ICG CEO Sees Private Credit Boom With Unprecedented Debt Returns

Almost all the stars are aligned for private credit, thanks to factors including low defaults, limited refinancing activity and the absence of a recession, said Benoît Durteste, chief executive officer of Intermediate Capital Group Plc.

“It’s double-digit returns for senior debt right now — I’ve never seen that in my career,” the London-headquartered alternative asset manager’s CEO told Bloomberg Television’s Dani Burger at the IPEM private equity conference in Paris.

Benoît Durteste on Sept. 19

Photographer: Nathan Laine/Bloomberg

Durteste pushed back on a prediction by UBS Group AG strategists in June that defaults in the private credit market would peak at 9% to 10% in ...