Nomura has launched a brand new international non-public credit score division and plans to lend $1bn (£796,776) from its personal stability sheet over the subsequent 18 months.
The Japanese financial institution, which has dipped its toe into the non-public credit score sector earlier than, offered one among its first loans below the brand new enterprise division final Thursday, in response to sources cited by Bloomberg.
Nomura, alongside PGIM, offered a £110m time period mortgage and a £20m working capital bridge facility to assist HIG’s takeover of DX Group, the report stated.
Learn extra: Funding giants deepen their affect within the non-public debt house
The brand new enterprise division is being led by Gordon Sweely, the financial institution’s New York-based international head of securitised merchandise and personal credit score, the sources stated.
Many funding banks are tapping into the fast-growing non-public credit score market, which was valued at $1.75trn on the finish of 2022 in response to Pitchbook.
Citigroup is in talks to start out a brand new direct lending technique within the coming months, whereas JP Morgan has put aside no less than $10bn for various credit score offers.
Learn extra: Apollo estimates non-public credit score market is value $40trn
