The Big Take
Why People Can’t Stop Talking About Private Credit
On today’s Big Take podcast, we look at how private credit funds got so big — and the questions their loan valuations raised when reporters started digging.
The US Securities and Exchange Commission headquarters in Washington, DC.
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Private credit funds are having a moment. Once under-the-radar lenders that did deals with riskier clients, the firms have gotten a lot more popular as interest rates have climbed. But private credit funds are also under a lot less oversight than traditional lenders, allowing little transparency into the way they value their loans. And all this new-found attention is starting to come with heightened scrutiny.