The Private Debt Market and the Shadow Banking System

A lot of private debt that's been raised in recent years has flowed into smaller types of companies than we would normally associate with KKR, barbarians at the gate. We've also had private debt, I think it's 1.4 or 1.5 trillion dollar market that really didn't exist in 2000. And last year in the fourth quarter, when the biggest investment banks could not do syndicated lending, the private debt market stepped in. So not only are they inappropriately on Main Street, but they're making loans that they also, it's also not appropriate that they make.

Transcript

Play full episode

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!

Get the app