RBS strikes deal with three global asset managers

The Royal Bank of Scotland (RBS) has struck a deal with three global asset managers allowing them to lend alongside the bank to medium-sized businesses backed by private equity companies.

As part of the agreement, Hermes Investment Management, M&G Investments and AIG Asset Management will co-fund loans of up to £100m, of which £15m to £30m will come from RBS.

According to The Financial Times, the partnership provides a way for RBS to spread the risk of lending, while the fund groups benefits from an established route into the market and an existing client base.

The tie-up will provide RBS business customers with a single point of contact for loans, without the need to negotiate with other parties.