Bank of Montreal (BMO) and Canal Road Group said Friday that they have formed a partnership to expand clients' access to the private lending capital pool.
The companies said the partnership will include a commitment from Bank of Montreal that will allow Canal Road Group to invest up to $1 billion in capital to support their direct lending strategy.
As part of the deal, Bank of Montreal will own a non-voting minority stake in Canal Road Group's management company.
Price: 97.77, Change: -0.67, Percent Change: -0.69
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