How private credit became one of the hottest investments on Wall Street

Private credit has quickly become one of Wall Street's most popular investment classes in 2023. Alternative data platform Preqin projects this asset class will reach $2.7 trillion by 2027.Several firms such as Apollo Global and Ares Management have grown this market from just $250 billion in 2010.This happened in part due to banks retrenching from the lending market after the Great Financial Crisis in 2008 with new regulations. It also has roots in the Federal Reserve's monetary policy of holding interest r ...