U.S. Bank is building upon its subscription finance capabilities by launching a dedicated subscription finance group to support U.S. fund managers’ new investment activity.

The specialized lending unit provides fund managers with revolving credit facilities backed by committed capital from investors. The tailored and flexible financing solutions help fund managers execute new investment opportunities prior to calling capital from investors who have committed to the fund. The subscription financing will be offered across a range of investment strategies, including private equity, private credit, and infrastructure funds.

The group is led by Mike Henry, who joined U.S. Bank in October 2021 from Wells Fargo. Based in Charlotte, N.C., Henry has nearly two decades of banking experience across corporate lending, leveraged finance, and subscription finance.

“Private funds play a significant role in allocating capital across the economy, and we are seeing growing demand from fund managers looking for subscription financing from a trusted partner like U.S. Bank,” said Jimmy Whang, managing director and head of credit and municipal fixed income at U.S. Bank. “Our dedicated subscription finance group provides a terrific opportunity to leverage the bank’s strengths to meet the needs of our clients and the market.”

“In the short time since going to market, we’ve seen tremendous interest from leading fund managers in our ability to understand their financing needs, propose tailored and flexible facility structures, and ultimately commit meaningful capital in support of their latest fundraise,” said Henry. “We look forward to supporting additional private-capital funds to help them efficiently execute their investment strategies.”