Exhibit 21

Subsidiaries of the Company



|                                                                       |  |                                            
|---------------------------------------------------------------------- |  | -------------------------------------------
|Name                                                                   |  | State or other jurisdiction ofincorporation
|                                                                       | 
|Hereford Funding, LLC                                                  |  | Delaware                                   
|                                                                       | 
|NewStar ArcTurus CLO I Ltd.                                            |  | Cayman Islands                             
|                                                                       | 
|NewStar Asset Management LLC                                           |  | Delaware                                   
|                                                                       | 
|NewStar Citi Funding, LLC                                              |  | Delaware                                   
|                                                                       | 
|NewStar Commercial Loan Trust 2006-1                                   |  | Delaware                                   
|                                                                       | 
|NewStar Commercial Loan Trust 2007-1                                   |  | Delaware                                   
|                                                                       | 
|NewStar Concentration LLC                                              |  | Delaware                                   
|                                                                       | 
|NewStar CP Funding, Inc.                                               |  | Delaware                                   
|                                                                       | 
|NewStar CP Funding, LLC                                                |  | Delaware                                   
|                                                                       | 
|NewStar DB Term Funding LLC                                            |  | Delaware                                   
|                                                                       | 
|NewStar Financial California, LLC                                      |  | Delaware                                   
|                                                                       | 
|NewStar Securities Corporation, Inc (f/k/a NewStar Repo Funding, Inc.) |  | Massachusetts                              
|                                                                       | 
|NewStar Short-Term Funding, LLC                                        |  | Delaware                                   
|                                                                       | 
|NewStar Structured Finance Opportunities, LLC                          |  | Delaware                                   
|                                                                       | 
|NewStar Trust 2005-1                                                   |  | Delaware                                   
|                                                                       | 
|NewStar Warehouse Funding 2005, LLC                                    |  | Delaware