Hedge fund billionaire Ken Griffin has questioned whether wealthy individuals truly understand the risks of investing in private credit and warned that they might struggle to access their money in the event of a downturn.
Griffin, founder of $67bn hedge fund Citadel and trading firm Citadel Securities, is the latest high-profile financier to weigh in on the fate of the private credit industry, which has been hit by investor redemptions and fears over bad loans.
The sector — typically comprising investment funds that make direct loans to private equity-owned companies — has exploded in popularity over the past decade as many banks retrenched their commercial lending businesses due to stricter regulations.
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