(Reuters) -Swiss lender UBS Group AG and U.S. investment firm General Atlantic have launched a partnership to expand into the private credit market, the companies said on Tuesday.
Private credit refers to the loans typically made to risky borrowers or companies looking to clinch mega buyouts with debt. These loans can be processed quickly and are an important source of funds for borrowers deemed too vulnerable by conventional banks.
The companies did not disclose the capital they will commit to the partnership.
(Reporting by Niket Nishant in Bengaluru; Editing by Vijay Kishore)
Comments