In conclusion, the findings in this report reinforce the increasing influence and sought-after nature of private credit, and nothing speaks to this more loudly than 96% of investors surveyed maintaining or increasing their exposure to the market. Desire to get in on the action is also clear when we shine a light on the strategy preferences of survey participants; 74% are looking beyond senior unitranche and direct lending to less traditional ways of generating returns. While exposure to the private credit secondaries market remains Relatively low, as this particular segment continues to evolve, and investors seek additional liquidity, we expect to see this increase also.

Continuing to look ahead, investors’ concerns about the market are highly correlated to default and loss projections in their portfolios, with AUM growth and fund-level leverage also featuring as potential worries. However, the strategic foresight, careful risk management and unwavering resilience of the private credit market – supported by strong investor appetite – has been evident in recent years, as has the adaptability of private credit managers. As such, the market is poised to play a crucial role in shaping the landscape of corporate finance.

To discuss any of the findings in this report, or Campbell Lutyens’ private credit advisory services, please “contact us”.