Chambers USA 2026 Guide: Private Credit Overview

Private credit has become a cornerstone of US corporate finance, offering flexible and tailored solutions to borrowers and private equity sponsors. In recent years, private credit providers have played prominent roles in debt financings for some of the largest and most complicated leveraged buyouts.

As of today, the global funded private credit market has reached approximately USD2 trillion, representing a 1,000% increase since 2009. The expansion of private credit over that span has been driven by a number of factors, including regulatory changes; the attractiveness to investors of risk-adjusted, high-yield returns; the rapid growth of private equity; an increasing demand for speed, certainty and flexibility of financing; the proliferation of innovative investment vehicles; and the resilience of private credit to market stress.