Private Credit Is Not Created Equal - Family Offices Debate the Risk Artwork

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Family Office Podcast: Billionaire & Centimillionaire Interviews & Investor Club Insights

Private Credit Is Not Created Equal - Family Offices Debate the Risk

September 04, 2026 • Investor Panel

0:00 | 2:57

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Private credit is one of the most talked-about asset classes in the family office world right now - but is the hype justified?
In this panel discussion from the Single Family Office Summit, three family office principals share exactly where they stand on private credit in today's market - and the answers are more divided than you'd expect. One says it's nearly impossible to underwrite properly at current lending rates. Another is avoiding it entirely for cross-border capital. And a third has 60% of their portfolio allocated there - with a very specific reason why.
What you'll hear in this episode:

Why one family office principal says private credit lenders are charging 15% with insufficient due diligence
How Asian family offices are approaching - and avoiding - private credit allocations
Why "private credit is not created equal" and what that means for your portfolio
The case for looking at public markets instead of private right now
What it really takes to underwrite private credit comfortably at scale

Family Office Club is the world's largest investor community - 19 years, 300+ events, 16M registered members, 18.5M social followers, and over $1B in community transactions. Our Single Family Office Summit brings together the most active allocators in the space for unfiltered conversations you won't hear anywhere else.
Want access to mandates, deal flow, and direct conversations with family office principals like these? Visit FamilyOffices.com to learn more about membership and our next live event.
What's your take - is private credit still worth the risk in this rate environment? Drop your answer below.

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They're lending people money at 15%, and I'm not sure how much due diligence. It's impossible to do
all the due diligence on the companies that they've owned. In this episode,
we learned that private credit is not created equal. Let's run through hot takes on private credit
by family offices. I think one of the problems I've had is that private credit has gone in and...
They're lending people money at 15%, and I'm not sure how much due diligence. It's impossible to do
all the due diligence on the companies that they've owned. So I think it's probably much better now
to look at the public markets than the private markets. Because if you look at a Blue Owl,
which has been a significant investor in private credit, their stock has gone down 50%.
And I'd rather own their stock at $10 when it was $20 at a discount than try to pay a premium to
buy the same private companies that they're lending to. When there are a lot of people that
approach us, say, hey, do you want to do private credit? Would you like to get into some private
deals? I say, I'm sorry, because the principal. They are back there in Asia. They will never
understand what we're doing here. So better just stick with secondary market or big brands like
Anthropic or SpaceX, right? I think just a quick comment on private credit because our family
office, that's predominantly what we do. It's not created equal. And I think to Jody and Shirley's
points here is if anyone is really thinking of where the market is and where private credit is
going today, I think there's a lot of... misconceptions and there's a lot of misinformation being
circulated around private credit. So with that, there are multiple segments within that market that
people continue to allocate to. Our family office is probably 60% allocated in private credit,
but we're very focused on our niche and what we can underwrite and are comfortable with from a risk
perspective. Join the Family Office Club by visiting familyoffices.com.
We look forward to seeing you at our next live event.