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The case for banks taking a more structurally embedded role in private credit got a concrete example July 16, when Canal Road Group announced that SMBC had agreed to make an equity commitment to CRG's direct lending strategy.
The move unlocks up to $225 million in additional investable capital. That dollar figure is the headline, but the form of the commitment is the more telling detail.
What the SMBC equity commitment covers Canal Road Group, based in Miami, described the arrangement as an expansion of an existing relationship between the two firms.
SMBC is not a new entrant to CRG's orbit, and the equity commitment deepens a tie that already had some tenure.
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