JPMorgan sets aside $50B more for direct lending push

(Reuters) – JPMorgan Chase (:MuseumOn Monday, it is said that it was another $ 50 billion for his immediate lending pressure, as Wall Street Giant examines his base in a rapidly growing private credit market.

Traditional lenders such as JPMorgan, Citigroup and Wells Fargo are in a hurry to rob a larger piece of the prosperous market, which prevails private capital suppliers.

The action class is planned to expand to $ 2028, reflecting stronger momentum than in the last two years, according to Moody’s.

JPMorgan has already moved more than $ 10 billion more than 100 private loans, corporate and sponsored customers, in the bank.

It also contacted many coordinated partners, which provided nearly $ 15 billion to private credit push.

“Our huge platform of origin with our” European Customer Databases, Overcrowded to Deliver Different Dissemilles and Growers Running Flow for Lenders, “said Global JPMorgan’s capital markets.

Banks have also joined the forces with investment companies to invade their private credit market.

Last year, Citigroup gathered for $ 25 billion in the private credit platform, while Wells Fargo collaborated with a direct loan fund in 2023.

(Reports by Arasu Kannagi Beasil in Bengaluru; Editing: Vijay Kishore)