2,133,595	2,469,868
Total investment evaluated	2,877,626	2,292,540	2,877,626	2,292,540	2,627,314
Business Credit [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance, beginning of period		1,330	1,991	1,334	1,334
Provision for credit losses—general		(233)	(172)	(237)
Reversal due to sale of Business Credit			(1,819)
Balance, end of period		1,097		1,097	1,991
Balance, end of period—general		1,097		1,097
Loans and leases collectively evaluated without specific allowance		239,187		239,187	342,281
Total investment evaluated		239,187		239,187	342,281
Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance, beginning of period	4,422	352	656	257	257
Provision for credit losses—general	44	25	1,009	51
Provision for credit losses—specific	108	(54)	4,177	15
Loans charged off, net of recoveries	(4,483)		(5,751)
Balance, end of period	91	323	91	323	656
Balance, end of period—specific		15		15
Balance, end of period—general	91	308	91	308
Average balance of impaired loans and leases	34,209	36,594	34,540	37,138
Interest recognized from impaired loans and leases	785	396	832	782
Loans individually evaluated with specific allowance		27,704		27,704
Loans individually evaluated with no specific allowance	7,188	8,018	7,188	8,018
Loans and leases collectively evaluated without specific allowance	10,553	58,287	10,553	58,287	65,791
Total investment evaluated	17,741	94,009	17,741	94,009	100,732
Equipment Finance [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance, beginning of period	1,342	863	1,291	622	622
Provision for credit losses—general	(35)	(34)	16	207
Balance, end of period	1,307	829	1,307	829	1,291
Balance, end of period—general	1,307	829	1,307	829
Interest recognized from impaired loans and leases	12	15	12	33
Loans individually evaluated with no specific allowance	623	921	623	921
Loans and leases collectively evaluated without specific allowance	164,611	139,049	164,611	139,049	172,481
Total investment evaluated	165,234	139,970	165,234	139,970	$ 173,253
Equipment Finance [Member] | Leases [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Average balance of impaired loans and leases	$ 660	$ 852	$ 723	$ 992

Loans Held-for-Sale, Loans, L63

Loans Held-for-Sale, Loans, Leases and Allowance for Credit Losses - Summary Activity in the Allowance for Credit Losses (Parenthetical) (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Financing Receivable, Allowance for Credit Losses [Line Items]
Fair value of loans acquired	$ 2,004,339	$ 1,819,344
Leveraged Finance [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Fair value of loans acquired	$ 167,200

Restricted Cash - Summary of Re

Restricted Cash - Summary of Restricted Cash (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Restricted Cash And Investments [Abstract]
Collections on loans pledged to credit facilities	$ 118,889	$ 67,892
Principal and interest collections on loans held in trust and prefunding amounts	88,350	85,823
Customer escrow accounts	155	277
Total	$ 207,394	$ 153,992

Restricted Cash - Additional In

Restricted Cash - Additional Information (Detail) $ in Millions	Jun. 30, 2016USD ($)
Restricted Cash And Investments [Abstract]
Restricted cash to fund new or existing loans	$ 54.1

Investments in Debt Securitie66

Investments in Debt Securities, Available-for-Sale - Summary of Amortized Cost of Investments in Debt Securities (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Investments Debt And Equity Securities [Abstract]
Investments in debt securities—gross	$ 111,020	$ 111,020
Unamortized discount	(6,437)	(6,765)
Investments in debt securities—amortized cost	$ 104,583	$ 104,255

Investments in Debt Securitie67

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	Jun. 30, 2016	Dec. 31, 2015
Guarantee Obligations [Line Items]
Investments in debt securities—amortized cost	$ 104,583	$ 104,255
Gross unrealized holding losses	(13,183)	(10,078)
Fair value	91,400	94,177
Collateralized Loan Obligations [Member]
Guarantee Obligations [Line Items]
Investments in debt securities—amortized cost	104,583	104,255
Gross unrealized holding losses	(13,183)	(10,078)
Fair value	$ 91,400	$ 94,177

Investments in Debt Securitie68

Investments in Debt Securities, Available-for-Sale - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Investments Debt And Equity Securities [Abstract]
Purchased debt securities	$ 0	$ 62,157,000
Sale of debt securities		$ 0
Other than temporary impairment charges	$ 0

Investments in Debt Securitie69

Investments in Debt Securities, Available-for-Sale - Summary of Unrealized Loss on Investments (Detail) $ in Thousands	Jun. 30, 2016USD ($)Positions	Dec. 31, 2015USD ($)Positions
Investments Debt And Equity Securities [Abstract]
Number of positions, Less than 12 Months | Positions	15	20
Fair value, Less than 12 Months	$ 58,597	$ 86,245
Amortized cost, Less than 12 Months	64,541	95,624
Unrealized loss, Less than 12 Months	$ (5,944)	$ (9,379)
Number of positions, Greater than or Equal to 12 Months | Positions	8	3
Fair value, Greater than or Equal to 12 Months	$ 32,803	$ 7,932
Amortized cost, Greater than or Equal to 12 Months	40,042	8,631
Unrealized loss, Greater than or Equal to 12 Months	$ (7,239)	$ (699)
Number of positions | Positions	23	23
Fair value	$ 91,400	$ 94,177
Amortized cost	104,583	104,255
Unrealized loss	$ (13,183)	$ (10,078)

Investments in Debt Securitie70

Investments in Debt Securities, Available-for-Sale - Summary of Maturities of Debt Securities (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Investments Debt And Equity Securities [Abstract]
Amortized cost, Available-for-sale, Due after five years through ten years	$ 34,164	$ 34,017
Amortized cost, Available-for-sale, Due after ten years through fifteen years	70,419	70,238
Investments in debt securities—amortized cost	104,583	104,255
Fair value, Available-for-sale, Due after five years through ten years	28,610	30,470
Fair value, Available-for-sale, Due after ten years through fifteen years	62,790	63,707
Fair value	$ 91,400	$ 94,177

Borrowings - Credit Facilities

Borrowings - Credit Facilities - Additional Information (Detail)	3 Months Ended	6 Months Ended
	Mar. 31, 2016USD ($)	Jun. 30, 2016USD ($)CreditFacility	Jun. 30, 2015USD ($)	Feb. 29, 2016USD ($)	Dec. 31, 2015USD ($)
Line of Credit Facility [Line Items]
Number of credit facility | CreditFacility		4
Outstanding balance of credit facility		$ 565,799,000			$ 832,686,000
Repayment of borrowings on credit facilities		1,379,952,000	$ 1,051,114,000
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		615,000,000		$ 475,000,000
Outstanding balance of credit facility		261,600,000
Unamortized deferred financing fees		$ 7,200,000
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		$ 500,000
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 [Member] | Revolving Credit Facility, Purchase of Broadly Syndicated Bank Loans [Member]
Line of Credit Facility [Line Items]
Current borrowing capacity of credit facility		$ 350,000,000
Outstanding balance of credit facility		$ 110,000,000
Maturity date of facility		Mar. 28, 2017
Last day to draw		Dec. 24, 2016
Credit Suisse [Member] | Revolving Credit Facility, Purchase of Broadly Syndicated Bank Loans [Member] | Junior Subordinated Debt [Member]
Line of Credit Facility [Line Items]
Debt instrument face amount	25,000,000	$ 39,000,000
Percentage of aggregate draws advanced		50.00%
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		187,900,000
Unamortized deferred financing fees		$ 2,800,000
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	Jun. 30, 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. 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%
Unamortized deferred financing fees				$ 6,300,000
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	Jun. 30, 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			$ 57,100,000
Unamortized discount				$ 60,000,000
Unamortized deferred financing fees			$ 5,200,000
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

Jun. 30, 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

$ 2,009,184,000

$ 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

111,232,000

Principal collection and payments receivable of secured debt

$ 165,400,000

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

267,971,000

Principal collection and payments receivable of secured debt

$ 314,300,000

Collateral principal repayments maturity period

3 years

Deferred financing costs, net

$ 1,100,000

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

333,200,000

Principal collection and payments receivable of secured debt

$ 394,600,000

Collateral principal repayments maturity period

3 years

Deferred financing costs, net

$ 3,100,000

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

$ 2,200,000

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

$ 410,250,000

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

$ 3,600,000

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

30,632,000

Deferred financing costs, net

1,100,000

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

71,200,000

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

$ 3,300,000

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

$ 2,600,000

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

Jun. 30, 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

$ 2,009,184,000

$ 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

111,232,000

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

$ 6,039,000

Interest rate

Libor+0.24%

Legal final maturity

Sep. 30, 2022

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

$ 1,900,000

Interest rate

Libor+0.26%

Legal final maturity

Sep. 30, 2022

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

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

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

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

267,971,000

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

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

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

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

$ 179,071,000

Interest rate

Libor+1.90%

Legal final maturity

Jan. 20, 2023

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

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

333,200,000

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

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

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

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

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

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

$ 29,600,000

Legal final maturity

Sep. 20, 2023

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

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

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

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

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

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

$ 410,250,000

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

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

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

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

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

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

30,632,000

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

$ 30,632,000

Basis Spread on Variable Rate

3.27%

Legal final maturity

Apr. 15, 2019

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

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

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

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

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

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

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

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

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

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

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%

Repurchase Agreements - Schedul

Repurchase Agreements - Schedule of Repurchase Agreements (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase agreements, net	$ 64,625	$ 96,224
Loans [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Outstanding at end of period	64,988	96,789
Deferred financing fees and debt discount	363	565
Repurchase agreements, net	$ 64,625	$ 96,224
Weighted average rate at end of period (percent)	3.09%	3.67%

Repurchase Agreements - Additio

Repurchase Agreements - Additional Information (Detail) - USD ($)	Oct. 02, 2013	Jun. 07, 2011	Jun. 30, 2016	Dec. 31, 2015
Loans [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Weighted average rate at end of period (percent)			3.09%	3.67%
Repurchase agreements, outstanding at end of period			$ 64,988,000	$ 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			$ 400,000
Repurchase agreements, outstanding at end of period			10,700,000
Deutsche Bank AG [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase agreements, outstanding at end of period			0
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			37,800,000
Natixis Securities Americas LLC [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase agreements, outstanding at end of period			$ 1,700,000

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Authorized Capital (Detail) - shares	Jun. 30, 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	46,663,802	46,527,288

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail)	Jun. 30, 2016USD ($)$ / sharesshares	Feb. 10, 2016USD ($)	Mar. 24, 2015USD ($)shares	Jun. 30, 2016USD ($)$ / sharesshares	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)Installment$ / sharesshares	Jun. 30, 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		5,000,000			5,000,000
Preferred stock, par value (in dollars per share) | $ / shares	$ 0.01			$ 0.01		$ 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		1,000,000			1,222,648
Repurchase of stock, value	$ 7,000,000		$ 10,300,000			$ 8,668,000	$ 14,785,000
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				$ 900,000	$ 900,000	$ 1,900,000	$ 1,600,000
Unrecognized compensation cost	$ 4,200,000			$ 4,200,000		$ 4,200,000
Weighted average recognition period for unrecognized compensation cost				3 years
Restricted Stock | 2006 Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued to employees | shares						74,020
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						$ 7.16
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 - Schedu80

Stockholders' Equity - Schedule of Restricted Stock Activity (Detail) - Restricted Stock $ in Thousands	6 Months Ended
	Jun. 30, 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	597,923
Shares, Vested | shares	(241,471)
Shares, Forfeited | shares	(555)
Shares, Non-vested, Ending balance | shares	852,601
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 | $	3,835
Weighted average grant-date fair value, Vested | $	(2,789)
Weighted average grant-date fair value, Forfeited | $	(9)
Weighted average grant-date fair value, Non-vested, Ending balance | $	$ 6,666

Stockholders' Equity - Schedu81

Stockholders' Equity - Schedule of Stock Option Activity (Detail)	6 Months Ended
	Jun. 30, 2016shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options Outstanding, Beginning balance	2,513,532
Options Granted	0
Options Exercised	(1,684,513)
Options Forfeited	(22,500)
Options Outstanding, Ending Balance	806,519
Options Vested and exercisable as of June 30, 2016	806,519

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		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Dilutive and Antidilutive Securities Associated with Computation of Earnings Per Share [Line Items]
Net income	$ 5,241	$ 5,000	$ 9,250	$ 7,539
Net income allocated to participating securities - basic and diluted	94	58	151	80
Net income allocated to common shareholders - basic and diluted	$ 5,147	$ 4,942	$ 9,099	$ 7,459
Denominator for basic earnings per common share	46,011	45,912	46,157	46,339
Total weighted average diluted shares	46,011	48,536	46,157	48,964
Basic	$ 0.11	$ 0.11	$ 0.20	$ 0.16
Diluted	$ 0.11	$ 0.10	$ 0.20	$ 0.15
Options [Member]
Dilutive and Antidilutive Securities Associated with Computation of Earnings Per Share [Line Items]
Potentially dilutive securities-options (in shares)		2,624		2,625

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 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	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	806,519		806,519

Variable Interest Entities - Ad

Variable Interest Entities - Additional Information (Detail) $ in Millions	1 Months Ended	6 Months Ended
	Jan. 31, 2015USD ($)	Jun. 30, 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 Of85

Financial Instruments with Off-Balance Sheet Risk - Financial Instruments with Off-Balance Sheet Risk (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Unused Lines of Credit [Member]
Concentration Risk [Line Items]
Financial instruments with off-balance sheet risk	$ 283,802	$ 601,805
Standby Letters of Credit [Member]
Concentration Risk [Line Items]
Financial instruments with off-balance sheet risk	$ 6,339	$ 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	Jun. 30, 2016	Dec. 31, 2015
Derivative [Line Items]
Cash collateral on deposit with custodian					$ 7,564,000	$ 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					$ 0	$ 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	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Derivative [Line Items]
TRS receivable	$ 15,059	$ 13,932
Total Return Swap [Member]
Derivative [Line Items]
Realized loss on TRS		(5,816)
TRS receivable	1,197	1,377
Interest income from TRS portfolio	2,224	8,667
TRS interest expense	(848)	(2,652)
Realized loss on TRS	$ (6,122)	$ (4,822)

Fair Value - Additional Informa

Fair Value - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain from change in fair value			$ 300,000
Interest receivable	$ 15,059,000		15,059,000		$ 13,932,000
Provision for credit losses	3,623,000	$ 3,208,000	21,336,000	$ 10,186,000
Non-public investments carrying value within other assets	16,800,000		16,800,000		14,300,000
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			4,200,000		300,000
Finance Receivables Loans Held For Sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Provision for credit losses			5,800,000		2,600,000
Total Return Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
TRS					(4,400,000)
Interest receivable	$ 1,197,000		$ 1,197,000		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

Fair Value - Assets and Liabili

Fair Value - Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in debt securities, available-for-sale	$ 91,400	$ 94,177
Loans	3,094,589	3,147,117
Loans, held-for-sale	446,254	483,781
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans, held-for-sale	294,436	483,781
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans	3,094,589	3,147,117
Loans, held-for-sale	151,818
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	91,400	94,177
Loans	167,198
Total assets recorded at fair value on a recurring basis	258,598	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	167,198
Total assets recorded at fair value on a recurring basis	167,198
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	91,400	94,177
Total assets recorded at fair value on a recurring basis	91,400	94,177
Nonrecurring Basis [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans, held-for-sale	257,859	140,151
Other real estate owned/repossessed assets	250	250
Total assets recorded at fair value on a nonrecurring basis	258,109	167,874
Collateral dependent impaired loans		27,473
Nonrecurring Basis [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans, held-for-sale	190,580	140,151
Total assets recorded at fair value on a nonrecurring basis	190,580	140,151
Nonrecurring Basis [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans, held-for-sale	67,279
Other real estate owned/repossessed assets	250	250
Total assets recorded at fair value on a nonrecurring basis	$ 67,529	27,723
Collateral dependent impaired loans		$ 27,473

Fair Value - Summary of Signifi

Fair Value - Summary of Significant Unobservable Inputs and Valuation Techniques (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015	Mar. 31, 2016	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value	$ 158,929	$ 121,900
Loans Receivable [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value	67,279	27,473
Other Real Estate Owned/Repossessed Assets [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value	$ 250	$ 250
Minimum [Member] | Loans Receivable [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value discount rate range - discounted cash flow (percent)	5.00%
Fair value discount rate range - cost to sell (percent)		3.00%
Fair value discount rate range - marketability discount (as a percent)		5.00%
Minimum [Member] | Other Real Estate Owned/Repossessed Assets [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%
Maximum [Member] | Loans Receivable [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value discount rate range - discounted cash flow (percent)	10.00%
Fair value discount rate range - cost to sell (percent)		7.00%
Fair value discount rate range - marketability discount (as a percent)		30.00%
Maximum [Member] | Other Real Estate Owned/Repossessed Assets [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%
Investments in Debt Securities, Available-for-Sale [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value	$ 91,400	$ 94,177	$ 89,687	$ 108,454	$ 79,891	$ 46,881

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		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance			$ 121,900
Ending Balance	$ 158,929		158,929
Investments in Debt Securities, Available-for-Sale [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance	89,687	$ 79,891	94,177	$ 46,881
Included in earnings	137	133	313	244
Included in other comprehensive income (loss)	1,576	(1,013)	(3,090)	(828)
Purchases		29,443		62,157
Issuances
Settlements
Ending Balance	$ 91,400	$ 108,454	$ 91,400	$ 108,454

Fair Value - Carrying Amounts a

Fair Value - Carrying Amounts and Estimated Fair Values of Company's Financial Instruments (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 34,634	$ 35,933	$ 25,308	$ 33,033
Restricted cash	207,394	153,992
Cash collateral on deposit with custodian	7,564	61,081
Investments in debt securities, available-for-sale	91,400	94,177
Loans held-for-sale, net	440,099	478,785
Loans and leases, net	3,113,061	3,134,072
Other assets, Carrying amount	16,838	14,255
Credit facilities, net	565,799	832,686
Term debt securitizations, net	2,009,184	1,821,519
Senior notes, net	373,006	372,153
Subordinated notes, net	237,696	209,509
Repurchase agreements, net	64,625	96,224
Other liabilities, Carrying amount		4,439
Loans, held-for-sale, net	446,254	483,781
Loans and leases, net, Fair value	3,094,589	3,147,117
Other assets, Fair value	16,838	14,255
Credit facilities, net, Fair value	565,799	843,896
Fair value of loans acquired	2,004,339	1,819,344
Senior notes, net, Fair value	359,100	368,600
Subordinated notes, net, Fair value	280,041	266,857
Repurchase agreements, net, Fair value	66,195	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	34,634	35,933
Restricted cash	207,394	153,992
Cash collateral on deposit with custodian	7,564	61,081
Investments in debt securities, available-for-sale	91,400	94,177
Loans held-for-sale, net	440,099	478,785
Loans and leases, net	3,113,061	3,134,072
Other assets, Carrying amount	16,838	14,255
Credit facilities, net	565,799	832,686
Term debt securitizations, net	2,009,184	1,821,519
Senior notes, net	373,006	372,153
Subordinated notes, net	237,696	209,509
Repurchase agreements, net	64,625	96,224
Other liabilities, Carrying amount		4,439
Cash and cash equivalents, Fair value	34,634	35,933
Restricted cash, Fair value	207,394	153,992
Cash collateral on deposit with custodian, Fair value	7,564	61,081
Loans, held-for-sale, net	446,254	483,781
Loans and leases, net, Fair value	3,094,589	3,147,117
Other assets, Fair value	16,838	14,255
Credit facilities, net, Fair value	565,799	843,896
Fair value of loans acquired	2,004,339	1,819,344
Senior notes, net, Fair value	359,100	368,600
Subordinated notes, net, Fair value	280,041	266,857
Repurchase agreements, net, Fair value	$ 66,195	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	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans and leases, net	$ 3,113,061	$ 3,134,072
Loans held-for-sale, net	440,099	478,785
Other assets, Carrying amount	16,838	14,255
Credit facilities, net	565,799	832,686
Outstanding balance on drawn notes	2,009,184	1,821,519
Repurchase agreements	64,625	96,224
Senior notes, net	373,006	372,153
Subordinated notes, net	237,696	209,509
Loans and leases, net, Fair value	3,094,589	3,147,117
Loans, held-for-sale, net	446,254	483,781
Other assets, Fair value	16,838	14,255
Credit facilities, Fair value	565,799	843,896
Fair value of loans acquired	2,004,339	1,819,344
Repurchase agreements, Fair value	66,195	101,433
Senior notes, Fair value	359,100	368,600
Subordinated notes, Fair value	280,041	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, held-for-sale, net	294,436	483,781
Credit facilities, Fair value	565,799	843,896
Fair value of loans acquired	2,004,339	1,819,344
Repurchase agreements, Fair value	66,195	101,433
Senior notes, Fair value	359,100	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	3,094,589	3,147,117
Loans, held-for-sale, net	151,818
Other assets, Fair value	16,838	14,255
Subordinated notes, Fair value	280,041	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	$ 3,113,061	$ 3,134,072

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2016USD ($)Segment
Segment Reporting Information [Line Items]
Number of reportable segments | Segment	2
Minimum [Member] | Commercial Lending Segment [Member]
Segment Reporting Information [Line Items]
Annual cash flow (EBITDA) of companies financed through specialized lending groups	$ 10,000,000
Maximum [Member] | Commercial Lending Segment [Member]
Segment Reporting Information [Line Items]
Annual cash flow (EBITDA) of companies financed through specialized lending groups	$ 50,000,000

Segment Reporting - Summary o95

Segment Reporting - Summary of Total Assets and Statement of Operations (Parenthetical) (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Segment Reporting [Abstract]
Loans at fair value	$ 167,198	$ 0

Related-Party Transactions - Ad

Related-Party Transactions - Additional Information (Detail) - USD ($)	Jan. 15, 2015	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Related Party Transaction [Line Items]
Asset management income		$ 3,543,000	$ 1,015,000	$ 6,984,000	$ 1,935,000
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		500,000	500,000	1,000,000	900,000
Arlington Program [Member] | Collateral Management Agreement [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party		500,000	500,000	1,000,000	1,000,000
NewStar Credit Opportunities Fund, Ltd. [Member] | Investment Management Agreement [Member]
Related Party Transaction [Line Items]
Asset management income		$ 0	$ 30,000	$ 40,000	$ 60,000