What on earth is happening in private credit?
I'm honestly surprised there is not a lot of talk here. But the whole financial press (i.e., WSJ/FT) is full of articles about troubles in private-credit. See something popping up nearly everyday.
The main point is basically simple ... PC funds lend to (shitty) mid-market Cos -> no equity upside but credit risk -> PortCos in trouble -> default. Why is this news?
How is the morale on the inside?
Probably no talk of it in here because anyone who works in it in here is nervous about their job.
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