Bay Street veterans launch long-term lender, plan to raise $750-million fund: Three credit market veterans are launching a new long-term lender, Private Debt Partners Inc., on Wednesday with plans to raise a $750-million fund that will back businesses rebuilding from the pandemic-induced economic downturn. (Andrew Willis)
Shopify tops RBC as Canada’s most valuable company: Shopify Inc. surpassed Royal Bank of Canada as Canada’s most valuable company in late trading Wednesday after the Ottawa retail software company posted stronger-than-expected first quarter results, joining other e-commerce giants that have experienced a similar lift as shoppers shifted more of their buying to their internet during the pandemic. (Sean Silcoff)
Sun Life, Manulife profits fall as outbreak takes toll: Canada’s two largest life insurers saw their profits sharply decline in the first quarter as the coronavirus outbreak pummelled global equity markets. (Clare O’Hara)
Alternative mortgage lender Westboro halts redemptions amid pandemic uncertainty: Westboro Mortgage Investment LP has suspended redemptions, the latest alternative lender to stop investors from taking their money out because of the tumult from the coronavirus pandemic. (Rachelle Younglai)
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