🍪 Our Cookies

This website uses cookies, pixel tags, and similar technologies (“Cookies”) for the purpose of enabling site operations and for performance, personalisation, and marketing purposes. We use our own Cookies and some from third parties. Only essential Cookies are used by default. By clicking “Accept All” you consent to the use of non-essential Cookies (i.e., functional, analytics, and marketing Cookies) and the related processing of personal data. You can manage your consent preferences by clicking Manage Preferences. You may withdraw a consent at any time by using the link “Cookie Preferences” in the footer of our website.

Our Privacy Notice is accessible here. To learn more about the use of Cookies on our website, please view our Cookie Notice.

The Unicrunch — The $25bn opportunity and private credit gets political

Share

Market Wrap

The Unicrunch — The $25bn opportunity and private credit gets political

Sami Vukelj's avatar
Peter Benson's avatar
  1. Sami Vukelj
  2. +Peter Benson
4 min read

The Unicrunch is our US private credit newsletter, in which we break down everything from unitranches to ABL. Sign up for the inside track on this fast-growing market.

Citi lights

Citigroup and Apollo have paired up to launch a new $25bn private credit program, adding another name to the growing list of bank-PC partnerships.

Some players are finding that cooperation can lead to better outcomes than competition when it comes to banks and direct lenders, reframing the narrative around their relationship. It’s less traditional banks versus PC firms narrative, but rather battles between PC and bank tag-teams.

In this hybridized arrangement, where banks and direct lenders operate as a sort of joint platform designed to capture the widest possible range of borrowers between the two, there could still be niches for those who aren’t quite at 25 big ones.

Read all our public content for free

We won't spam. You can unsubscribe at any time.

What are you waiting for?

Try it out
  • We're trusted by the top 10 Investment Banks