Cliffwater Exodus Tees Up Nesbitt Family Stress Test
Father-and-son battle redemptions from co-investing credit fund
Welcome to Going Private, I’m Sinead Cruise and this is Bloomberg’s twice-weekly newsletter about private markets and the forces moving capital away from the public eye. Today, we explore a HALO trade revival in private capital, Egan-Jones’ push to resume ratings of ABS and government debt, and why the Bank England wants to take its time on a groundbreaking review of private markets firms. But first we ponder the challenges faced by Cliffwater as the private credit redemption rush continues. If you’re not already on our list, sign up here. Have feedback? Email us at goingprivate@bloomberg.net
If you thought private credit executives at Blue Owl, BlackRock and Blackstone were having a tough time of late, spare a thought for Stephen and Blake Nesbitt.