Nomura taps into private credit boom
Nomura has launched a new global private credit division and plans to lend $1bn (£796,776) from its own balance sheet over the next 18 months.
The Japanese bank, which has dipped its toe into the private credit sector before, provided one of its first loans under the new business division last Thursday, according to sources cited by Bloomberg.
Nomura, alongside PGIM, provided a £110m term loan and a £20m working capital bridge facility to support HIG’s takeover of DX Group, the report said.
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The new business division is being led by Gordon Sweely, the bank’s New York-based global head of securitised products and private credit, the sources said.
Many investment banks are tapping into the fast-growing private credit market, which was valued at $1.75trn at the end of 2022 according to Pitchbook.
Citigroup is in talks to start a new direct lending strategy in the coming months, while JP Morgan has set aside at least $10bn for alternative credit deals.
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