Hedge fund Rubric Capital has warned investors that some private credit firms may be using aggressive accounting practices to mask leverage, raising concerns about transparency and risk in parts of the rapidly growing market, according to a report by Reuters.
In a recent investor letter seen by Reuters, the $3bn hedge fund Founded by former Point72 portfolio manager David Rosen, said certain business development companies (BDCs) appear to be temporarily shifting debt off their balance sheets aro...
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