TD Asset Management expands global private credit platform

TD Asset Management (TDAM) has completed the first investment under its global private credit strategy, reflecting growing demand for diversified private credit among institutional and wealth investors.

The inaugural investment was made through the newly launched TD Greystone Global Private Credit Fund, part of TD Greystone's CAD42.4 billion ($30.1 billion) private markets platform, which aims to build a diversified, evergreen portfolio of high-income credit investments.

The fund seeks to provide attractive risk-adjusted returns for investors across direct lending (middle market corporate credit), real estate debt, infrastructure debt and specialty finance markets without the need to navigate multiple funds or managers. The first opportunity comes from one of TDAM's existing relationships within the infrastructure space. This loan monetises equity distributions of operational fibre networks in North America 100% owned by the builder/operator. Building on TDAM's long track record of developing tailored credit solutions, this sole-sourced, bilateral loan is structured with appropriate covenants, contractual provisions, and reserve accounts while offering a yield that aligns with the Fund's current objective of an 8% to 10% unlevered yield.

"Our first investment also showcases the depth of our origination channels, across infrastructure and other real asset lending, in addition to the direct lending opportunities we are seeing through our alignment with TD Bank partners," said Bruce MacKinnon, managing director and head of private debt, research and origination at TDAM. According to Colin Lynch, managing director and head of private markets at TDAM, "This opportunity serves as a proof point that careful, selective underwriting can find opportunities that provide premium income without lowering our standard of credit resilience."

The team expects the Fund's second and third deals to rapidly follow in the footsteps of this allocation. To bolster the team's efforts and reinforce our commitment to the Private Credit platform, TDAM recently added two origination specialists to its affiliate office in London, UK after adding specialists in Toronto and New York in 2025.

The firm has over 35 years of experience managing alternatives, and the Fund joins TDAM's comprehensive alternative investments suite, which includes global investment-grade private debt, global real estate, Canadian commercial mortgages, and global infrastructure.

TDAM is a wholly-owned subsidiary of The Toronto-Dominion Bank.

Re-disseminated by Wealth and Society