Despite the existence of pockets of stress that are prompting investors to exercise greater caution regarding private credit, BWC Member Sarah Hirsh, asserts that these developments are not systemic. Instead, she believes that we could be in the final stages of a credit cycle. In a new publication with Lauren Goodwin, Julia Hermann, and Michael LoGalbo, she claims that the economic environment remains stable. However, during the next phase of the cycle, the results will differ more across investments, which will require investors to be more selective.

To continue reading, click here.

All views expressed by members are their own and not reflective of the views of the Bretton Woods Committee.