Podcasts

Inflating Asset Prices with Chuck Fang | Private Credit Crisis

Nov 03, 2026

When a private credit fund tells you what its loans are worth, how much should you believe it?

Today on Private Credit Crisis, Executive Editor Teddy Downey talks with Drexel University finance professor Chuck Fang, whose research finds that funds that lock investors’ money in inflate their loan values the most. The funds that do let investors out, the kind Wall Street is now pitching for retirement accounts, face a different risk: something that looks a lot like a bank run.