Blackstone Says Private Credit Market May Surge 20-Fold

Michael Zawadzki, global chief investment officer for Blackstone Credit, says the $1.7 trillion private credit market may soar beyond $25 trillion or even $50 trillion as yield-hungry investors plow capital into multiple categories of direct lending. He speaks with Sonali Basak on "Bloomberg Markets."
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[@skyak4493]

Post GFC big banks have become wards of the state, content to shuffle money between the government and consumers under FDIC guarantee. Basil 3 will complete their irrelevance.
Private credit is taking over because it can customize the covenants. Rates and risks are lower because defaults are worked out faster and cheaper.

[@user-wr4yl7tx3w]

Talk about talking his book. Hardly unbiased. May be those who are so tainted should just keep their mouth shut instead of going on Bloomberg and pretend they are objective

[@jimbojimbo6873]

Hopefully default rates go up

[@Only4hands]

Hopefully this will push everyday consumer banks to lower their margin on interest in order to remain competitive against private equity banks

[@andrewereynolds5840]

💎 Ares Capital Markets (ARCC) 💎

[@sirus312]

The pumping is insane. Makes you wonder that the market is stretching for new money…. New money isn’t arriving