Everybody’s Going Into Private Credit Now
But what do those words mean? Plus: The risk in staking your co-workers.
Watch where the Wall Street crowds are headed.
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Wall Street’s magic is in finding new ways to make money. Although we talk a lot about the surge in private credit in this newsletter, I’ll steal a line from Marc Rowan, the chief executive officer of Apollo Global Management: “We actually have no idea what the words ‘private credit’ mean. They’re just two words that will follow each other.”