Dec.10 -- Private credit has boomed globally as banks have pulled back from lending to smaller, potentially more vulnerable companies. The private credit market has expanded to $787.4 billion, from just $42.4 billion in 2000, according to London-based research firm Preqin. Family offices - mini-investment firms set up by the super rich to manage their personal wealth - have poured more and more cash into direct lending, Preqin says. Bloomberg's Kelsey Butler and Lisa Abramowicz discuss the trend.
Super-Rich Families Pour Into $787 Billion Private Debt Market
Dec.10 -- Private credit has boomed globally as banks have pulled back from lending to smaller, potentially more vulnerable companies. The private credit market has expanded to $787.4 billion, from just $42.4 billion in 2000, according to London-based research firm Preqin. Family offices - mini-investment firms set up by the super rich to manage their personal wealth - have poured more and more cash into direct lending, Preqin says. Bloomberg's Kelsey Butler and Lisa Abramowicz discuss the trend.
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