Fund houses ‘not out of the woods’ on private credit, says Nuveen’s wealth head
The reaction from wealth clients during the recent run on the asset class has been ‘natural’, Jeff Carlin tells Financial News, and could continue for a while
Fund houses should continue expecting slower allocations from wealthy individuals to private credit, according to the head of wealth at one of the biggest asset managers in the US.
Many wealth managers are pausing investments into the sector as “there are some real legitimate questions to be asked and answered” following the recent run on the asset class, Nuveen’s global head of wealth and retirement advisory services Jeff Carlin told Financial News.