Marks admits he didn't foresee private credit growing from zero to $1.7 trillion in fifteen years.
“I didn't foresee the growth of private credit, which the part of private credit which loans money for mid sized buyouts we call direct lending.”
Marks reports roughly 700 direct lending managers now manage $1.7 trillion in a favorable economy that made many extremely successful.
“So the the the And the availability of that $1,700,000,000,000 put a lot of people into business and made a lot of people extremely successful along with a very favorable economy”