In a tough year, private credit bosses are pointing fingers
Firms like Apollo find it hard to shake narratives formed by legacy private equity and distressed debt operations
Firms like Apollo find it hard to shake narratives formed by legacy private equity and distressed debt operations

The sector remains untested in a severe or prolonged economic downturn

Recent ructions highlight the case for better scrutiny of the asset class

Growth raises concerns about underwriting and risk management at fast-expanding groups

What matters most is how capital was deployed and underwritten

Investors question if some institutions rubber-stamp deals that could benefit other businesses

Publicly traded vehicles are trading at steep discounts in gloomy sign for broader industry