Private credit’s ‘zero-loss fantasy’ is coming to an end as defaults and fund exits rise
[ad_1] Deteriorating asset quality, collateral markdowns and a growing rush for the exits are rattling private credit markets and prompting comparisons to the Global Financial Crisis. But a spike in loan defaults, while painful, could help shake out pockets of stress from the $3 trillion sector and provide what one industry pro calls a “healthy […]
Investors poured billions into private credit. Now many want their money back
[ad_1] The rush for the exits in private credit is prompting fresh scrutiny of the sector’s less-liquid structures and its rapid expansion into the retail wealth space. Blackstone has become the latest fund manager to be hit by a surge in requests from investors to withdraw from its flagship private credit strategy. The asset manager […]
Blue Owl curbs investor liquidity following asset sale, shares slide almost 6%
[ad_1] Shares in Blue Owl Capital tumbled almost 6% on Thursday after the private market and alternative assets manager sold $1.4 billion of loan assets held in three of its private debt funds. Blue Owl said Wednesday it had agreed the sale with four North American pension and insurance investors, with the loans changing hands […]