Private Credit Titans Are Grabbing More Than Half of New Deals
- About 58% of fresh cash from funds that spend over $10 billion
- Established players behind large increase in direct lending
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The $1.6 trillion private credit market is attracting interest from all corners of finance. But only a handful of firms are really reaping the benefits.
The top dogs in direct lending such as Ares Management Corp. and Blackstone Inc. are deploying over half of the market’s capital, according to a new report by the Alternative Credit Council, an industry body for private credit funds that’s affiliated with the Alternative Investment Management Association. That’s troubling news for the legions of newcomers vying for a piece of the action of Wall Street’s hottest market.