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Investing.com -- Citigroup (NYSE:C) and Carlyle Group (NASDAQ:CG) have formed a partnership to provide asset-backed financing to fintech lenders, the companies announced Thursday.
The partnership will involve sharing market intelligence between the two firms, as well as exploring co-investment and financing opportunities.
Fintech lenders are increasingly seeking capital from investment firms as they face growing demand from borrowers.
"Demand for scalable and tailored asset-backed financing solutions from fintech lenders has increased as they mature and seek efficient ways to fund their growth," said Akhil Bansal, head of asset-backed finance at Carlyle.
Asset-backed financing, which involves lending secured by a pool of assets, represents one of the fastest-growing segments in the private credit market.
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