BMO Completes Sale of Transportation and Vendor Finance Units to Stonepeak
BMO Financial Group has finalized the divestiture of two specialty lending businesses to Stonepeak, transferring roughly C$11 billion in assets.
BMO Financial Group has closed its previously announced sale of Transportation Finance and Vendor Finance operations to infrastructure investment firm Stonepeak, the Toronto- and Chicago-based bank confirmed October 29, 2026.
At the time of closing, BMO transferred approximately 75% of the combined portfolio, representing roughly C$11 billion in assets, according to the company's announcement. The transaction marks a significant step in BMO's ongoing effort to streamline its commercial lending footprint.
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The divestiture of specialty finance units such as transportation and vendor lending is consistent with a broader trend among large North American banks to shed capital-intensive, non-core portfolios and redirect resources toward higher-priority business lines. For Stonepeak, a firm focused on infrastructure and asset-based investments, the acquisition adds a sizable portfolio of equipment and fleet-related financing assets.
BMO trades on both the Toronto Stock Exchange and the New York Stock Exchange under the ticker symbol BMO. No financial terms beyond the approximate asset value were disclosed in the company's announcement.
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