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Citigroup and Carlyle Group are partnering to provide debt and equity financing to growing financial technology firms, targeting the booming asset-backed finance market. The partnership will allow Carlyle and Citi to co-invest in young companies and their financial assets, such as consumer loans, and eventually arrange public asset-backed bonds.
“As these fintech companies mature they seek financing across both private and public markets,” Akhil Bansal, head of asset-backed finance at Carlyle, said in an interview. “With Carlyle’s ability to provide private capital financing and Citi’s to arrange public securitizations, we plan on covering their financing needs over their lifetime.”
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