UBS Says Rich Clients Lost Some Interest in Private Credit

UBS Group AG Chief Financial Officer Todd Tuckner said that recent developments have cooled excitement among the lender’s wealthy clients about private credit, adding to the challenges facing the asset class.

“Interest in private credit among our wealthy clients has been more measured in the current environment,” Tuckner said on an analyst call Wednesday. That’s “clearly reflecting macro uncertainty and a preference for liquidity and capital preservation.”