4 days ago
Wealth Firm Cresset Taps Private Credit to Weather Market Swings
Wealth management firm Cresset Capital has turned to private credit to boost client returns as President Donald Trump's on-off tariffs policy stokes turbulence across financial markets.
The Chicago-based company, which manages more than $65 billion on behalf of clients, has increased its allocation to private credit to as much as 20% in one of its strategies, said Chief Investment Officer Jack Ablin. Cresset wasn't involved in that market at all prior to 2022 because the risk was too high relative to returns, he said.
