Update on the Trouble in Private Credit with Tiffany Cianci

Claire V.
March 24, 2026

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Update on the Trouble in Private Credit

with Tiffany Cianci

“It’s déjà vu all over again.”

~ Yogi Berra
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The Returns on Private Equity Are Falling off a Cliff. Your Pension Is on the Line

Weekly Solari Report

Update on the Trouble in Private Credit

March 24, 2026


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13 Comments

  1. Tiffany may be more of a tough *ss than you Catherine, and that is saying a lot. Thank God for her. Fantastic interview. A polemical haymaker if there ever was one. I will be funding Tiffany’s account, checking and sharing her links. Thank you both

  2. Call me cynical, but somehow I feel that if the pensions bust, we will have a breakdown in social security payments to coincide.

    Why does so much of this feel like the collapse of the Soviet Union. Speaking to people that lived through that. No one “lost” their bank accounts, you just couldn’t make a withdrawal. However, all the these oligarchs suddenly own all the big industry. It seems like a slow motion version of this.

    1. Yes. More sophisticated and complex but the same basic idea. Access to new technology and capital focused on a few who will use it to control and hoard wealth and life.

  3. Catherine,

    Great interview. A few weeks ago I heard the same thing about farmland being purchased for the water rights. I wish I remembered where I saw it, but the same source mentioned something about Gates working on technology to be able to sequester the water. I believe water rights will become a much bigger issue and well permits will be harder to obtain. Well drillers are getting harder to find as our rural well drillers are aging just like farmers. Another issue is when wells go dry or become unusable many people cannot afford to drill a new one.

  4. Catherine, all your interview guests are great, but Tiffany is exceptional. Thank you for introducing her to Solari members.
    Did you order canned meat using Lehmans in Ohio?
    I am looking for Amish canned meat including anyone who sells Kroger’s BBQ chicken canned meat.
    Rock N Roll time is upon us.

    Prayer is good, prayer with repentance is better, prayer with repentance and fasting is best

    1. Yes, I used Lehmans in Ohio. Been using them for various items since 2000.

  5. I have a good friend who was recently hired by a regional private equity firm as an originator focused on hotel acquisition and development. He’s being paid around $250k in annual salary plus a yearly $250k bonus if he meets his goals.

    1. Looking to buy up as much as possible. Throwing capital to get real assets.

  6. So they used women and girls and rainbows to destroy the Boy Scouts. And now they’re using some promise of free stuff to girls out employees to sell off Girl Scout assets to thier friends and to destroy the Girl Scouts. The slow the march through the institutions really is ruining the USA. Terrible.

  7. It is pronounced B-REIT, not BREIT (Bright) Fund. It is real estate, not private credit! Blackstone and its REIT fund are fine; employees get a zero fee share class so many jump when asked to buy and it is voluntary.
    BREIT has resolved the gating of 5% quarterly two years ago. Blackstone’s BCRED private credit fund had 7.9% requests for redemption this past quarter and they met it even though the 5% gate could have been imposed.
    The two bankruptcies referred were not private credit originated but bank CLO issuance including JP Morgan’s Jamie Dimon and both of these firms committed fraud.

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