Ares Management co-president Blair Jacobson says there is a “real disconnect” between recent negative media coverage of private credit and operating conditions reported by companies in Ares’ portfolio. Speaking on Bloomberg, Jacobson argues that the coverage does not reflect the performance trends he is seeing across portfolio firms.
He says companies worldwide are reporting annual growth in the range of 8% to 12%, indicating continued business expansion. Jacobson also points to credit quality, saying non-accrual rates in the portfolio are lower than Ares has historically seen, which he uses to counter broader negative narratives about the sector.
The remarks frame the current debate over private credit as potentially overstated relative to underlying fundamentals observed by lenders and investors through their portfolio companies. The sources included only Jacobson’s comments and portfolio observations, without adding new market data or independent verification. Overall, the story focuses on Jacobson’s assessment that current headlines are not aligned with reported growth and credit metrics within Ares’ investments.
