JPMorgan Chase plans to acquire a private credit firm to expand its $3.6tn asset management division and allocate $10bn for direct lending.
JPMorgan Chase seeks to acquire a private credit firm to grow its $3.6tn asset management arm. The bank has allocated over $10bn for direct lending and aims to partner with asset managers for private credit deals. Interest in the $1.7tn private credit industry is increasing, with banks like JPMorgan seeing it as a way to raise asset management fees and offer more options for borrowers.
May 23, 2024
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