Greenberg Traurig Eyes $2.2 Trillion Private Credit Market

Greenberg Traurig and other major law firms faced with a dwindling M&A market are turning their attention to a new competitive growth area: private credit.

“The next big trend is private credit,” Richard Rosenbaum, Greenberg Traurig’s longtime chairman, said in an interview. He compared private credit’s rise to the private equity boom that propelled law firm profits over the last decade, especially for those who got in early.

Private debt ballooned to about $1.5 trillion globally as of September 2022, up from roughly $300 billion in 2010, according to London-based investment data company Preqin Ltd. Total private credit assets ...