08:56 AM EDT, 07/14/2025 (MT Newswires) -- JPMorgan Chase ( JPM ) chief executive officer Jamie Dimon says the market could mirror the risks that led to the 2008 financial crisis, but he is investing billions of dollars into private credit, the Wall Street Journal reported Sunday, citing people who were present at an event in February, quoting Dimon.

At a February client event, Dimon likened parts of direct lending to the subprime mortgage bubble, noting some lenders use questionable practices that could trigger broader financial instability, the report said. JPMorgan ( JPM ) had announced it was investing $50 billion in private credit, the report added.

The bank had exited the space in 2015 when it spun out its private-lending unit, now called HPS Investment Partners, which manages more than $157 billion and was later acquired by BlackRock ( BLK ) for $12 billion, the Journal report said.

The bank's new approach allows dealmakers to offer loans directly without requiring separate approvals, and JPMorgan ( JPM ) has already allocated $10 billion under the strategy, the report said.

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