Swiss banking giant UBS and US-based investment firm General Atlantic have announced a strategic partnership aimed at expanding their presence in the rapidly growing private credit market, according to a report by Reuters.
The alliance marks the latest in a string of collaborations between traditional banks and alternative asset managers as the private credit space continues to gain traction.
Under the terms of the partnership, UBS will originate and structure lending opportunities for corporate borrowers across North America and Western Europe. General Atlantic will then deploy capital into these opportunities via its suite of investment strategies, offering clients access to private credit exposure.
The new private credit initiative will be managed by a dedicated team comprised of professionals from General Atlantic’s credit platform and UBS Asset Management’s credit investment division, the firms said in a joint statement.
The move comes as private credit continues to outpace traditional lending, driven by increasing demand for flexible, non-bank financing solutions. Asset managers, which operate under lighter regulatory frameworks than banks, have captured growing market share, prompting financial institutions to seek collaborative models that maintain client relationships while limiting balance sheet exposure.
UBS and General Atlantic join a growing roster of institutions pursuing similar strategies. Recent examples include Deutsche Bank’s agreement to give its asset management arm, DWS, priority access to originated deals, and HSBC’s reported preparations to enter the private credit space.
Financial terms of the UBS–General Atlantic partnership, including capital commitments, have not been disclosed.
