Nomura Holdings Inc has joined the growing list of investment banks looking to grab a slice of the booming $1.6tn private credit market with the Japanese company said to be working on the development of a new private lending strategy, according to a report by Bloomberg.
The reports cites unnamed sources with knowledge of the matter as revealing that Nomura is looking to put down $1bn from its own balance sheet over the next 18 months to participate in private lending deals, rivalling firms such as Blackstone Inc and Ares Management Corp.
Gordon Sweely, the New York-based global head of securitized products and private credit at Nomura is the man tasked with leading the banks private credit push, which will involve lending to PE-backed firms, according to Bloomberg’s. sources.
Last week, the bank’s new private credit unit competed its first loan by teaming up with PGIM to provide a £110m ($138m) term loan and a £20m working capital bridge facility to back HIG’s takeover of DX Group Plc.
