Fifth Third Bank and asset manager Eldridge Capital Management have announced a strategic partnership to offer private credit arrangements to commercial banking clients.
The partnership should better enable both parties to provide reliable private credit solutions to clients and meet evolving client needs, the firms said in a statement.
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“This marks a significant moment in providing a private credit solution for our clients,” said Kevin Khanna, head of commercial banking at Fifth Third.
“Both Fifth Third and Eldridge can deliver flexible, forward-looking financing solutions that empower clients to pursue strategic opportunities with confidence.”
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“This new partnership in private credit reflects a natural evolution of our engagement, grounded in a shared dedication to excellence,” added Nicholas Sandler, co-president of Eldridge Capital Management.
Eldridge has around $70bn (£52.5bn) of assets under management.
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