Marc Rowan on PE - any merit in his argument?
Over the last few months, Rowan has been absolutely crapping on other Corporate PE/Credit Funds for their software exposure and, in essence, keeps saying that looking forward, PE won't be doing too good.
He's also been on various platforms talking about how a lot of the worries about Priv Credit - originating from some cases of distress in the space - are unfounded because it's not a systematic issue, it's just bad underwriting discipline from some GPs.
I get a lot of this is IR stuff, since he basically has to push heavy for credit with the direction APO is going but do you think these two points have merit? Talk about underwriting discipline is real rich coming from him but I do kinda agree.
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