Private credit Archives

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Jan 21, 2025

Strive in ’25: Market/Asset allocation outlook

What are the key opportunities in 2025? Our Chief Market Strategist discusses complementing public equity exposure, replacing/complementing fixed income and putting cash to work.

The Takeaway with Troy Gayeski: Post-election strategy

Our Chief Market Strategist dives into his latest strategy note series on the post-election landscape for key alternative strategies.

Middle market optimism reaches new heights

Middle market business leaders’ economic optimism reached an all-time high in Q4 2024, even as potential uncertainty edged up.

Line chart tracking optimism and uncertainty among global middle market business leaders since 2020. Over the past two years, middle market leaders’ optimism has grown from 60% to 76% as of Q4 2024. Uncertainty has trended modestly lower until the past quarter as leaders acknowledge the additional uncertainties a new U.S. administration could bring.

Private credit is a small fraction of the U.S. credit market

In contrast to the headlines, the primary story in private credit is the change in market share, not the change in market size.

$Column chart showing major corporate credit markets by size. The chart highlights how small the private credit market remains, despite it accounting for outsized press over the past year. Private credit represents approximately $1.25 trillion in the U.S. and $2 trillion globally, which represents a fraction of the investment grade ($9 trillion) and bank loan ($11 trillion) markets.$