The relatively recent trend in the market for Private Credit has had an exponential growth in recent years, having grown to around "$1.25 trillion in assets, according to Prequin data".

The strategy fills a lending gap in the market which the banks were not satisfying. Although lending to middle market deals ($50-200mil ticket on average), the risks have surely paid off for this portion of the private markets. Having crossed the $1 trillion dollar threshold, Private Credit is challenging the banks in a rather sophisticated fashion.

The continued growth of Private Credit is evidenced in the recent moves of a number of senior members of management, such as, Peter Glaser being appointed Head of Private Credit and Asset Finance for Macquarie Asset Management. Nuveen have also expanded their Private Credit specialist team with the appointment of Nick Simon as Managing Director for the firm's Private Credit Specialist team.