Morgan Stanley expects direct lending default rates to reach as high as 8%.
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Goldman Sachs said roughly 80% of the direct lending market is held in vehicles that typically don't allow investors to redeem…
Default rates are elevated and credit managers are getting creative.
Leverage levels in private credit are a point of focus
A "robust and growing" private credit secondaries market could serve as a pressure valve for the industry's current liquidity…
Recent pain points are significant but belie key differences between now and the great financial crisis.
Mike Mayo noted that JPMorgan has had revenue growth roughly twice that of the industry this decade, reducing any need to stretch…
