Citigroup Inc. is in discussions to start a new direct-lending strategy by early January, the latest in a series of bank efforts to gain a foothold in the booming $1.6 trillion private credit market.
The initiative would complement the bank’s existing broadly syndicated leveraged finance business, according to a person with knowledge of the matter. It could include teaming up with one or more outside partners that would provide capital for loans, which the bank would originate, the person said, asking not to be named because the details are private.
Read More : Citi Engages in Talks to Initiate New Private Credit Strategy in Early 2024