Singapore family office turns wary about private credit

Concerns are mounting for private credit as economic uncertainty and the market’s rapid growth in size, to now over $2.1 trillion globally, have begun to pressure spreads and loosen underwriting standards. Some investors say alarm bells are ringing over credit quality, liquidity risks, and asset revaluation. “Adverse selection and moral hazard are the key risks that will be thrown aside by the pressure to deploy capital by private credit managers,” Kah Ken Kam, investment manage…