Key Takeaways
- • Bloomberg News is recruiting a reporter in New York to expand its coverage of the $1.8 trillion private credit market, according to a job posting.
- • The role calls for at least five years of experience in financial journalism or private credit, with M&A or capital markets coverage preferred.
- • The posting cites investor redemptions from private credit after high-profile blowups, scrutiny of underwriting standards, and lender exposure to AI-threatened software companies.
- • Compensation is posted at $90,000 to $120,000 annually, plus benefits and bonus.
Summary
Bloomberg News is looking for a reporter in New York to help expand its coverage of the $1.8 trillion private credit market, according to a job listing published by Talking Biz News. The reporter would be responsible for breaking news on deals, firms and individuals shaping corporate debt financing, a segment the posting describes as one of Wall Street's most opaque corners.
The listing frames the hiring against a difficult backdrop for the asset class. Investors have pulled money from private credit after several high-profile blowups focused attention on underwriting standards, and lenders' exposure to software companies threatened by artificial intelligence is adding to concerns. Rising interest rates are also putting pressure on highly levered borrowers, leaving asset managers to take more creative approaches to managing stress in their portfolios.
The ideal candidate would bring a track record of scoops in M&A or capital markets, a working understanding of corporate capital structures and deal financing, and a network across financial services, particularly private credit and leveraged finance. Experience covering business development companies is listed as a plus. The reporter would be expected to cultivate bankers, private credit managers, investors and consultants, and to collaborate with colleagues across bureaus and countries.
The role spans Bloomberg TV and Radio, Bloomberg Markets and Businessweek, podcasts, QuickTake and data visualization work. The posted salary range is $90,000 to $120,000 annually, plus benefits and bonus, with final compensation dependent on location, experience and skill level.
The listing frames the hiring against a difficult backdrop for the asset class. Investors have pulled money from private credit after several high-profile blowups focused attention on underwriting standards, and lenders' exposure to software companies threatened by artificial intelligence is adding to concerns. Rising interest rates are also putting pressure on highly levered borrowers, leaving asset managers to take more creative approaches to managing stress in their portfolios.
The ideal candidate would bring a track record of scoops in M&A or capital markets, a working understanding of corporate capital structures and deal financing, and a network across financial services, particularly private credit and leveraged finance. Experience covering business development companies is listed as a plus. The reporter would be expected to cultivate bankers, private credit managers, investors and consultants, and to collaborate with colleagues across bureaus and countries.
The role spans Bloomberg TV and Radio, Bloomberg Markets and Businessweek, podcasts, QuickTake and data visualization work. The posted salary range is $90,000 to $120,000 annually, plus benefits and bonus, with final compensation dependent on location, experience and skill level.
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