JPMorgan Marks Down Private Credit Collateral

JPMorgan Chase is reducing exposure to the private credit market by marking down the value of loans held as collateral, the bank told people familiar with the moves and the Financial Times reported. The markdowns chiefly affect loans to software firms within JPMorgan's financing business that provides back-leverage to private-credit managers. The preemptive adjustment reduces borrowing capacity and could force additional collateral postings for some funds.