(HedgeCo.Net) The private credit boom has reached a critical inflection point. For the first time, publicly registered non-traded business development companies, or BDCs, returned more capital to investors than they raised in new subscriptions during a quarter. That reversal is more than a statistical milestone. It is a warning sign that the retail private credit machine, one of the fastest-growing engines in alternative asset management, is facing a confidence test.
According to Robert A. St...
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