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BMO and Canal Road Group Form Strategic Partnership Aimed at Providing Direct Lending to Upper Middle-Market Companies
BMO and Canal Road Group Form Strategic Partnership Aimed at Providing Direct Lending to Upper Mi...
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[{"type":"text","content":"\n\n\n\n BMO and Canal Road Group Form Strategic Partnership Aimed at Providing Direct Lending to Upper Middle-Market Companies\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n NEW YORK\n \n\n ,\n \n\n Jan. 10, 2025\n \n\n /CNW/ - BMO (NYSE: BMO) and Canal Road Group (\"CRG\") today announced they are entering into a strategic partnership. As part of the arrangement, BMO's commitment to CRG will enable CRG to invest up to\n \n $1\n \n\n\n billion in capital in support of their direct lending strategy.\n \n\n\n\n\n\n\n\n\n CRG is an alternative asset manager specializing in originating, underwriting, and managing portfolios of senior secured corporate debt investments for companies in\n \n North America\n \n sourced largely from sponsors. CRG will benefit from BMO's network of banking relationships, facilitating a strategic origination source.\n \n\n The strategic partnership aims to broaden sponsor and corporate clients' access to the private lending capital pool with scale and capacity to provide funding for critical transactions. The partnership will combine BMO's extensive banking client reach, origination, and capital markets expertise with CRG's growing capital base and proven track record of investment management. BMO will also benefit from access to CRG's network of borrowers, lenders, sponsors, and management teams and anticipates providing credit facilities to CRG's strategy over the long-term.  As part of the arrangement, BMO will hold a non-voting minority stake in CRG's management company.\n \n\n \"This exciting project brings BMO together with CRG to offer a full suite of innovative, private financing solutions to our clients,\" said\n \n Alan Tannenbaum\n \n , CEO & Group Head, BMO Capital Markets. \"By leveraging BMO's robust banking, capital markets and sponsor finance platforms alongside CRG's expanding capital resources, clients will have access to the full array of financing solutions tailored to support their evolving needs and strategic objectives.\"\n \n\n CRG commented, \"We are excited to collabora...