Private credit’s public reckoning

私人信贷的公共清算

Behind the Money

2026-03-25

27 分钟
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单集简介 ...

After years of fast-paced growth, private credit is facing intense scrutiny. In recent months, investors have made requests to withdraw billions of dollars from the $2tn sector’s funds. The FT’s US private equity and deals editor Antoine Gara and US investment editor Eric Platt explain how we got to this critical moment, and what may be next for this pocket of Wall Street.     Clips from Bloomberg, CNBC, Fox Business, JPMorgan, US Federal Reserve  The FT does not use generative AI to voice its podcasts. - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading: Retail investors pull billions from private capital’s credit gold mine Wall St underestimates private capital problems, says top credit hedge fund Private credit’s game of footsie is getting riskier  - - - - - - - - - - - - - - - - - - - - - - - - - -  Follow Antoine Gara on X (@AntoineGara) and Bluesky (@antoinegara.bsky.social). Eric Platt is on X (@ericgplatt) and Bluesky (@ericgplatt.ft.com). Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.ft.com), or follow her on LinkedIn for updates about the show and more.  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
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单集文稿 ...

  • Hi, listeners.

  • It's Michaela.

  • Before we get into this week's show, I want to share some important news.

  • Next week will be Behind the Money's final episode.

  • Every week for almost four years now, I 've had the opportunity to bring the best-in-class corporate and financial reporting

  • from my FT colleagues to your ears.

  • And it has been an absolute privilege and a highlight of my career thus far to do that.

  • I hope you've enjoyed listening as much as I've enjoyed making this show.

  • I'll say a little more on all this next week.

  • But until then, on to this week's episode.

  • And thank you for listening.

  • My colleague Eric Platt has covered a range of topics at the FT, from asset management to M&A.

  • And right now, he's our U.S. Investment editor.

  • And in that role, he tells me that the bulk of what he reports on is n't often the topic of conversation when he 's,

  • say, out with friends.

  • I cover Berkshire Hathaway.

  • People are normally really curious how Warren is doing.

  • They're never asking me what's happening at Apollo or Aries or KKR.

  • They're never asking me about private credit returns and whether software loans are going to go bad.

  • But recently, the people in his life seem to keep bringing up the same topic.