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MA Financial’s US$1.7b private credit JV in flying start with seven deals done in first month

Just one month after launch, the US middle-market joint venture with Monroe Capital and SMBC has already written several loans in 'boring' sectors.

Jassmyn Goh
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MA Financial's Frank Danieli says there was a lot of upfront work to make sure the three partners were aligned on their respective credit philosophies. Supplied.

ASX-listed alternative asset manager MA Financial Group's private credit joint venture was only announced at the beginning of the month, but it has already struck seven deals in what its partners are describing as an unusually successful start.

MA Financial, which is active in private credit in Australia, formed the joint with Chicago-based Monroe Capital and Japan's Sumitomo Mitsui Banking Corporation (SMBC) to lend up to USD1.7 billion to "middle market" companies in the US.

MA Financial head of global credit solutions Frank Danieli and Monroe Capital managing director, head of business strategy Sweta Chanda told Capital Brief financing partnerships often take much longer to deploy capital.

“We've been able to start out the gates lending successfully, versus some partnerships where there is perhaps a bit of a struggle to find deals that work,” Danieli said.