PIMCO CIO sees no systemic risk in private credit market
PIMCO CIO Daniel Ivascyn says private credit poses no systemic risk despite liquidity issues. He expects more selling to create opportunities for new investors.
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The private credit market, currently valued at approximately $3.5 trillion, does not present a systemic threat to the global financial framework, according to Daniel Ivascyn, the group chief investment officer at PIMCO. Ivascyn addressed the sector's outlook during a media conference in London, noting that while the industry has faced pressure from artificial intelligence risks, fund outflows, and credit stress, the primary outcome will likely be underwhelming performance rather than a total collapse.
"We do not see systemic risks within private credit, we see disappointment, we see lower returns than anticipated," Ivascyn said.
