As Tide Goes Out on Private Credit, Smaller Firms Look Exposed
- Their share of industry’s cash haul shrank to record low
- Better-capitalized firms poised to swallow up small rivals
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The clubby world of private credit seems to be running out of space for the little guy.
As the rush of money into Wall Street’s hottest market slows, life is getting especially hard for firms that already oversee a smaller amount of capital.