Sergio Padilla

The partnership has $5bn in investable capital, and follows Oak Hill’s launch of a $1.5bn perpetual BDC.

After slow M&A activity in 2023, private lenders are becoming more aggressive as they fall behind schedule with their deployment of capital.

Golub Capital’s Altman Index shows firm growth in the mid-market was led by healthcare, industrial and tech firms.

The partnership is yet another in a raft of link-ups between a bank and a private credit manager in the last year.

While traditional lenders such as regional banks dial back lending, alternative lenders are filling in the gap.