JPMorgan Nears $3 Billion for Private Debt in Hunt for Partners

JPMorgan Chase & Co. is in talks to clinch $2.5 billion to $3 billion of third-party commitments to grow its private credit strategy, according to people with knowledge of the matter.

The New York-based lender has cast a wide net as it seeks to raise cash — targeting sovereign wealth funds, pensions, endowments, alternative asset managers and others. It’s received the most interest from credit managers that already invest in corporate debt but have limited access to private deal flow, the people said.

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