A Chevy Chase, Md., asset management firm that helps small banks team up on large commercial loans has raised $150 million in new capital that it will use to expand its lending network.

Alliance Partners said Tuesday that investments came from both existing shareholders, including BlackRock (BLK) and co-founder John Delaney, and new ones, including the private-equity firm Blue Mountain Capital Group. Alliance did not disclose the size of BlueMountain's investment, saying only that it is "significant."

Alliance manages BancAlliance, a network it founded in late 2010 to help community banks find partners for loans that are generally too large for them to make on their own. As of Tuesday, BancAlliance had 56 banks in its network, ranging in size from $100 million to $10 billion of assets.

In a news release, Alliance Chief Executive Lee Sachs, a former assistant secretary of the U.S. Treasury, said that the additional capital will help BancAlliance better serve its clients. "These important investments and resources position us well to continue building the BancAlliance network by providing our members an even broader array of high-quality loans."

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