MA Financial has partnered with Japanese banking giant Sumitomo Mitsui and US lender Monroe Capital to invest $US1.7 billion ($2.63 billion) in US mid-market corporate borrowers, saying lenders are looking to diversify their books.
MA’s head of credit Frank Danieli said smaller lenders that had rushed into private lending recently and were focused on a single-asset class, however, would struggle to survive without diversification, amid speculation over consolidation among non-bank lenders.
Loading…