United States

Shadow Banking: Rising Opportunities in the Private Middle Market

Oct 10, 2013
From the Advisory Institute and the Global Enterprise Institute

Shadow banking—defined as multiple forms of nonbank lending—grew enormously in the decades leading up to the 2008 credit crisis.

Since the crisis, regulators and others continue to tackle the large-scale structure of the shadow banking industry as well as the large nonbank lenders. However, the financial markets continue to evolve and are actively innovating new private financings for middle market companies.

These types of private transactions constitute one of the more viable and dynamically reemerging elements of the U.S. financial markets where capital finds its way to those commercial enterprises that legitimately need it, but have trouble obtaining it due to structural, regulatory and other impediments.

Many believe that the non-commercial institutions are helping revive the global economy slowly and steadily, as in 2011 the United States alone has the largest shadow banking systems with assets totaling $23 trillion dollars.

This paper provides a full scale spectrum of how shadow banking has shaped the new private middle market lending landscape and opportunities it’s created.


Read Shadow Banking: Rising Opportunities in the Private Middle Market


To learn more about the opportunities within middle-market lending, please contact:

Jeremy Josse
Head of Financial Institutions Group
KPMG Corporate Finance LLC