Is private credit becoming the next subprime crisis?
Investors need to consider whether they are getting sufficient additional returns for the risks that debts issued by unregulated non-bank lenders present.
In front of 500 people on Thursday, I locked horns with the king of private credit Andrew Lockhart – founder of the $20 billion fund manager Metrics Credit Partners – in a debate about the relative merits of public and private debt.
It was billed as the “killer versus the gorilla”, although I am not sure who was who! The exit poll scored 69 per cent in favour of public credit.
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Christopher Joye is a portfolio manager with Coolabah Capital, which invests in securities, including those discussed in his column. Connect with Christopher on Twitter.
