Key facts
- Executives at an industry conference in Berlin discussed challenges in private markets.
- Bain & Co reported a prolonged liquidity crunch for private equity.
- Companies are being held longer in private equity, creating a backlog of unsold assets.
- Median dividend coverage for U.S.-listed private-credit lenders fell to 0.99 times in Q1 2026.
- Payment-in-kind interest is exacerbating thin dividend coverage in private credit.
- BlackRock's private credit fund saw Q2 redemptions rise to 13.3%.
- BlackRock's private credit fund had 9.3% redemptions in the prior period.
- DoubleLine and Oaktree are reportedly purchasing debt.
- DoubleLine and Oaktree anticipate credit risks associated with artificial intelligence.
- DoubleLine and Oaktree specialize in distressed debt and credit markets.
Executives at a major industry conference in Berlin have highlighted significant challenges within private markets, pointing to weaker incomes and difficulties in raising capital. A report by Bain & Co indicates a prolonged 'liquidity crunch' for private equity, characterized by companies being held for longer periods and a growing backlog of unsold assets. This situation suggests a tightening environment for private market investments.