Watchdog Calls Out SRT ‘Circles of Risk’ as Banks Hunger for Default Protection
Lenders may be layering risk upon risk by funding investors who insure bank loans against default
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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 look at the public market alternatives some money managers are offering jittery BDC backers, and what some of the industry’s biggest names had to say at the 2026 Milken Institute Global Conference. But first we explore some sobering regulatory opinions on private credit’s biggest flaws. If you’re not already on our list, sign up here. Have feedback? Email us at goingprivate@bloomberg.net
The world’s top financial watchdog has a bone to pick with the private credit industry. In fact, it has plenty.