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Story summary
- Private credit, a nonbank lending practice, is expanding after several American companies collapsed and is projected to reach $4.9 trillion by 2029.
- Jamie Dimon, chief executive officer of JPMorgan Chase & Co., and investor Jeffrey Gundlach warn of risks.
- Experts cite concerns about transparency and valuation accuracy in private loans, with defaults expected to rise.
- Banks are re-entering the space, but the lack of regulation raises questions about financial stability.
