Breakdown: Private credit’s main threat is itself

Golub Capital BDC

07/07/2022 15:59

(The authors are Reuters Breakingviews columnists.  The
opinions expressed are their own.)
    By Jonathan Guilford and Neil Unmack
    NEW YORK, July 7 (Reuters Breakingviews) - Direct lenders
like Ares or Apollo are displacing banks and investors when
funding buyouts. Breakingviews explains how more flexible and
generous lending terms helped these upstarts grab market share.
As credit markets turn, the $1.2 trln industry’s success could
be its weakness.
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 (Column by Jonathan Guilford in New York and Neil Unmack in
London; Editing by Peter Thal Larsen and Sharon Lam)
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