“If you liked private credit before, you’ll really like it now.” 

That’s the way one practioner neatly summed up how investors should be thinking about the asset class in a COVD environment. 

The trends supporting that thesis this year should continue well into 2021. A sizzling economy doesn’t really help credit. No worry there. Unemployment is down, but that’s because people have dropped out of the labor market.

Only half of the 22 million jobs lost since March have returned. 4 million jobs in the restaurant, travel, hospitality and leisure industries are gone for good...