Story perspectives

Private Credit Slumps; Net Value Up 20%, Infrastructure Gains $1.38B

5/14/2026

Summary

Story summary

Private credit fell to 6.8% of institutional alternative-asset holdings in Q4 2025, down from 9.7% in December 2024.
Net asset value rose about 20% since June 2024 as loan repayments and distributions increased.
The 50 largest managers held 51% of net value in Q4 2025, up 6% after capital commitments doubled for investors with over $500 billion.
Infrastructure recorded $1.38 billion net inflows in Q4 2025, with hedge-fund allocations at 22% and venture-capital surpassing private credit.

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Story summary

Private credit fell to 6.8% of institutional alternative-asset holdings in Q4 2025, down from 9.7% in December 2024.
Net asset value rose about 20% since June 2024 as loan repayments and distributions increased.
The 50 largest managers held 51% of net value in Q4 2025, up 6% after capital commitments doubled for investors with over $500 billion.
Infrastructure recorded $1.38 billion net inflows in Q4 2025, with hedge-fund allocations at 22% and venture-capital surpassing private credit.