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The size of the global private credit market is estimated at over $3 trillion, as per latest industry research by the Alternative Credit Council (ACC), the private credit arm of the Alternative Investment Management Association (AIMA). The 10th edition of Financing the Economy report, published in collaboration with EY, looks at the industry in detail.
Financing the Economy is one of the largest private credit industry datasets published to date. In 2024, the research captures data from 53 private credit managers and investors that manage over $2 trillion in private credit assets. When combined with additional datasets, it reveals that the market actually exceeds $3 trillion. In 2024, EY was asked to collaborate with ACC in conducting the survey of private credit managers. This data was then unpacked by the ACC and EY in one-on-one interviews with industry leaders. The report therefore also features insights from 26 of the largest private credit fund managers.
Private credit has been the fastest-growing alternative asset class over the past two decades. The research shows that the sector continues its steady growth despite headwinds. Private debt markets also expand into new geographical markets and into a variety of new debt strategies. Whilst institutional money constitutes the main source of financing, retail and insurance capital have played a more significant role. The rapid growth has gathered increased attention from regulators, yet the sector continues to provide a vital source of alternative financing to the real economy which benefits both borrowers and investors.
Vincent Remy
EY Luxembourg Private Debt Leader
Being asked to collaborate with the ACC and AIMA on this significant research is a testament to the strength of our sector-centric strategy and credibility that both Luxembourg and EY command within the alternatives space. This collaboration affirms our strategic vision but also underscores our commitment to driving innovation and excellence in the global financial landscape.
Olivier Coekelbergs
EY Luxembourg Country Managing Partner