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GLOBAL REPORT
INSIGHTS

Private Credit in 2026

Strategic evolution for private credit in 2025 sets the stage for an anticipated fundraising recovery in 2026

  • Our forecasts suggest private credit fundraising will accelerate in 2026, with data for 2025 suggesting investor demand may be firming up

  • Europe has significantly closed the gap with the US in terms of investor sentiment, a trend reflected in the increase in Europe-focused funds’ share of total fundraising

  • New sources of deal flow are opening up for private credit

  • Fees for recent-vintage private credit funds have increased, with optimism returning among some GPs for an improving fundraising environment

GLOBAL REPORT
INSIGHTS
December 15, 2025
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