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ARTICLE · 14 APRIL 2026

Private Credit Valuations: Navigating Volatility, Regulatory Risk And An Evolving Market

Macfarlanes LLP
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Although most private credit funds remain funded by institutional investors, private wealth investors represent a small but growing share of capital. They can now get exposure to private credit through publicly...

United KingdomFinance and Banking
Rhiannon Kinghall Were
Rhiannon Kinghall Were
Steven Koppenaal
Steven Koppenaal
Margarida Ferreira
Margarida Ferreira

Private credit has seen significant growth in demand from borrowers and supply from investors.

Although most private credit funds remain funded by institutional investors, private wealth investors represent a small but growing share of capital. They can now get exposure to private credit through publicly traded business development companies, non-traded semi-liquid funds, exchange traded funds, investment trusts, European Long-Term Investment Funds (ELTIFs) or UK Long-Term Asset Funds (LTAFs). These vehicles have varying degrees of liquidity and can have specific requirements with respect to asset holdings and disclosures.

Turning illiquid assets into investable products has unlocked new pools of capital and whilst recent developments have invited a degree of market reflection, they also present an opportunity for the industry to refine and strengthen its structural frameworks.

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