Rowan says most private credit is investment grade, contrary to financial press focus on levered lending.
“In much of the financial press, private credit means levered lending, a below investment grade deal related activity.”
Rowan says media focuses on $2 trillion of levered lending, ignoring the broader $40 trillion private credit market.
“What we spend all our time talking about on the press is $2,000,000,000,000 of $40,000,000,000,000 which should properly be called levered lending.”