Hot India Private Credit Market Faces Risks as Exuberance Grows

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India,Credit Cycle,Direct Lending

(Bloomberg) -- India’s private credit market is growing so fast that a rush of new participants into the direct-lending sector is fueling concern about a...

-- India’s private credit market is growing so fast that a rush of new participants into the direct-lending sector is fueling concern about a weakening of lending standards.Chicago Should Consider Furloughs, Higher Booze Tax, Watchdog Says

Local firms are fueling competition with global giants such Cerberus and Oaktree Capital Management. India’s direct-lending market has yet to come through a full credit cycle and troubles at some players may eventually result in consolidation, according to Cerberus’s Ghosh. Current private debt returns fail to justify the growing risk in private credit, according to Pacific Investment Management Co.’s Mohit Mittal, chief investment officer for core strategies, who was speaking in a Bloomberg Intelligence Podcast. He warned of “more complacency” in private credit.

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