JPMorgan Spending Additional $50 Billion on Private Credit Effort

JPMorgan Chase is reportedly earmarking another $50 billion for its direct lending efforts.It’s part of an effort by the banking titan to gain a greater foothold in the fast-growing private credit market, Reuters reported Monday (Feb. 24).As that report notes, traditional lenders like Wells Fargo, JPMorgan and Citigroup are scrambling to get a piece of this market, traditionally dominated by private capital providers. Private credit is expected to become a $3 trillion business by 2028, the report said, citi ...