How private market credit boom is hiding potential valuation problems

Colm Kelleher whipped up a storm at the end of last year when the UBS Group AG chairman warned of a dangerous bubble in private credit. 
Last year, UBS chairman Colm Kelleher warned of a bouble in private credit. | Photo: Tyrone Siu/Reuters/Ritzau Scanpix
Last year, UBS chairman Colm Kelleher warned of a bouble in private credit. | Photo: Tyrone Siu/Reuters/Ritzau Scanpix
By Silas Brown, Laura Benitez, John Sage, Kat Hidalgo and Ellen Schneider / Bloomberg

As investors dive headfirst into this booming asset class, the more urgent question for regulators is how anybody could even know for sure what it’s really worth.

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