Eldridge Industries and Raymond James have joined forces to launch a brand new non-public credit score enterprise.
The brand new enterprise will probably be known as Raymond James Non-public Credit score, and it’ll provide non-public credit score options to portfolio firms of personal fairness companies.
It would give attention to 4 key sectors: client; diversified industrials; healthcare; and expertise and companies.
Learn extra: Eldridge Industries in talks to purchase Hayfin
The brand new agency will probably be headed by Omer Masud. Masud was head of origination and capital markets at Onex Falcon, and previous to that he was a managing director in Macquarie’s Monetary Sponsors group.
Earlier this week, Eldridge Industries was reported to be in superior talks to amass non-public lender Hayfin.
The $80bn (£63.68bn) funding home is believed to be eager to broaden into the booming non-public credit score area via a collection of acquisitions and partnerships.
Learn extra: Raymond James bolsters non-public capital enterprise with 4 bankers
Raymond James has been a publicly-traded agency since 1983, with shareholder fairness in extra of $10.9bn. It is without doubt one of the largest center market M&A platforms within the US, masking greater than 1,100 non-public fairness companies.
The non-public credit score sector is estimated to be price $1.7tn at current, however a current report from PitchBook discovered that non-public debt belongings beneath administration might soar as excessive as $2.7tn by 2028. Direct lending is anticipated to stay the most important phase of the market.
Learn extra: Arrow World acquires Spanish credit score supervisor Amitra Capital
