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.
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Primrose Riordan covers private companies and family offices from the AFR's Sydney newsroom. Primrose was previously a correspondent for the Financial Times and covered foreign affairs and politics in Canberra. Primrose has won multiple awards for her journalism including from The National Press Club, SABEW in the US and Press Gazette in the UK. Message Primrose on Signal: https://tinyurl.com/PrimroseSignal Connect with Primrose on Facebook and Twitter. Email Primrose at primrose.riordan@afr.com
