Late Cycle: Private credit faces dispersion, chases transparency
Published on September 30, 2026
September 2026 | As we progress to late in the cycle, private credit has developed into a substantial force in the global economy, highly stratified, increasingly sophisticated and vastly dispersed. A maturing market brings with it conversations around opportunism, innovation, risk management, operational agility and standardisation – all themes that will be explored in this research.
