The 'private credit' market is showing signs of serious trouble, and if you're buying the stuff, you want to look again. Hard.
The private credit boom is facing a new test after Blue Owl Capital permanently restricted withdrawals from one of its retail-focused debt funds....
...The biggest portion of the sale came from a semi-liquid private credit fund marketed to U.S. retail investors called the Blue Owl Capital Corporation II, which will stop offering quarterly redemption options to investors...
IOW, it's like Hotel California there.
Who else pushes these investments onto their retail investors?
KKR, ARES, Apollo, and Blackstone.
Kinda cements what we've thought about those outfits for a long time......
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