Private Credit Begins Sacrificing Secrecy to Draw in Retail Cash

It would have seemed almost unthinkable for most private credit managers just a few years ago: Updating the value of their portfolios on a monthly basis.

After all, the opacity was part of the draw — that without the price swings of public markets, fund managers could look through cycles and weather any sudden storms.

But as the $1.7 trillion private credit market sets its sights on luring in money from individual investors — a potentially massive new source of funds — firms are increasingly finding the trade-off worth it to scale back their previous secrecy.

Many fund managers have ...