Dimon Says ‘Could Be Hell to Pay’ If Private Credit Sours (1)

Jamie Dimon said he expects problems to emerge in private credit and warned that “there could be hell to pay,” particularly as retail clients gain access to the booming asset class.

“Do you want to give access to retail clients on some of these less liquid products? Well the answer is — probably, but don’t act like there’s no risk with that,” the JPMorgan Chase & Co. chief executive officer said at an industry conference Wednesday. “Retail clients tend to circle the block and call their senators and congressmen.”

JPMorgan and other lenders have been competing with the $1.7 ...