Raymond James has launched a new credit finance business unit for its middle-market clients. Raj Singh, vice chairman of Raymond James Investment Banking, will head the new group.
Raymond James announces the creation of a new Credit Finance business unit to serve its middle market clients with fully committed, high-quality lending services through its partnerships with several trusted, well-established industry credit investors managing billions in client assets.
“We have launched this new business unit in order to meet the increasing demands of our private equity and public company clients for this particular type of financing,” said Raj Singh, Vice Chairman of Raymond James Investment Banking and head of the new group. “We identified and have partnered with some of the industry’s most respected credit investors ─ funds managed by BlackRock, Invesco, Benefit Street Partners and Angel Island Capital, to help our clients achieve their business objectives.
“By blending our firm’s powerful investment banking and equities platform with our team’s expertise in the areas of deal financing ─ for acquisitions, recapitalization, dividend recapitalization, refinancing and growth capital ─ we can move quickly and efficiently in securing low-cost, fully committed capital, while relieving clients of many of the typical burdens of this type of financing.”
“The quality of our financing partners and their individual and collective capacity, when combined with the breadth and quality of the Raymond James platform, including Raymond James Bank, makes this a truly differentiated middle market-focused product,” added Robert Miller, Chief Operating Officer for Raymond James Global Equities and Investment Banking (GEIB). “We believe this group of lenders, along with our origination capabilities and extensive private and public company relationships, can quickly and consistently commit $50-$300 million per transaction, on a recurring basis.”
The team will be led by Singh who has over 20 years of experience, 17 with Raymond James. Previously, he was head of its Private Capital Solutions group and has completed more than 150 transactions including over $5 billion in debt placements.
“This is an important, strategic initiative for the Global Equities and Investment Banking platform,” said Jim Bunn, Co-President of GEIB, “and provides a critical growth-oriented competency in conjunction with a high quality partnership with extensive collective capacity to extend the range of capabilities we can offer our middle market clients.”