Bermuda-based reinsurer PartnerRe has invested in a company that is expanding its trading platform for corporate debt.

PPF Finance LLC, a subsidiary of PartnerRe, and Metropolitan Equity Partners have each invested an undisclosed amount in CreditMax.

In a statement released yesterday, CreditMax described the transaction as a growth equity investment, designed to enable the rapid expansion of CreditMax's NDSE Trading Platform and the launch of CreditMax's debt lending programme for qualified debt buyers.

CreditMax's NDSE exchange enables sellers to list debt for sale on a US national, regional, state, local, or even account-specific basis. The platform enables buyers to identify and analyse portfolios in an efficient manner and to acquire those assets that have the most value to them.

The capital investment is being used to expand operations to increase the supply of debt on the NDSE as well as to provide financing on terms commercially unavailable elsewhere to portfolio buyers.