BlackRock Says Private Debt Will Double to $3.5 Trillion by 2028
- Firm said it expects the asset class to grow at 15% annually
- BlackRock sees private markets competing directly with public
BlackRock said it expects private debt to grow at about a 15% compound annual rate over the next five years.
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BlackRock Inc. predicts that the global private debt market will roughly double to $3.5 trillion by 2028, one of the most bullish calls to date on the growth of the industry.
The money manager is forecasting that “tectonic shifts” in financial markets will spur more borrowers to seek out private funds for financing, especially as some banks pull back from lending, according to a note published on Thursday by Amanda Lynam, BlackRock’s head of macro credit research.