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Marathon Founder Says Private Credit Overexposed to Software Sector, Direct Lending Default Rate Could Reach 15%
18 hour ago /
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Author：小编
Bruce Richards, chairman of Marathon Asset Management LP, pointed out that private credit has significant investment exposure to the software sector, but the likelihood of risk spreading to the broader market is low. In an interview, he stated that the issues in the software sector are evident, with software companies in the private credit market having leverage ratios of approximately 10 times. He anticipates that the default rate for direct lending could rise to 5% to 6% in the coming years, with the software sector potentially experiencing default rates as high as 15%, becoming a major source of defaults.
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