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(Bloomberg) -- Apollo Global Management Inc.’s James Zelter is “skeptical” of an economic soft landing. Ares Management LLC co-founder Michael Arougheti is concerned about the risk of a fiscal accident. Defaults will rise in coming years as riskier debt comes due for refinancing, according to Joshua Easterly of Sixth Street Partners LLC and hedge fund manager Hamza Lemssouguer. Most Read from BloombergWells Fargo Preps for Wealth Battle After $1 Billion TurnaroundChina’s Ultra-Rich Gen Zs Flock

(Bloomberg) -- Private credit is going through a golden era, according to its fans, but a handful of asset managers are refusing to be dazzled by the biggest part of the booming $1.5 trillion market: direct lending.Most Read from BloombergIndia Suspends Visas, Canada Pulls Diplomats Amid TensionsEx-Goldman Bankers Make a Fortune With Controversial Bet on Coal‘Dead Space’ Co-Creator Departs Startup After Newest Game FlopsPassalacqua in Italy’s Lake Como Is Named Best Hotel in the WorldSwiss Life’

(Bloomberg) -- Blackstone Inc.’s head of European and APAC Private Credit Paulo Eapen is set to leave the firm.Most Read from BloombergHow Auto Executives Misread the UAW Ahead of Historic StrikeMGM Resorts Hackers Broke In After Tricking IT Service DeskEurope Is Better Prepared If Trump Wins Again, Germany’s Baerbock SaysXi’s Missing Defense Chief Opens Door for US Military TalksEapen will depart by the end of the year after 17 years at the company, a Blackstone spokesperson confirmed. Eapen al

Blackstone's head of European and APAC private credit Paulo Eapen is set to leave the firm by the end of the year after 17 years at the company.

(Bloomberg) -- Blackstone Inc. President Jon Gray told analysts last month that private credit is having a “golden moment” as fund managers take advantage of tighter credit after recent banking turmoil. Left unsaid was that a big push in Europe is proving an exception. Almost six months after starting a fund targeting the region’s wealthy, the firm’s figures show it’s amassed €240 million ($261 million) for the product — through investor commitments and fund leverage — which is designed to provide alternative financing for private equity buyout deals. It’s a paltry amount com...