Private Credit Myth #9: Without a public benchmark, private credit returns aren’t dependable
We wrap up special series on the Top 10 #PrivateCreditMyths with the last two.
Myth #9: “Without a public benchmark, private credit returns aren’t dependable”
Private credit assets don’t trade. That distinguishes them from more volatile public credit correlated with market moves. Middle market loan yields are therefore more stable through business cycles.
Private credit also gets a premium yield to the broadly syndicated market of historically 100-200 basis points…
▶︎ Read Mar 2 2020 newsletter: here
▶︎ Chart of the Week: here (by Moody’s Investors Service)
Latest news
Top 50 BDCs Accounted for 75% of Nonaccrual Loan Cost in Q2’26
The 50 largest BDCs, on the basis of total debt investments as of the second quarter of 2026, accounted for 75% of the total aggregate reported value of nonaccrual debt at cost and fair value.
US private debt AUM ($B) by channel
In 2025 and the early part of 2026, the retail channel added AUM to the asset class at a much faster rate than institutional investors in both regions, with growth rates of 43.7% globally, 41.4% in the US, and 73. 1% in Europe through the beginning of 2026 compared with year-end 2024 figures.
