Chart of the day: What is private credit?

There's a relatively new asset class that's been attracting billions of dollars private credit bank and giants putting together over $50 billion into private credit in recent months.Headlines have been piling up when it comes to private credit, including that report that you mentioned B Bloomberg today saying that the largest banks, including the likes of Goldman Sachs and City Wells Fargo, have indeed raised about $50 billion of raised or committed capital to put into private credit.

Just like you have private equity where firms like Blackstone and our parent, Apollo, raise money to invest into companies? He said there could be hell to pay, for example, if retail investors got into these instruments without fully understanding them.For several years, he talked about a granny, a theoretical granny, if she put her money in here, couldn't get it back.Maybe there could be a run on the fund or an attempt to run the fund.He Al also talked about bad actors in this industry, but he said that seems like the minority for now.

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