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BNY Mellon expands Asia access to US alternative credit

BNY Mellon has broadened its partnership with CIFC, a US-based alternative credit specialist, to enhance product offerings in Asia. This collaboration will integrate CIFC’s US direct lending strategy into BNY Mellon Investment Management’s global distribution platform, extending its reach to clients in EMEA and APC regions. Cathinka Wahlstrom, BNY Mellon’s chief commercial officer, emphasised the decade-long relationship with CIFC and the expansion beyond asset servicing to investment management distribution. Despite challenges in the private credit market, including expected base rate declines and increased competition, BNY Mellon notes a growing global investor demand for innovative investment solutions, particularly in US private credit, driven by both cyclical and secular growth trends.

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