Citigroup (C) is increasing its lending to private equity and private credit firms after stepping back from this market for several years, Bloomberg reported Monday, citing sources familiar with the matter.
The bank has resumed offering loans secured by investor commitments to funds, the report said.
The move is part of Chief Executive Jane Fraser's strategy to reshape the bank and raise profits through fee-based services as well as strengthen relationships with alternative asset managers, Bloomberg said.
Citigroup did not immediately respond to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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