Citi and LuminArx Capital Announce the Launch of Strategic Private Lending Vehicle, Cinergy

Cinergy will offer a broad set of asset-backed and corporate capital solutions to Citi’s global client base

NEW YORK--(BUSINESS WIRE)-- Citi and LuminArx Capital today announced the launch of Cinergy, a strategic financing vehicle in the rapidly growing private lending market.

Launched by LuminArx Capital, Cinergy will offer a broad range of private credit solutions to companies, including Citi’s global client base. It will invest across multiple asset classes, including asset-backed credit (commercial, consumer and residential) and corporate debt across the capital structure.

To support Cinergy, LuminArx and its global institutional partners intend to commit more than $2 billion of capital. In addition, Citi’s leading Spread Products franchise will provide innovative leverage solutions to Cinergy to expand Cinergy’s investment capacity.

“The private lending market is experiencing transformative growth, and we are pleased that Cinergy will enhance our ability to meet the capital needs of our clients,” said Mitali Sohoni, Head of Asset-Backed Financing at Citi. “Powered by LuminArx’s execution capabilities and the significant industry experience of its team, I believe Cinergy represents a truly differentiated offering.”

Cinergy will enable LuminArx to access a range of private credit opportunities sourced by Citi through its extensive global client network – including from its commercial banking division – and utilize Citi’s distinct financing capabilities.

“The launch of Cinergy reflects our commitment to introducing innovative investment solutions and our focus on providing creative and bespoke financing opportunities to our partners,” said Gideon Berger, Co-Founder and CEO of LuminArx. “We are increasingly hearing from investors looking to capitalize on the growth of private credit in new and differentiated ways, and Cinergy provides a vehicle for achieving this that will be unique in the market.”

About Citi

Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.

Additional information may be found at www.citigroup.com | Twitter: @Citi | LinkedIn: www.linkedin.com/company/citi | YouTube: www.youtube.com/citi | Facebook: www.facebook.com/citi

About LuminArx Capital

LuminArx Capital Management is a global alternative investment manager focused on Special Situations investing with an eye toward providing innovative, flexible, and strategic capital solutions. The Firm targets consistent returns across market environments while mitigating downside risks, with upside participation and low correlation to traditional markets. LuminArx leverages a diverse ecosystem of relationships across banks, corporations, governments, and insurance companies, and partners with leading institutional investors across the globe. Learn more at https://www.luminarx.com/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240118036454/en/

Citi

Rekha Jogia-Soni

Rekha.JogiaSoni@citi.com



LuminArx

Kate Sylvester / Dan Zacchei

ksylvester@longacresquare.com / dzacchei@longacresquare.com

Source: Citi