"Rowan said the book is an attempt to clarify the confusion he sees mounting over the definition of private credit, which he attributed to the "media-ization of financial markets." "One of the things that's been frustrating to us is that we have this term private credit," Rowan said. "No one actually knows what it means, and everyone uses it differently.""
"This Christmas gift comes after the high-profile bankruptcies of Tricolor Holdings and First Brands, and JPMorgan CEO Jamie Dimon's assertion that there may be more credit "cockroaches." His comments sparked a firestorm over private credit's risks, which had everyone from the head of the International Monetary Fund to the chair of UBS weighing in against the burgeoning asset class."
Marc Rowan will release a definitive book on private credit as a Christmas gift and will make it available on Apollo's website. The book aims to clarify mounting confusion over what private credit means, a confusion Rowan attributes to the "media-ization of financial markets." The announcement follows high-profile bankruptcies at Tricolor Holdings and First Brands and JPMorgan CEO Jamie Dimon's warning about more credit "cockroaches," which intensified scrutiny of private credit risks. Industry leaders have responded with op-eds and public statements to defend the asset class and counter perceived misconceptions.
Read at Business Insider
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