St. Louis-based Stifel Financial Corp. and Seoul-based Korea Investment & Securities (KIS) rolled out a leveraged lending joint venture called SF Credit Partners this week.
Together the firms will build on each other’s capabilities and regional market expertise. The JV is still subject to pending regulatory approvals. Dechert advised Stifel on the deal.
A U.S. full-service investment bank, Stifel is also one of the largest equity underwriters and equity research providers in America and also acts as a M&A advisor in both public and private transactions. With respect to the JV, the firm also operates a fixed income platform that includes distribution, research and capital markets for leveraged loans and high yield.
KIS is the top issuer of IPOs in Korea and offers investment banking, alternative investment, investment management and other services.
“Over the past several years, Stifel has greatly expanded its focus on the vibrant private equity community, as both an advisor and lender to financial sponsors and their portfolio companies,” said Stifel Chairman and CEO Ronald Kruszewski in a statement. “We are excited to launch SF Credit Partners with Korea Investment & Securities. This joint venture is an innovative source of additional capital, enabling us to increase commitment capacity and provide enhanced leveraged finance product capabilities and lending solutions to our financial sponsor and corporate clients.”
“Seizing opportunities in the U.S. market is a critical element of the long-term growth strategy of KIS,” said Korea Investment Holdings Chairman and CEO Namgoo Kim. “In Stifel, we have found the ideal partner for this effort. Strategic collaboration with Stifel allows both KIS and Stifel to better serve clients and extends the reach of each firm into new markets.”
Kim added that the investment of capital and talent builds on the firm’s 2021 opening of its New York offices.