

Is Private Credit the Next 2008?
Private credit has quietly grown into a $3 trillion industry, and it's starting to show cracks.
Unlike traditional bank lending, private credit operates in an opaque corner of the financial world, where private equity firms and non-bank companies lend to businesses that banks consider too risky.
For years, the model boomed. But recent high-profile bankruptcies, a wave of investor redemptions, and steep stock declines at firms like Blue Owl, KKR, Apollo, and Blackstone have raised urgent questions about what happens when confidence breaks down.
JPMorgan CEO Jamie Dimon put it bluntly: "When you see one cockroach, there's probably more."
The risks don't stop at Wall Street. U.S. banks have lent approximately $300 billion to private credit companies NPR.
Moreover, many everyday investors have exposure through mutual funds and 401(k)s without knowing it.
Join The Street Sheet for a candid conversation with Max Sabert, CFP®, CEPA®, Senior Vice President and Private Wealth Advisor at UBS, as we break down what's actually happening in the private credit market, what it means for your portfolio, and whether this is a buying opportunity — or a warning sign.
What we'll cover:
What private credit is and why it exploded in popularity
The warning signs emerging right now and who's most exposed
How this compares (and differs) from the 2008 financial crisis
What investors should be doing to protect themselves
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