Taking (back) the Credit — Banks stage an insurgency
- Josie Shillito
This article is part of our forthcoming service, 9fin Private Credit. If you're interested in a free trial, contact firstname.lastname@example.org
There’s been noise this week, not from private credit funds making consolidation plays, but from banks announcing they are firmly in the private credit game. These broadcasts, whether on or off the record, were described by one banking source as “banks heavily threatened by direct lending”.
What is important to examine, however, is the fine print. If a bank is fundraising, where is its target market and strategy? And if it’s taking the route of investing off balance sheet, how will it do that at scale?