Introduction

Campbell Lutyens has a leading practice dedicated to advising private credit managers on their fundraising initiatives, secondary market liquidity and strategic decisions impacting private credit focused GPs at the management company level, including M&A.

Our daily activities in the market put us in touch with thousands of institutional investors - globally - that invest in private credit. Our LP-facing teams have unique insights into how investors view private credit within their broader portfolios, as well as the opportunities and risks presented by the asset class.

As such, we recently conducted a broad survey of our closest institutional investor partners in the market to gather their views on private credit. We are pleased to present the results of this survey and the key conclusions to be drawn from an asset class that continues to grow, mature, and form a fundamental part of most institutional investors’ portfolios in today’s market.

Investors expressed views on the growth status of private credit allocations, which strategies and sub-strategies most interest them, structural considerations to accessing the market, macro outlook and key risks on the horizon. We are pleased to summarize the results across this report.