‘Accidents waiting to happen’ in private credit, says Wellcome Trust

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Financial Times 1d ago

‘Accidents waiting to happen’ in private credit, says Wellcome Trust - Financial Times

Quick Summary:

Moakes, who will retire from the Wellcome Trust at the end of March, was speaking as the foundation reported results for the 12 months to September 30.The trust gained 15.6 per cent in US dollar terms, although in sterling terms the return was 5.2 per cent because of the strength of the pound.

KBRA estimates that the default rate in the private credit market will jump to 3 per cent in 2025, up from 1.9 per cent at the end of last year.

That has meant that the lending standards that are applied in certain parts of private credit markets have diminished,” he said.“It’s great for private equity borrowers,” he said.