Defaults on art-backed loans soar in struggling market
Decline triggers return of ‘loan-to-own’ lenders aiming to take control of pieces cheaply through defaults
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Investors warn on leveraged loan risks after First Brands collapse
Rapid growth of $2tn market has led to hastily done deals and hurried due diligence, say fund managers
Private credit firms pile into consumer debt as risk-taking mounts
Growth raises concerns about underwriting and risk management at fast-expanding groups
Non-bank lenders may be fair-weather friends
Research shows they don’t just retreat in a crisis — they run for the exit
Investors ditch private credit funds on rising worries over bad loans
Publicly traded vehicles are trading at steep discounts in gloomy sign for broader industry
First Brands rescue loan tumbles in value as bankruptcy drags on
Debt intended to stabilise the auto parts maker has fallen sharply to trade at about 70 cents on the dollar
We must be mindful of the risks of private credit
The sector remains untested in a severe or prolonged economic downturn