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The 'Tsunami' of Private Credit Dragging Wall Street
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J.P. Morgan's president, the world's largest bank for stock capitalization, Jamie Dimon, raised a hare in his annual letter that had been released on Wall Street for several weeks: the banker said losses in the private debt sector will be "greater than expected." In this way he spoke about the existing storm around private debt funds of asset management giants such as BlackRock, Apollo, Ares Management or KPR, who raise specific vehicles to fina…
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