Welcome to Going Private, I’m Sinead Cruise and this is Bloomberg’s twice-weekly newsletter about private markets and the forces moving capital away from the public eye. Today, we explore the latest worries keeping private credit investors awake at night, a US small business backlash against private equity predators and the super-rich Asian families growing nervous about parking wealth in the UAE. But first we look at early signs of strain in the relationship between Big Banks and their private credit borrowers. If you’re not already on our list, sign up here. Have feedback? Email us at goingprivate@bloomberg.net
Retail investors aren’t the only ones feeling uneasy about private credit; some of Wall Street’s biggest banks are consciously uncoupling from direct lenders who rely on them to juice returns.