Mizuho Acquires Minority Stake in Private Credit Firm Golub
In This Article:
(Bloomberg) -- Mizuho Financial Group Inc. bought a minority stake in Golub Capital, as it seeks to take advantage of the growing private credit markets in the US.
Most Read from Bloomberg
-
A 7,000-Year-Old City Emerges as a Haven from Dubai’s Sky-High Rents
-
New Rowhouses in London That Offer a Bridge to the 19th Century
As part of the transaction giving Mizuho a less than 5% passive, non-voting ownership in Golub’s management companies, the Tokyo-based bank will exclusively promote and offer Golub’s investment products to retail and high net worth investors in Japan, according to a statement Monday.
Golub plans to use proceeds from the deal to bolster its capacity to provide financing solutions to private equity sponsors.
The transactions marks Mizuho’s first stake in a US private credit asset manager, adding its name to the list of banks partnering with private credit asset managers to take advantage of the $1.7 trillion industry. Last week, Citigroup Inc. and Apollo Global Management Inc. announced they would partner on $25 billion of private credit deals over the next few years.
Firms have also been eyeing retail investors as the next source of growth for private credit. Amundi SA and First Eagle Investments have partnered up to raise up to $5 billion for a new private credit strategy that will offer wealthy investors in Europe, the Middle East and Asia access to private loans made up mid-size US companies.
(Updates second paragraph to include that Mizuho is taking a non-voting stake in Golub Capital.)
Most Read from Bloomberg Businessweek
-
Military Veterans Help Plug Worker Shortages at EV, Battery Plants Sprouting Up in the US
-
The Presidential Election Isn’t Stopping International Students From Coming to America
?2024 Bloomberg L.P.