Money manager Danny Moses, immortalized in The Big Short, said private credit and private equity firms’ push into retail products reminds him of the years preceding the subprime mortgage crisis.
The comments, made Tuesday during a panel at the iConnections Global Alts conference in Miami Beach, Florida, come as business development companies — funds that pool direct loans — face a surge in redemptions amid growing concerns over lending standards. Private capital firms have begun to more aggressively court individual investors in recent years, fueling worries that a wave of withdrawals from mom-and-pop savers could strain a market ...
