"And we've seen the Federal Reserve raise interest rates as quickly as they ever have. So that has specific lag effects, and one of the most visible lag effects that we've seen is on private ...

Cherry-picked ... Leon Black-obsessed book — "Two and Twenty," by a former Apollo partner — reached the exact opposite conclusions as "Plunderers": namely that private equity's growth is ...

And this caused a total fiasco in August 2015. But now this summer we could see a Black Swan event in the private credit market – due to the same mistakes that triggered the 2008 financial crisis.