Insights
The Meteoric Rise of Private Credit Funds
(Originally Aired on Bloomberg Radio)
Eugene Grinberg, Co-Founder and CEO of SOLVE, with Tom Keene and Paul Sweeney on Bloomberg Radio. He explained where the private credit business fits into the fixed-income landscape and whether SOLVE is wary of a potential bubble within the booming asset class.
“…if you look at Silas’s story, right, where they dug into the data, you have where the same loan is sitting in multiple investment vehicles. You have this disparity in opinion, which is over 40 points. You have a situation where three-quarters of loans that are in PIK, that are payment-in-kind, are still priced north of 95. So how’s that possible? Clearly there’s significant credit deterioration in the PIK loans, and it’s hard to see reality, it’s hard to see behind the curtain.”
