Transparency and regulation helping to drive private credit fund changes

New research shows private credit fund structuring evolution driven by investor demand for customisation, liquidity, rated notes, and co-investment.

A new paper, “Trends in Private Credit Fund Structuring 2025”, by the Alternative Credit Council and the law firm Dechert, draws on data from 50 private credit managers managing $1.5 trillion in assets to reveal what it can offer to investment teams at insurers. The new report is the second after the initial 2023 report.

The findings show that as the private credit market continues to grow, managers are fine-tuning their fund structures to keep up with investors’ rising appetite for liquidity, co-investment opportunities, and “tailor-made” solutions.

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