CIT, Allstate team up on mid-market lending
Seeking Alpha
Published Jul 10, 2017 04:44PM ET
CIT, Allstate team up on mid-market lending
- CIT Bank (CIT -0.4%) has set a strategic partnership with Allstate (ALL -0.4%) in a mid-market joint venture.
- The team-up, CIT Northbridge Credit, offers financing in the $15M-$100M range to middle-market companies across a variety of industries, and via both term loans and revolving credit.
- The venture will have CIT Asset Management as an investment adviser; Deutsche Bank (DE:DBKGn) served as adviser to CIT on the deal.
- Now read: The Allstate Corporation (ALL) Presents At Deutsche Bank Global Financial Services Conference - Slideshow
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