via FT:
September 14 – Financial Times (Laura Noonan): “Private equity and private debt executives are too laid back about the mounting risks in their industry, the chair of the top organisation representing securities regulators warned…, as it published new research on vulnerabilities in the $13tn market. The International Organization of Securities Commissions (Iosco) said private finance — which includes private equity, venture capital and debt funds — could be tested in ways that ‘uncover hidden risks’ over the coming years. Higher interest rates, it said, threatened defaults that could put pressure on opaque valuations in a corner of the market subject to far less regulatory scrutiny than the banking sector. ‘There is a degree of nervousness out there but also, frankly speaking, a little too much confidence that all will be fine,’ Iosco chair Jean-Paul Servais told the Financial Times…”
h/t mark000