Stifel & Lord Abbett Form Leveraged Lending Joint Venture
June 12 2024 - 8:30AM
Stifel Financial Corp. (NYSE: SF) and Lord Abbett, LLC, today
announced the formation of 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 and compliments the existing
capabilities of both firms.
SBLA Private Credit brings together two of the industry’s most
established brands, with in-depth coverage across the middle market
and reputations for strategic growth and disciplined risk
management. Coupling the strength of Stifel’s full-service platform
and entrenched direct lending capabilities with Lord Abbett’s
leveraged credit presence and significant capital base, SBLA
Private Credit is uniquely positioned for success in today’s
origination market.
“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,” said
Ron Kruszewski, Chairman and CEO of Stifel. “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,” said Douglas Sieg, CEO & Managing Partner of Lord
Abbett. “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. As a
demonstration of both firms’ strong and aligned credit cultures,
Stifel and Lord Abbett have already co-invested across multiple
loans.
Lord Abbett was founded in 1929 and is an independent, privately
held asset manager and one of the oldest money management firms in
the U.S. Lord Abbett manages assets across a full range of U.S.
mutual funds, institutional, and separately managed accounts for
clients around the world. In addition, Lord Abbett has been
managing leveraged credit since 1971 and recently launched a
private credit business focused on middle market corporate
lending.
Founded in 1890, Stifel is an international full-service
investment bank based in the United States, with extensive
capabilities across products and industry sectors. Stifel operates
a substantial fixed income platform, including distribution,
research, and capital markets for leveraged loans and high
yield. In addition, Stifel is one of the largest equity
underwriters and equity research providers in the United States and
acts as a leading M&A advisor in both public and private
transactions.
KBW, a Stifel Company, advised Stifel. Bryan Cave LLP and
Dechert LLP provided legal and regulatory advice to Stifel and Lord
Abbett, respectively.
Stifel Company Information
Stifel Financial Corp. (NYSE: SF) is a financial
services holding company headquartered in St. Louis, Missouri, that
conducts its banking, securities, and financial services business
through several wholly owned subsidiaries. Stifel’s broker-dealer
clients are served in the United States through Stifel, Nicolaus
& Company, Incorporated, including its Eaton Partners and
Miller Buckfire business divisions; Keefe, Bruyette & Woods,
Inc.; and Stifel Independent Advisors, LLC; in Canada through
Stifel Nicolaus Canada Inc.; and in the United Kingdom and Europe
through Stifel Nicolaus Europe Limited. The Company’s broker-dealer
affiliates provide securities brokerage, investment banking,
trading, investment advisory, and related financial services to
individual investors, professional money managers, businesses, and
municipalities. Stifel Bank and Stifel Bank & Trust offer a
full range of consumer and commercial lending solutions. Stifel
Trust Company, N.A. and Stifel Trust Company Delaware, N.A. offer
trust and related services. To learn more about Stifel, please
visit the Company’s website at www.stifel.com. For global
disclosures, please visit
https://www.stifel.com/investor-relations/press-releases.
Lord Abbett Company Information
Lord Abbett & Co. LLC is a privately held, global asset
management firm founded in 1929. From the day we first opened for
business, our approach to investing for and serving our clients has
been rooted in our core beliefs: Our clients always come first, our
firm maintains a singular focus on the management of money, and our
perspective is shaped by our independent thinking. These beliefs
and our experience have empowered us to serve generations of
clients, navigate changing markets, and earn the privilege of
managing $199.1 billion in assets (as of March 31, 2024) across a
full range of global investment offerings.
Lord Abbett has augmented its long-standing $40 billion
leveraged credit investment business with a committed pool of
capital dedicated to private credit. This capital is managed by a
senior investment team averaging over 20 years of industry
experience. For more information about Lord Abbett, please visit
the Company’s website at https://www.lordabbett.com.
Stifel Media ContactNeil Shapiro, +1
(212) 271-3447shapiron@stifel.com
Stifel Investor Relations ContactJoel
Jeffrey, +1 (212) 271-3610investorrelations@stifel.com
Lord Abbett Media Contact Jim
Sansevero, +1 (201) 827-2774jsansevero@lordabbett.com
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