Citigroup Reports $22 Billion of Private-Credit Exposure

Citigroup Inc. said its exposure to private-credit firms was $22 billion in the fourth quarter, offering a look at what has become a closely watched development by investors.

The loans are part of the bank’s portfolio of lending to financial firms other than banks, which totaled $118 billion at the end of last year, Citigroup said Tuesday in a presentation. The bank also said its corporate private-credit warehouse financing has “substantial equity cushions” as well as structural protections to help the firm weather any major stress.