Private credit majors including Ares Management Corp and Blackstone Inc are currently deploying over half of the sector’s capital, according to a report by Bloomberg citing new research by AIMA associate the Alternative Credit Council (ACC).
A new report by the ACC highlights that while lots of newcomers are attempting to grab a slice of the private credit pie, incumbents account for the lion’s share of business, with about 58% of the total capital deployed by private credit managers globally estimated to come from firms that lend more than $10bn per year.
“The evident consequence of this trend is that the market is becoming increasingly concentrated in the larger lenders,” according to the report.
Blackstone recently raised $8bn in the first close of a new direct lending fund while Oaktree Capital Management is looking to raise more than $18bn for what would be the largest-ever private credit fund.
