- Private credit has surged in popularity since post-financial crisis regulations discouraged banks from serving riskier borrowers.
- JPMorgan Chase CEO Jamie Dimon warned after a pair of private credit-backed companies declared bankruptcy that problems in credit are rarely isolated.
- Companies that are most linked to the asset class, such as Blue Owl Capital, as well as alternative asset giants Blackstone and KKR, are trading well below their recent highs.