JPMorgan Chase & Co is targeting partnerships with private debt firms including FS Investments and Octagon Credit Investors as it looks to grow its presence in the booming $1.7tn private credit space, according to a report by Bloomberg.
The report cites people with knowledge of the matter as confirming that discussion are at an advanced stage over the terms of the tie-ups although no deals have yet been agreed.
JPMorgan reportedly sees pulling together a group of lenders to help fund the private credit deals it originates as a key strategy in helping it compete more effectively with private credit majors such as Ares Management and Blackstone.
