Pensions Go ‘Exploring’ In Exciting World Of Opaque, Illiquid Private Credit

It's time pension funds pile into direct lending! Because absolutely nothing could go wrong with funneling billions of dollars of other people's retirement money into private credit. As regular readers know, we are not predisposed to rolling out tired, old "what could go wrong?" cliches. "What could go wrong?" is a joke you use when your creative writing skills have failed you. And yet, sometimes, that joke is appropriate. This is probably one of those times. Consider this, from a Bloomberg a