Private credit funds are having a moment. Once under-the-radar lenders that did deals with riskier clients, the firms have gotten a lot more popular as interest rates have climbed. But private credit funds are also under a lot less oversight than traditional lenders, allowing little transparency into the way they value their loans. And all this new-found attention is starting to come with heightened scrutiny.  

On today’s Big Take podcast, reporter Silas Brown shares what we know – and what we don’t – about how the world of private credit operates, and what new regulatory interest could mean for the $1.7 trillion dollars of assets these funds are managing.