KeyBank and Beach Point Capital Management, an investment manager, have established a direct lending program with $1.5 billion in lending capacity for U.S. middle market clients.

The Direct Lending Program will combine sourcing, underwriting and structuring capabilities for borrowers.

“This product will provide a competitive financing solution with a seamless, streamlined execution for our middle market clients,” said KeyBank Beach Point Direct Lending Program fund manager Bob Scelza. “We are excited to partner with Beach Point to add a middle market direct lending program to our platform.”