Private Credit Lawyers are Bullish on Alternative Market Future

Demand for private credit deals is likely to remain strong as banks look to get in on alternative lending, according to lawyers at Akin Gump Strauss Hauer & Feld.

“I don’t see the banks taking back what’s been taken from the bank markets,” said Bill Brady, a New York private credit lawyer who joined Akin as a partner on Monday. Multi-billion dollar deals are being done without banks involved, said Brady, who previously led the alternative lender and private credit group at Paul Hastings.

Private credit deals, which became popular in the wake of the 2008 financial crisis, more recently ...