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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)

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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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