Citi has recently revealed that LuminArx Capital is introducing Cinergy, a strategic financing vehicle designed to cater to the burgeoning private lending market. The initiative will offer private credit solutions to companies, extending its services to include Citi's global client base.
According to a press release by Citi, Cinergy plans to diversify investments across a range of asset classes, including asset-backed credit and corporate debt. Utilizing Citi's extensive global client network, particularly in commercial banking, Cinergy aims to tap into private credit opportunities. LuminArx, in collaboration with its institutional partners, intends to commit over $2 billion in support of Cinergy. Meanwhile, Citi's Spread Products franchise will provide innovative leverage solutions aimed at enhancing 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, the 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."
Gideon Berger, Co-Founder and CEO of LuminArx echoed these sentiments in another statement. "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," Berger said. "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."
LuminArx Capital Management is recognized globally as an alternative investment manager renowned for its innovative capital solutions in Special Situations investing. According to information provided on the About webpage by LuminArx Capital Management itself, the firm focuses on delivering consistent returns with low correlation to traditional markets. It leverages diverse relationships across various sectors and collaborates with leading institutional investors globally.