Day: March 16, 2026

Executives at the biggest private-credit lenders have sought to play down an exodus of investor money from their funds, making carefully worded television appearances to calm jitters about the sector. Apollo Global Management’s APO 4.13%increase; green up pointing triangle?John Zito, co-president of the firm’s asset-management arm that is one of private-credit’s largest players, spoke more bluntly in a previously unreported discussion UBS UBS -1.52%decrease; red down pointing triangle arranged for some of its clients late last month.

Zito called out “arrogance” in private markets, predicted a private-credit loan made to a generic small or midsize “Joe Software Company” might recover 20 to 40 cents on the dollar and said Federal Reserve Chairman Jerome Powell is needling President Trump with his inflation commentary, according to audio recordings of the comments reviewed by The Wall Street Journal.