The Alternative Credit Council, of which Cheyne's president, Stuart Fiertz, is a board member and former Chair, has published this year's Financing the Economy report, to which Stuart was pleased to contribute.
Key findings from the report include:
The global private credit market has reached US$3.5 trillion AUM, with particularly strong momentum in Europe, now close to 30% of global assets.
Capital deployment surged to US$592.8 billion in 2024 — a 78% increase from last year’s volume.
Corporate, asset-backed, real estate and infrastructure lending all contributed to the market’s continued diversification.
Fund-level leverage remains modest at around 32% of net AUM, and closed-ended structures continue to support liquidity resilience.
Portfolio performance indicators remain stable, with non-accrual rates at 1.8%, in line with historical levels.
Institutional investors remain the core of the market (76% of AUM), with retail and mass-affluent allocations expected to grow.
