Sumitomo Mitsui Banking is joining forces with asset managers at Monroe Capital and MA Financial Group to work together on $1.7 billion of lending deals in the fast-growing private credit market.
The tie-up between the Japanese banking conglomerate and its new partners will target U.S. middle-market companies, according to executives. They’ll be offering first-lien senior-secured loans starting this month, with the potential to increase the total based on demand.
"All three of us are very focused on making this a scalable, long-term partnership,” with "a shared credit and investing mindset,” Thomas Bergen, head of private credit at SMBC Americas, said in an interview.
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