Author: Eric Elbell

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August 2025

Private credit has emerged as a common part of the investment landscape in recent years, as an increasing number of investors have embraced the asset class. Those yet to take the plunge may be wondering what the fuss is about and whether private credit merits a place in their portfolio.

While its emergence as a distinct asset class is relatively new, private credit encompasses a range of investment strategies that various capital providers have long pursued.

In this paper, we cover:

  • What is private credit?
  • The growth of private credit in the past 15 years
  • How private credit has performed compared to publicly traded debt alternatives
  • Advantages and drawback for investors
  • The performance characteristics of the different private credit sub-strategies
  • How investors may consider incorporating it into a broad portfolio.

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