Private credit is “not a bubble”, Apollo Global Management president Jim Zelter has said, adding that he did not think adverse economic conditions would trigger “massive losses” in a sector that has witnessed rapid growth in recent years.
Speaking at HSBC’s investment conference in Hong Kong on Thursday, Zelter was asked how private credit would perform in an economic downturn.
“The biggest question I get from everybody around the globe is, is private credit a bubble?” said Zelter. “And I would say it’s not a bubble, but it’s certainly been long in the tooth in the cycle.
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