Citigroup Discloses $22B Private Credit Exposure with Zero Losses
Citigroup reported $22 billion in private credit exposure in the fourth quarter with no losses to date, part of its $118 billion non-bank financial portfolio. Less than 1% of these loans are tied to business development companies within this broader portfolio.
1. Citigroup’s Private Credit Exposure
Citigroup reported $22 billion of private credit exposure in Q4, reflecting growth in its non-bank financial lending. This exposure is part of a larger $118 billion portfolio targeting asset managers, funds and specialty finance firms.
2. Portfolio Composition and BDC Ties
Within its $118 billion non-bank portfolio, less than 1% of loans are tied to business development companies. Key sectors backing these loans include business services, software and healthcare.
3. Loss Protections and Credit Quality
The bank has recorded zero losses on its private credit book to date, citing structural protections. Loan agreements include margin adjustment rights and cushion thresholds — typically around 40% — before recognizing losses.