Feb 24 (Reuters) - JPMorgan Chase JPM.N said on Monday it was setting aside another $50 billion for its direct lending push, as the Wall Street giant looks to expand its foothold in the rapidly growing private credit market.

Traditional lenders such as JPMorgan, Citigroup C.N, and Wells Fargo WFC.N are rushing to grab a bigger slice of the booming market that has been dominated by private capital providers.

The asset class is expected to expand to $3 trillion by 2028, reflecting stronger momentum than in the past two years, according to Moody's.

JPMorgan, since 2021, has already deployed over $10 billion across more than 100 private credit transactions serving corporate and sponsor clients, the bank said.

It has also tied up with multiple co-lending partners that have allocated nearly $15 billion more to the private credit push.

"Pairing our vast origination platform with our lender client base has supercharged our ability to deliver in size for borrowers and increased deal flow for lenders," said Kevin Foley, global head of capital markets at JPMorgan.

Banks have increasingly also joined forces with investment firms to further their push into the private credit market.

Citigroup last year teamed up with asset management giant Apollo APO.N for a $25 billion private credit platform, while Wells Fargo in 2023 partnered with investment firm Centerbridge Partners on a $5 billion direct lending fund.

(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Vijay Kishore)

((ArasuKannagi.Basil@thomsonreuters.com;))