The limited appetite to exit suggests that the angst around private credit has limits.
Photographer: Michael Nagle/BloombergThe calculus by Cox Capital Partners was simple enough. With a nearly $15 billion redemption backlog from private credit funds, the firm would offer instant liquidity for some investors by purchasing their shares, up to $90 million worth, at an average 26% discount.
The resounding answer among investors was even simpler: No thanks.