Citi and LuminArx Capital Announce the Launch of Strategic Private Lending Vehicle, Cinergy
18 Janeiro 2024 - 11:00AM
Business Wire
Cinergy will offer a broad set of asset-backed
and corporate capital solutions to Citi’s global client base
Citi and LuminArx Capital today announced the launch of Cinergy,
a strategic financing vehicle in the rapidly growing private
lending market.
Launched by LuminArx Capital, Cinergy will offer a broad range
of private credit solutions to companies, including Citi’s global
client base. It will invest across multiple asset classes,
including asset-backed credit (commercial, consumer and
residential) and corporate debt across the capital structure.
To support Cinergy, LuminArx and its global institutional
partners intend to commit more than $2 billion of capital. In
addition, Citi’s leading Spread Products franchise will provide
innovative leverage solutions to Cinergy to expand Cinergy’s
investment capacity.
“The private lending market is experiencing transformative
growth, and we are pleased that Cinergy will enhance our ability to
meet the capital needs of our clients,” said Mitali Sohoni, Head of
Asset-Backed Financing at Citi. “Powered by LuminArx’s execution
capabilities and the significant industry experience of its team, I
believe Cinergy represents a truly differentiated offering.”
Cinergy will enable LuminArx to access a range of private credit
opportunities sourced by Citi through its extensive global client
network – including from its commercial banking division – and
utilize Citi’s distinct financing capabilities.
“The launch of Cinergy reflects our commitment to introducing
innovative investment solutions and our focus on providing creative
and bespoke financing opportunities to our partners,” said Gideon
Berger, Co-Founder and CEO of LuminArx. “We are increasingly
hearing from investors looking to capitalize on the growth of
private credit in new and differentiated ways, and Cinergy provides
a vehicle for achieving this that will be unique in the
market.”
About Citi
Citi is a preeminent banking partner for institutions with
cross-border needs, a global leader in wealth management and a
valued personal bank in its home market of the United States. Citi
does business in nearly 160 countries and jurisdictions, providing
corporations, governments, investors, institutions and individuals
with a broad range of financial products and services.
Additional information may be found at www.citigroup.com |
Twitter: @Citi | LinkedIn: www.linkedin.com/company/citi | YouTube:
www.youtube.com/citi | Facebook: www.facebook.com/citi
About LuminArx Capital
LuminArx Capital Management is a global alternative investment
manager focused on Special Situations investing with an eye toward
providing innovative, flexible, and strategic capital solutions.
The Firm targets consistent returns across market environments
while mitigating downside risks, with upside participation and low
correlation to traditional markets. LuminArx leverages a diverse
ecosystem of relationships across banks, corporations, governments,
and insurance companies, and partners with leading institutional
investors across the globe. Learn more at
https://www.luminarx.com/.
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version on businesswire.com: https://www.businesswire.com/news/home/20240118036454/en/
Citi Rekha Jogia-Soni Rekha.JogiaSoni@citi.com LuminArx Kate
Sylvester / Dan Zacchei ksylvester@longacresquare.com /
dzacchei@longacresquare.com
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