Dedicated team brings together origination, underwriting, portfolio management, borrower relationship management and syndication to provide financing for mid-market sponsor transactions
NEW YORK, August 11, 2022 /PRNewswire/ — Mitsubishi UFJ Financial Group (MUFG) today announced the creation of a Direct Lending Group which will focus on providing loans to the bank’s private equity sponsor clients to support their portfolio company’s LBO and recapitalization transactions.
The team will be led by Matt Maley, who joined MUFG in 2018 to manage sponsor coverage. In his new role as Head of Direct Lending, Maley will report to Jon LindenbergHead of Global Corporate and Investment Banking (GCIB) for the Americas.
“We launched a direct lending initiative in 2019 when our sponsor clients approached us to fund their mid-market LBOs outside of the heavily syndicated institutional market,” Maley said. “Having completed over 50 direct lending transactions to date, this offering has become an important tool in our toolbox, helping us grow our referral business in the United States for $300 million In income.”
“Establishing a dedicated group to target the direct lending market with an end-to-end solution will allow us to meet our customers’ needs and realize the benefits of MUFG. $3 trillion balance sheet, one of the largest in the world,” Lindenberg said.
MUFG approaches the direct lending market as a solutions provider for private equity sponsor clients and their portfolio companies, leveraging MUFG’s broad platform and capability set. Recent examples include:
- MUFG provided a 100% underwritten direct loan commitment to support Brightstar’s acquisition of WindsorOne, the wood panel industry leader.
- MUFG provided a direct loan to Authority Brands, an Apax portfolio company, and within 18 months helped refinance that loan with a securitization of the entire business.
- MUFG provided a direct loan to support One Equity Partner’s acquisition of Pittsburgh Glass Works, the leading automotive glass distributor in the North American aftermarket.
- MUFG was part of a direct loan syndicate that helped Warburg Pincus acquire Sweeping Corporation of America, then advised the sale of CleanStreet to Sweeping Corporation of America through the bank’s M&A division, Intrepid.
- MUFG provided a direct loan to Offen Petroleum, a Court Square portfolio company, and within 12 months significantly increased its commitment to supporting organic growth.
The new unit will be responsible for all aspects of direct lending, including sponsor coverage and origination, underwriting and portfolio management, borrower relationship management and loan syndication.
About the U.S. operations of Mitsubishi UFJ Financial Group, Inc., including MUFG Americas Holdings Corporation
The US operations of Mitsubishi UFJ Financial Group, Inc. (MUFG), one of the world’s leading financial groups, has total assets of $332.4 billion at March 31, 2022. Within this total, MUFG Americas Holdings Corporation (MUAH), a financial holding company, bank holding company and intermediate holding company, has total assets of $159.2 billion at March 31, 2022. MUAH’s principal subsidiaries are MUFG Union Bank, NA and MUFG Securities Americas Inc. MUFG Union Bank, NA provides a wide range of financial services to consumers, small businesses, middle market businesses and large corporations. From March 31, 2022, MUFG Union Bank, NA operated 297 branches, consisting primarily of retail banking branches in the West Coast states. MUFG Securities Americas Inc. is a registered securities dealer that engages in capital markets origination transactions, domestic and foreign debt and equity securities transactions, private placements, secured financings and securities borrowing and lending transactions. MUAH is owned by MUFG Bank, Ltd. and Mitsubishi UFJ Financial Group, Inc. MUFG Bank, Ltd., a wholly owned subsidiary of Mitsubishi UFJ Financial Group, Inc., has offices in Argentina, Brazil, Chile, Colombia, Peru, Mexicoand Canada. Visit unionbank.com Where www.mufgamericas.com for more information.
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Based at Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,500 locations in over 50 countries. The group has approximately 170,000 employees and offers services such as commercial banking, trust banking, securities, credit cards, consumer credit, asset management and leasing. The Group aims to “be the most trusted financial group in the world” through close collaboration between our operating companies and to respond flexibly to all the financial needs of our customers, serving society and promoting shared growth and sustainability for a better world. Shares of MUFG trade on the Tokyo, Nagoyaand New York scholarships. For more information, visit https://www.mufg.jp/english.