FYI: Private credit funds invest in nonrated, debtlike instruments that have no readily tradable market or publicly quoted price. The lack of ratings and liquidity results in higher yields than on publicly traded, rated securities. Assets under management in such funds were growing rapidly until 2008. However, fundraising activity slowed significantly with the onset of the 2008-2009 financial crisis.
Regards,
Ted
https://www.etf.com/sections/index-investor-corner/swedroe-private-credit-performance?nopaging=1
