Defaults on private loans, which have fallen steadily since the pandemic's height in 2020, are ticking up.
Private credit, or private debt, are catch-all terms to describe privately negotiated loans outside the public debt markets.
Private credit firms engage in what's known as direct lending, making these private loans to companies who turn to them instead of a traditional bank.
Analysts and asset management executives say private debt has held up well in 2022 in the face of brutal stock and bond market volatility.
'Fighting for allocation'A challenge for private debt funds in the past decade has been a dearth of companies they can lend to.
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The flow of capital motivated more investors to split from established firms and raise their own funds, but it hasn't always been easy.
For years they've gone abroad to raise capital from limited partners, mostly wealthy individuals and family offices.
This isn't new territory for international investors.
He continues to use his personal wealth to back startups and venture funds mostly stateside, including Sequoia Capital, Andreessen Horowitz, and Brianne Kimmel's Worklife Ventures.
Even those with ties to international investors may struggle to raise funds as fears of a global recession escalate.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRaymond James: Aggressive Fed poses risk to credit and liquiditySunaina Sinha Haldea, global head of private capital advisory at Raymond James, discusses the impact of central bank action on equities and the bond market.
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He stepped away from day-to-day activities at Apollo Global Management — the private-equity firm he co-founded — in May last year.
Josh Harris upset Apollo insiders with the amount of time he spent on personal investments.
During meetings for Apollo matters, Harris would sometimes take phone calls unrelated to the company, one person told Insider.
Harris would also use Apollo employees to help on personal investments.
People who worked on Harris' personal investments became "untouchable" within the organization.