Jamie Dimon: 'There could be hell to pay' in private credit as retail investors join in

Problems could emerge in the asset class

JP Morgan CEO Jamie Dimon has warned “there could be hell to pay” in private credit as problems start to emerge in the $1.7trn industry, particularly as retail investors gain access to the flourishing asset class.

Speaking during an industry conference on Wednesday (29 May), Dimon said there were a lot of "brilliant" people in the industry, but cautioned that not all players in the sector are "good", with problems frequently stemming from the "not good" ones that make mistakes. "There may be problems here. I do not think it is systemic, but I do expect there to be problems," he added.  Private capital fund managers have in recent years started to pivot their fundraising efforts toward the non-institutional space, with the likes of KKR, Apollo and Blackstone setting ambitious capital raising tar...