Fifth Third, Eldridge to Partner Up on Private Credit Deals

Eldridge, an asset management and insurance company owned by Todd Boehly’s Eldridge Industries, is partnering with Fifth Third Bancorp to expand both their private credit offerings.

The Cincinnati, Ohio-based regional bank will funnel lending opportunities to Eldridge that are typically outside of its risk spectrum to Eldridge. Boehly’s firm will underwrite the loans if it accepts a deal, while Fifth Third will earn fees for origination and could potentially provide revolving credit lines, treasury management and payments services alongside the financing, according to executives from both firms.