Super-Rich Families Pour Into $787 Billion Private Debt Market
While banks are pulling back from lending, ultra-high-net-worth individuals are offering direct loans in return for high yields.
Like many members of the global super rich, Monaco-based financier Evgeny Denisenko faces an investing challenge.
Four years ago, he came into a multimillion-dollar windfall when he sold an equity stake to a large Russian pharmaceutical firm. But in an era when central banks are keeping economies on life support with cheap-money policies and negative-yielding bonds, the traditional assets that used to preserve family fortunes are scarcer and less effective. That means the real value of many a nest egg is dwindling, leaving Denisenko to face the challenge of ensuring that future generations of his family are as rich as he is.