Private Credit Faces Worst Reckoning Since ‘08, NY Life CIO Says
- Risks include inflation and recession, Jae Yoon says
- Davidson Kempner warned about rising private credit defaults
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The private credit market is set to face a “reckoning moment” and a period of difficulty it hasn’t seen since 2008 amid risks of inflation and recession, according to Jae Yoon, chief investment officer of New York Life Investment Management.
Yoon, who is also responsible for developing the $727 billion money manager’s operations in Asia, made the comments on a panel at the SuperReturn Asia conference in Singapore on Tuesday.