Private Credit – Better than Ever
Over the past five months, we’ve examined the impact of COVID-19 on the economy and the markets and interviewed top private equity and investment banking partners on deal making in the U.S.
What’s largely lost in media reporting is the dramatic turn in private credit.
This asset class emerged from Great Recession to become one of the fastest growing for fundraising and investing. Various trends, greater bank regulation, vast PE dry powder, soaring valuations – all pushed issuer terms to increasingly competitive levels.
Credit investors found themselves having to choose either the largest fund managers, who won transactions with the least investor-friendly terms, or opportunistic lenders offering higher yields…with much higher risk…
▶︎ Read Aug 17 2020 newsletter: here
▶︎ Chart of the Week: here (by TSA, Statista)
Latest news
3Q26 New loan assets as proportion of total lending edge up to 44%, highest level in 3 years
New loan assets as a proportion of total US loan volume make up 44% of the 3Q26 pipeline to date,…
North American GPs dominant as fundraising accelerates
Our PEI Private Credit 200 ranking also shows capital raising increasing overall – and accelerating especially fast for the largest…
PE exit activity
Exit value fell to $102.6 billion in the second quarter—down 46.3% from the prior quarter and 7.4% YoY—while exit count dropped to 353, a 14.1% quarterly decline and a 5.4% rise against Q2 2025.