Private credit firms sell debt to themselves at record rate
Private lenders struck continuation deals worth $15bn last year to generate cash amid deal drought
Private lenders struck continuation deals worth $15bn last year to generate cash amid deal drought

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

So-called continuation vehicles set to account for a fifth of sales by the sector in 2025

Lack of transparency of debt popular with US insurers increases risk of ‘fire sales’, report says

Lending booms in developing economies even as US industry struggles following collapse of First Brands

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

The sector remains untested in a severe or prolonged economic downturn