Ares CEO Says UBS Call on 15% Private Debt Default ‘Absolutely Wrong’
Ares Management CEO Mike Arougheti during the Bloomberg Invest event in New York on March 3.
Photographer: Michael Nagle/BloombergA forecast last week from UBS Group AG analysts that private credit default rates could reach 15% was “absolutely wrong,” Ares Management Corp.’s Chief Executive Officer Mike Arougheti said.
“It was actually irresponsible,” he said in an interview Tuesday at the Bloomberg Invest conference. “This is part of the problem when you have someone who’s actually never been in a segment of the market making commentaries” about default outlooks.