SMH
·general
·3 hours ago
Private credit’s ‘naked swimmers’ are surfacing
Private credit funds have seen an accelerating rush for exits since last year, driven by fears of weak underwriting standards and the impact of artificial intelligence. Major asset managers like Blackstone and KKR are facing restricted redemptions to avoid firesales of illiquid assets. Regulators, including the US Federal Reserve, are concerned about potential contagion risks to the broader financial system.
Summary by Glance · SMH
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