Centerbridge Says Private Credit Has ‘Real Place’ in 401(k)s

Centerbridge Partners joined the ranks of many alternatives managers that see accessing 401(k) retirement funds as a logical next step for private credit firms.

Jeff Aronson, the co-founder and managing principal of Centerbridge, said Wednesday that private credit is a safe investment for 401(k) participants, adding that the most important factor is that investors know what they’re buying. New York-based Centerbridge, which managed around $42 billion of assets as of March 31, launched its private credit strategy in 2007.

“I’m a huge believer,” Aronson said in an interview with Bloomberg Television. “I really believe it’s just a matter of ...