Arougheti Calls 15% Private Debt Default Forecast ‘Wrong’ (1)

A forecast last week from UBS Group AG analysts that private credit default rates could reach 15% was “absolutely wrong,” Ares Management Corp.’s Chief Executive Officer Mike Arougheti said.

“It was actually irresponsible,” he said in an interview Tuesday at the Bloomberg Invest conference. “This is part of the problem when you have someone who’s actually never been in a segment of the market making commentaries” about default outlooks.

Read More: Private Credit Fears Deepen With UBS Warning of 15% Defaults

The 15% rate represents the UBS analysts’ worst-case scenario, which would only take place if artificial intelligence triggers ...