Canada Pension CEO Says a Lot of Money Is Chasing Private Credit

A wall of money is chasing private credit in the absence of a thriving market for mergers and acquisitions, Canada Pension Plan Investment Board Chief Executive Officer John Graham said.

“I don’t want to throw cold water on it, but the world is very excited about private credit right now,” he said Wednesday at the Bloomberg Invest conference in New York. “We really haven’t seen the M&A activity come back to where it was, so when an opportunity does come to market, there’s a fair amount of capital that’ll move in and chase it.”

Graham said he anticipates that the ...