JPMorgan Chase (JPM) is making a big move in private credit with a $50 billion push into direct lending. This plan aims to help private

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.

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 CEO Jamie Dimon just sold a massive amount of his company’s stock. New SEC filings show Dimon sold a total of 866,361 shares at a price of $269.83 on Thursday, worth a whopping $233.77 million.

JPMorgan Chase will continue its diversity efforts, its CEO Jamie Dimon said in an interview with CNBC on Monday, despite a broader corporate retreat from such initiatives.