Credit Edge: PGIM Sees Private Debt Chill in BDC Storm (Podcast)
Business development company turmoil is making direct lenders cautious on corporate debt risk, according to PGIM, which oversees more than $200 billion in private credit. “It’ll have a bit of...
By Mariam Traore · Bloomberg
Business development company turmoil is making direct lenders cautious on corporate debt risk, according to PGIM, which oversees more than $200 billion in private credit. “It’ll have a bit of a chilling effect,” Matt Harvey, the firm’s global head of middle-market direct lending, tells Bloomberg News’ James Crombie and Bloomberg Intelligence’s Matthew Geudtner in the latest Credit Edge podcast. “As a lender you’re a little bit more conservative, you’re a little bit more rational in terms of your