JPMorgan’s Super-Sized Checks Are Blowing Away All Other Lenders

For all the talk of a turf war between banks and private credit, JPMorgan Chase & Co. is dominating on the field — with giant checks that only the biggest US bank can write.

Time and again, the firm has overwhelmed private credit managers and Wall Street rivals with substantial financing packages to win coveted debt deals. First it led an $8 billion effort for 3G Capital’s acquisition of Skechers. Then it stepped up $17.5 billion to help Warner Bros. Discovery Inc. split itself in two.

But the most audacious of all was JPMorgan’s $20 billion check for the acquisition ...