‘Oh god, get out’: Macquarie’s CEO on the narratives behind the private credit selloff
Shemara Wikramanayake says comments by former Goldman Sachs CEO Lloyd Blankfein and Citrini Research underscore the jitters in markets which have led to outflows at Blue Owl and Blacksone.
Macquarie Group chief executive Shemara Wikramanayake has argued the tremors shaking through the private credit sector and the sudden swing in market sentiment show why it’s not appropriate for retail investors.
Speaking on Wednesday, Wikramanayake acknowledged concerns about some of the risks within the sector, but attributed the recent damage to Blackstone, Blue Owl and others, to shifting sentiment, captured by warnings from former Goldman Sachs CEO Lloyd Blankfein and Citrini Research.
“We’re seeing a lot of outflow in the big credit funds. Is it because of the credit issue? It’s actually things like comments from people like Citrini or Lloyd Blankfein that caused sentiment out there in the market to turn, they’re like ‘Oh god, get out’,” Wikramanayake told the ASIC Symposium in Sydney.
The bearish mood has seen the share prices of Blackstone and Blue Owl both sell off, even spreading to one of the latter’s ASX-listed partners and portfolio companies, Navigator Investments Global — despite it having a distinct investment focus.
