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Alternative Market Briefing

Private credit industry to reach $1tn by 2020: AIMA

Thursday, November 08, 2018

Laxman Pai, Opalesque Asia:

The size of the global private credit market is on course to break the $1tn mark by 2020 as the sector remains on track.

According to the new research on global private credit industry produced by the Alternative Credit Council (ACC), the private credit affiliate of the Alternative Investment Management Association (AIMA), while the fundamentals driving the growth of private credit remain strong, the factors supporting that growth are facing several tests.

The market remains extremely competitive with private credit managers working ever harder to compete for deal flow. This dynamic is evident in the continued pressure on deal terms, as well as the growing use of leverage in some parts of the market, it said.

The report said that private credit managers are mindful that we are getting ever closer to the top of the credit cycle, if not the economic one.

Private credit is a globally established source of mainstream finance for borrowers around the world. Managers are increasingly lending to a far wider variety of borrowers outside of the mid-market than ever before: from smaller businesses and startups, to larger corporations and infrastructure projects.

Nearly a third of all capital invested (by the respondents to this survey) supports non-corporate lending strategies, including asset-backed finance, trade finance, receivables, real estate and distressed.

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