The firms aim to carry on deals worth up to 500 million US Dollars with North American companies with an above 50 million ebitda
US alternative asset manager General Atlantic and Swiss Bank UBS are in advanced talks for signing a strategic partnership for the private credit sector, Bloomberg reported. The item pointed out that UBS Sergio Ermotti and General Atlantic ceo Bill Ford are discussing the deal.
The partnership terms would grant UBS with the role of originator for the financing deals that General Atlantic’s unit GA Credit would assess. The firms aim to support US and NorthA American companies with an above 50 million US Dollars ebitda with tickets of up to 500 million.
Tripp Smith, the co-founder of Blackstone Credit (fka GSO Capital Partners), is the ceo of GA Credit whose assets under management worth 4.8 billion US Dollars. UBS aims to take advantage of the banking credit crunch trend that is favouring alternative asset manager.
In 2024, Barclays Plc and AGL Credit Management signed a similar joint venture with similar features as UBS and GA Credit partnership and created AGL Private Credit with the support of Abu Dhabi Investment Authority (ADIA) (press release). In 2023, Société Générale and Brookfield Asset Management launched a 10 billion euros private debt fund (press release).
In February 2025, JPMorgan said it committed to invest 50 billion US Dollars of its own resources and 15 billion of co-sponsors (see here a previous post by BeBeez). In October 2024, Bloomberg quoted sources as saying that FS Investments, Cliffwater, Shenkman Capital Management, Octagon Credit Investors, and Soros Fund Management could pour 10 billion is such a strategy. In September 2024, Citi, Apollo Global Management and its subsidiary Athene signed a partnership for investing 25 billion initially North American direct lending deals with the support of Abu Dhabi’s Mubadala Investment Company (press release). In 2023, Wells Fargo & Co. and Centerbridge Partners launched a 5 billion direct lending fund (press release).
