How the Private Credit Crunch Is Raising New Questions About Risk

Private credit has exploded in recent years, drawing in major institutions and alternative asset giants, and even featuring more heavily in retail portfolios. But as cracks emerge in parts of the private credit space, we take a look at how the benefits of non-bank lending could be turning into vulnerabilities. Apollo's Marc Rowan points to the broad appeal of private lending to institutions, while former Goldman Sachs CEO Lloyd Blankfein and former Federal Reserve Board Governor Daniel Tarullo worry about the harm it could cause for retail investors.