Private-credit fundraising faces its first test
Private-credit fundraising faces its first test
Chart • July 27, 2025
In this chart
Private credit has yet to endure a full rate cycle, and a prolonged downturn could challenge fundraising – just as past cycles did for venture, buyout and real estate.
Prolonged fundraising intervals in private equity and real estate after downturns
Data as of Q4 2024. Source: MSCI Private Capital Universe.