Market Views: Which segments of private credit still offer genuine value?

Global capital continues to flood into the already crowded private credit market despite a slowdown in new deal activity and the return of corporate borrowers to the syndicated loan market. Direct lending funds alone attracted $129.15 billion in the first nine months of this year, a 35% increase from a year earlier, according to Preqin data. The growing mismatch between fundraising and capital deployment has increased pressure on investors to find opportunities to put capital to work.