Personal equity assets have increased sevenfold since 2002, with annual deal task now averaging well over $500 billion each year. The common leveraged buyout is 65 % debt-financed, producing a huge upsurge in interest in business financial obligation funding.
Yet just like personal equity fueled a huge escalation in interest in business financial obligation, banks sharply restricted their contact with the riskier areas of the business credit market. Continue reading “High-Yield Ended Up Being Oxy. Private Credit Is Fentanyl.”