JPMorgan Hunts for Private Credit Firm to Grow in Hot Sector
- Asset manager is looking to add to its alternatives business
- Talks to buy Monroe Capital this year failed to reach a deal
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JPMorgan Chase & Co. is on the hunt to buy a private credit firm to augment its $3.6 trillion asset management arm, as the biggest US bank makes more inroads into Wall Street’s buzziest sector.
The JPMorgan unit is seeking a private credit shop that could bolster its private capital business, according to people familiar with the matter. As part of the effort, the company held talks to buy Chicago-based Monroe Capital this year, but the two firms ultimately decided not to pursue a deal, the people said, asking not to be named describing private discussions.