Reported 2 days ago
Wall Street is shifting strategies to retain its leveraged underwriting business amidst an uptick in private credit opportunities. After losing significant financing deals to direct lenders, banks, including Jefferies and Citigroup, are adjusting by offering low-fee revolving credit to private equity firms like KKR. This cooperative approach aims to build long-term relationships that could secure future business, even amidst market volatility, highlighting the evolving dynamics in the finance sector.
Source: YAHOO