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Story summary
- The National Employment Savings Trust (Nest) plans to invest £30 billion (30% of assets) in private markets by 2030, nearly doubling its target.
- Experts, including Lord Hollick, warn the plan increases exposure to shadow banking.
- The concerns follow the collapses of two American private-credit firms.
- Andrew Bailey, Governor of the Bank of England, warned that turmoil in this sector could trigger a crisis like 2008.
