SMBC Teams With Private Lenders to Offer $1.7 Billion of Credit

Sumitomo Mitsui Banking Corp. 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 US 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.