Raymond James announced it is expanding the capabilities of its Investment Banking division by partnering with Eldridge Industries and Raymond James Bank to provide private credit solutions to sponsor-backed portfolio companies in four primary sectors: Consumer, Diversified Industrials, Healthcare and Technology & Services. Raymond James has also hired credit industry veteran Omer Masud as head of sponsor finance origination to launch the firm’s Private Credit effort.
A new Raymond James Bank-Eldridge Industries joint venture, Raymond James Private Credit, will provide private credit solutions to portfolio companies of private equity (PE) firms. It will bring together the sector expertise and origination of Raymond James’ Investment Banking platform, Raymond James Bank’s lending expertise, and Eldridge Industries’ asset management and capital markets expertise.
With Raymond James’ position as one of the largest middle market M&A platforms with nearly 1,000 PE firms under active coverage, the initiative will strengthen the firm’s relationship with leading PE firms across the middle market.
Masud joined Raymond James from Onex Falcon, where he served as head of origination and capital markets. He was also previously a managing director in Macquarie’s Financial Sponsors group. Plus, he specializes in structuring, negotiating, and executing M&A, debt, and equity transactions for mid-cap and large-cap companies across various industries. He has deep expertise in the PE space, including buyouts, acquisitions, restructurings, recapitalizations, and exits. He is based in NYC.
Eldridge Industries’ subsidiaries include leading global asset management businesses. Through these subsidiaries, Eldridge Industries provides both debt and equity capital, along with perspective, relationships, and a network of supportive businesses committed to growth. With nearly $80 billion in total assets across its investment and insurance subsidiaries, it has investments in the insurance, finance, technology, mobility, sports/gaming, media, real estate, and consumer sectors.
GreensLedge acted as an advisor to Raymond James.
KEY QUOTES:
“The Private Credit business will focus on four key sectors in which we have historically been very strong. The private equity community has always been one of our most important client constituencies and the blending of the firm’s powerful investment banking platform with Omer’s expertise in private credit solutions is further proof that we are committed to deepening our PE relationships.”
- Jim Bunn, president of Global Equities and Investment Banking at Raymond James
“Raymond James Bank has a strong history of offering comprehensive lending programs across the country. We’re thrilled to partner with Eldridge Industries to extend these capabilities even further, offering $50 million – $250 million+ per transaction to eligible private equity clients.”
- Steve Raney, chair and chief executive officer of Raymond James Bank
“For over 60 years, Raymond James has provided premium solutions to help its clients achieve financial success, and we are delighted to have the opportunity to partner with them. Our team firmly believes that private credit is a top asset class, and one that businesses can be in year after year. As such, we are proud to support the launch of Raymond James Private Credit, and look forward to working with the team to accelerate their offerings to PE clients.”
- Todd Boehly, co-founder and chief executive officer of Eldridge Industries
