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Bank Lending to Private Equity and Private Credit Funds: Insights from Regulatory Data

Author

Listed:
  • John Levin
  • Antoine Malfroy-Camine

Abstract

In this note, we examine large banks’ lending to private equity (PE) and private credit (PC) funds. Using a manual matching algorithm, we estimate that large banks’ total loan commitments to PE/PC fund sponsors are approximately $300 billion, or 14 percent of their total loan commitments to non-bank financial institutions, as of 2023, up from around $10 billion, or about one percent, in 2013.

Suggested Citation

  • John Levin & Antoine Malfroy-Camine, 2025. "Bank Lending to Private Equity and Private Credit Funds: Insights from Regulatory Data," Supervisory Research and Analysis Notes, Federal Reserve Bank of Boston, issue 2025-02, pages 1-18, February.
  • Handle: RePEc:fip:b00001:99533
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    File URL: https://www.bostonfed.org/publications/supervisory-research-and-analysis-notes/2025/bank-lending-to-private-equity-and-private-credit-funds.aspx
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