Wall St underestimates private capital problems, says top credit hedge fund
Davidson Kempner’s Tony Yoseloff warns a substantial portion of PE firms are already “stressed or distressed”
Davidson Kempner’s Tony Yoseloff warns a substantial portion of PE firms are already “stressed or distressed”

Firms like Apollo find it hard to shake narratives formed by legacy private equity and distressed debt operations

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

Fundraising by evergreen vehicles has slowed amid worries about exposure to software and AI

More frequent asset valuations can boost market resilience and investor confidence

The sector remains untested in a severe or prolonged economic downturn

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