Gundlach semi-liquid private credit

DoubleLine Capital Chief Executive Officer Jeffrey Gundlach raised questions about financial advisers who invested individual investors in private credit and semi-liquid funds, suggesting they were motivated by high fees.

Gundlach took issue specifically with private credit firms calling their funds “semi-liquid” in nature. 

“Half the time it’s liquid. It’s liquid when you don’t want your money, and it’s illiquid when you do want your money.”

Asset managers are now questioning the wisdom — or at least, the marketing message — of selling illiquid investments to the masses.

“I don’t know what systemic means, but people are going to lose money here.”

Bloomberg 7 May 2026

https://www.bloomberg.com/news/articles/2026-05-06/gundlach-warns-investors-will-lose-money-on-private-credit-funds


Andrew Bailey,  governor of the Bank of England, private credit risks to financial stability.

https://englundmacro.blogspot.com/2026/05/6-maj-trump-fred-ekonomi-kult.html


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