JPMorgan Chase said on Monday it was setting aside another $50 billion for its direct lending push, as the Wall Street giant looks to expand its foothold in the rapidly growing private credit market.

JPMorgan Chase & Co. is dramatically ramping up its direct-lending effort, setting aside an additional $50 billion to capture a bigger chunk of the fast-growing market.Most Read from BloombergTrump Targets $128 Billion California High-Speed Rail ProjectTrump Asserts Power Over NYC,

JPMorgan Chase has said it will set aside $50bn to lend to risky companies backed by private equity firms as it revs up its push into the booming private credit market. The largest US bank by assets said it had allocated $50bn of its own capital and had commitments for $15bn from other investors to make loans directly to companies,

JPMorgan Chase (NYSE:JPM) is pouring an additional $50B into its direct-lending push, it said on Monday, eyeing a leading role in the $1.6T private credit market, according to a media report dated Monday.