Private credit-focused asset manager Liquidity has secured up to $450m in a financing deal led by KeyBank, marking a significant step in the firm’s expansion within the private credit market, according to a report by Reuters.
The agreement includes an initial $75m debt commitment from KeyBank, with the potential to scale up to $250m. Liquidity will raise the remaining funds through equity financing and mezzanine capital, a hybrid instrument that sits below senior debt in repayment priority.
This financing underscores the growing collaboration between private credit firms and banks, as traditional lenders seek exposure to the rapidly expanding alternative credit market. The deal also marks Liquidity’s first partnership with a US-based bank, highlighting its push into North America.
Liquidity, backed by Japan’s MUFG Bank, specialises in providing credit facilities of $10m to $150m for growth-stage technology companies.
