BMO Financial Group has entered a partnership with alternative asset manager Canal Road Group in a deal that will enable the latter to invest up to $1 billion in direct lending, as the Canadian bank seeks to grow its presence in the booming private credit market.
Chunzi Xu, Bloomberg NewsBrent Joyce, chief investment strategist of BMO Private Investment Counsel and BMO Private Wealth, breaks down what investors can learn from BMO's 2025 portfoli
The deal is the latest in a string of alliances between banks and private credit managers as they navigate tighter regulations and finite pools of capital. Citigroup Inc. and Apollo Global Management Inc.’s $25 billion deal last year and Goldman Sachs Group Inc.’s deal with Mubadala Investment Co. are examples of these tie-ups.
Banks see private markets as an avenue to grow their fee business without tying up balance sheets, while private credit funds are turning to banks for their experience in lending and their relationships with investors and companies. Cooperation between banks and private credit platforms means banks are moving from being asset holders to acting as originators, according to Arif Bhalwani, CEO of Third Eye Capital.
Business Canada Top Canada Company News Financials Industry Markets North America Stock Market News Top News World Top World
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Calgary's BMO Centre Expansion Completed On Time and Under BudgetThe Calgary Municipal Land Corporation (CMLC) successfully delivered the BMO Centre expansion this year, adhering to a $500-million budget despite facing inflation, supply chain issues, and general cost overruns. CEO Kate Thompson attributes the achievement to teamwork, hands-on management, and realistic planning.
Read more »
BMO strategist introduces a new guided, yield-oriented equity portfolioDaily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow
Read more »
Government upheaval leaves Canadian businesses facing more uncertainty than U.S. peers, BMO CEO saysRBC’s CEO, meanwhile, discussed the risks of president-elect Donald Trump’s threats of broad tariffs on Canada, and said the bank is preparing for a variety of scenarios
Read more »
Israeli Defense Minister Visits IDF Outpost In Lebanon, Says ‘We Have Defanged The Snake’Also, IDF expands operation in northern Gaza, eliminates senior Hamas terrorist.
Read more »
If You Think You Have Great Vocabulary Skills, This Animal Group Name Trivia Might Shake Your ConfidenceWarning: Cool animal pictures ahead! 😍 We all know that a group of puppies is called a litter, a group of lions is called a pride, but what about a group of fish that swim together, a group of zebras or giraffes walking together? This is where it gets kind of complicated, right? Your mission will be to identify which group of animals the given...
Read more »
Ottawa quietly expands gun buyback program to include partsWes Winkel, the owner of an Orillia, Ont. gun stores, and president of the Canadian Sporting Arms and Ammunition Association, says the addition of parts to the federal gun buyback program makes sense, but will drive up costs.
Read more »