NEW YORK: Wall Street banks including JPMorgan Chase & Co and Goldman Sachs Group Inc are looking to start trading private credit loans, Bloomberg News reported on Wednesday, citing people familiar with the matter.

The banks are among the firms talking to private debt funds about facilitating secondary-market transactions, according to the report.

JPMorgan declined to comment, while Goldman did not immediately respond to a Reuters’ request for comment.

Private credit is financing provided by a lender other than a bank, such as an investment fund. Investments in the asset class across emerging and developing markets surged to record levels in 2022 as borrowers looked for alternative financing options amid rising interest rates.