JPMorgan Seeks to Grow in Buyouts After Rivals Lost Billions
- Bank avoided high profile LBO turkeys including Twitter
- Bank wants more market share, but no ‘kamikaze’ deals
This article is for subscribers only.
JPMorgan Chase & Co. is on the hunt for buyouts to lend to and is hoping to gain market share in leveraged financing after avoiding the dozens of clunkers that have cost competitors billions of dollars.
Executives across JPMorgan made a decision last year to cut back on risk in leveraged finance, a choice that surprised customers and competitors. That decision helped the bank avoid losing money from big buyouts like Citrix Systems Inc. and Twitter Inc., and now gives it more capacity to pivot.