Egan-Jones Probe Puts Private Ratings Under Microscope
SEC scrutinizes firm with key role in grading non-public debt
Paul Atkins, chairman of the US Securities and Exchange Commission
Photographer: Stefani Reynolds/BloombergThis article is for subscribers only.
Welcome to Going Private, I’m Sinead Cruise and this is Bloomberg’s twice-weekly newsletter about private markets and the forces moving capital away from the public eye.
Today, we’re bringing you a word of caution on the private equity rush for retail money, some clashing views on the data center funding frenzy and news on how private credit’s beloved PIK structures are seeping into mainstream finance. But first, we explore the SEC examination of Egan-Jones’ private debt ratings machine.