This partnership formalizes an existing connection that already features a $350 million asset-based lending facility. By integrating their respective sponsor and borrower networks, the two firms aim to broaden their reach across the private credit market. Since its inception less than two years ago, CRG has deployed nearly $1.2 billion in capital to corporate borrowers.

The firm is led by founders Mike Damaso and Don Young, who previously scaled CBAM Partners to $15 billion in assets before its 2022 sale to Carlyle. SMBC’s decision to invest serves as a validation of this team’s underwriting track record and their ability to source deals in a competitive environment. CRG currently maintains a team of 14 former CBAM professionals in its Miami headquarters, focusing on senior secured investments.