After years of strong growth through the era of zero rates, the outlook for private credit is suddenly darkening.
BlackRock calculates that between the end of 2018 and the end of 2022, the private credit market doubled in size from roughly $750 billion to $1.5 trillion.
With banks under pressure from regulators to curb lending to highly leveraged, private equity-owned companies, the managers of private equity funds seized the chance to attract allocations from institutional investors into new credit funds that offered decent yields after a long period of low defaults.
Globally, venture debt is a $57 billion market.
Thanks for your interest in Euromoney!
To unlock this article:
