Family offices love private credit, but is the market about to burst?

Hopes that the US economy will achieve a soft landing may be fleeting, but they have cheered up the billionaires who created a 15-year boom in private credit, whose value has risen sevenfold to $1.4 trillion

As interest in private assets grows, veteran consultant Richard Ennis has beefed up his warning that alternatives have undermined the performance of endowments since the 2008 credit crisis

In 1992, just over thirty years ago, lenders were stunned by the collapse of property giant Olympia & York, owned by Canada’s Reichmann family, following its failure to service debts of $20 billion.