Goldman Sachs and UBS Group are among lenders who are tightening their approach to providing specialized financing to Australia's private credit managers, according to a Thursday report by Bloomberg, citing people familiar with the matter.
The banks are directing new loans mainly to the biggest, top-tier private market firms, and are distancing themselves from smaller managers and those with heavy exposure to Australia's property sector while largely maintaining existing commitments, the report said.
Judo Bank (ASX:JDO) has also become careful in choosing lending deals with private credit funds, the report said.
Goldman Sachs and UBS Group did not immediately respond to MT Newswires' requests for comment.
(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.)
