BMO And Canal Road Group Form Partnership To Provide Direct Lending To Upper Middle-Market Firms

Bank of Montreal

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(RTTNews) - BMO (BMO.TO) a Canadian multinational financial services company and investment bank has announced a strategic partnership with Canal Road Group (CRG). Through this partnership, BMO will commit to supporting CRG's direct lending strategy with up to $1 billion in capital.

The alternative asset manager - CRG will leverage BMO's extensive banking network, providing a valuable source for strategic origination.

The strategic partnership seeks to expand access to private lending capital for sponsors and corporate clients, offering the scale and capacity to fund critical transactions. It will combine BMO's banking reach, origination, and capital markets expertise with CRG's growing capital base and investment management experience.

BMO will also gain access to CRG's network of borrowers, lenders, sponsors, and management teams, with plans to provide long-term credit facilities. Additionally, BMO will hold a non-voting minority stake in CRG's management company.

Currently BMOTO is trading at $140.51 or 0.79% lower on the Toronto Stock Exchange.