Broadridge Financial Solutions has been selected by MUFG Investor Services to provide loan tracking and reporting technology to private debt clients.
The collaboration follows recent growth in the private debt, private credit and direct lending sector, which has seen an increase in demand for software capabilities to administer and handle loans.
In the agreement, Broadridge will implement its Sentry Loan Portfolio Management System, a web-based solution that allows users to monitor compliance issues, as well as reconcile and aggregate data to streamline and automate processes.
Treabhor Mac Eochaidh, head of debt services at MUFG, commented: “The private debt business is experiencing tremendous growth right now among middle markets and smaller firms, and we want to have a platform that caters to the needs of this thriving business.”
“By adopting Broadridge’s system, we are tapping into the most comprehensive and flexible loan system on the market and expanding our offerings to meet the evolving needs of our clients.”
Eric Bernstein, president of asset management solutions at Broadridge, added: “The Sentry solution is designed to address front-, middle- and back-office functionality, and positions firms for the future with optimal transparency and efficiency.”
“In working with the Sentry system, MUFG will be better able to streamline its processes and address the current demands of private debt funds.”
