Wall Street banks are looking to start trading private credit loans as they seek to make inroads into the lucrative world of direct lending, a potential first step that could ultimately reshape the largely buy-and-hold market.
JPMorgan Chase & Co., Goldman Sachs Group Inc. and Barclays Plc are among the firms talking to private debt funds about facilitating secondary-market transactions, according to people with knowledge of the matter — with some banks reaching out directly to gauge manager interest. JPMorgan is using its own balance sheet to make markets amid an increase in client inquiries, said separate people familiar, who asked not to be identified because the details are confidential.
Source : JPMorgan and Goldman Sachs to Begin Trading Private Credit Loans