Stifel Financial and Lord Abbett formed a substantial leveraged lending joint venture, SBLA Private Credit. SBLA Private Credit will focus on both new issue and existing loans to small and mid-sized portfolio companies of financial sponsors.
“Stifel continues to forge strategic partnerships that allow the firm to meet the different needs of our diverse client base and offer a full suite of competitive private credit solutions,” Ron Kruszewski, chairman and CEO of Stifel, said. “By partnering with Lord Abbett, we are able to expand Stifel Bank’s capacity to lead larger credit facilities and better support the growth of our clients.”
“It is a privilege to work with a world-class partner like Stifel,” Douglas Sieg, CEO and managing partner of Lord Abbett, said. “This strategic partnership will deepen our market presence, expand our origination and increase our scale while differentiating and diversifying our loan origination capability and private credit offerings.”
SBLA Private Credit will be equally managed by senior representatives from Stifel Bank and Lord Abbett.
KBW, a Stifel company, advised Stifel. Bryan Cave and Dechert provided legal and regulatory advice to Stifel and Lord Abbett, respectively.
