Liberty Mutual Investments Anchors Strategic Partnership With Square Nine Capital
NEW YORK, April 07, 2026–(BUSINESS WIRE)–Liberty Mutual Investments (“LMI”), the investment firm for Liberty Mutual Group (“Liberty”), and Square Nine Capital (“Square Nine”) today announced a long-term strategic partnership, focused on supporting the growth of Square Nine as it pursues solutions-oriented corporate credit investments. Through the partnership, the firms expect to collaborate on investment opportunities sourced across Square Nine’s platform.
Founded in 2025 by investment industry veterans Peter Ma and Nicole Musicco, Square Nine focuses on senior secured loans and structured capital solutions for U.S. middle-market companies in complex situations, typically outside of a traditional LBO framework, including opportunities created by periods of market dislocation. The firm draws on a broad origination network designed to support selective, disciplined underwriting.
“This is a segment of the market that has long been underserved by traditional capital despite its resilience across market cycles,” said John Reichard, Head of Partnerships within Global Credit Markets at Liberty Mutual Investments. “Square Nine brings an active, partnership-oriented approach to private credit that aligns closely with LMI’s long-term investing strategy. We are thrilled to partner with Peter and Nicole as they scale Square Nine and pursue attractive opportunities in this overlooked segment.”
“We are excited to partner with Liberty Mutual Investments at this formative stage for Square Nine,” said Peter Ma and Nicole Musicco, Co-Managing Partners of Square Nine. “LMI’s long-term approach, strategic perspective and alignment with our values make them an ideal partner as we work to build a differentiated corporate credit platform focused on bespoke opportunities in the U.S. middle market.”
LMI invests more than $124 billion of long-term capital globally across its integrated platform on behalf of Liberty. LMI leverages a flexible investment approach to partner with leading operators and build enduring businesses side-by-side with its partners.
Square Nine has expanded its network of institutional partnerships, including those with accounts managed or advised by Aksia and GCM Grosvenor.
About Liberty Mutual Investments
Liberty Mutual Investments (“LMI”) is the investment firm for Liberty Mutual Group (“Liberty”), a global insurance and capital solutions partner. With deep expertise in liquid, credit, and alternative strategies, LMI invests more than $124B of capital globally, taking a long-term approach across its integrated platform. LMI has a clear purpose: build enduring businesses side-by-side with our partners, drive economic growth, and generate superior risk-adjusted returns that power Liberty’s strategy and secure its promises.
