Wells Fargo Deepens Private Equity Lending Push With New Team

Wells Fargo & Co. — nearly two years after starting a venture with Centerbridge Partners— is building out another new hook to the bank’s lending machine: offering loans to smaller private equity shops.

The bank has formed a mid-cap sponsor group in its commercial banking business, led by Tucker Sampson, the managing director spearheading the initiative who joined the firm last year from Bank of America Corp.

Lending to middle-market private equity shops, and in turn their portfolio companies, has been part of the tug of war between banks and private credit firms. Tighter regulations after the financial crisis ...