Private Credit Set to Win More Deals From Rivals, BI Survey Says

Private lenders could replace 15% of traditional fixed-income investment, according to Bloomberg Intelligence’s Fall 2025 private credit survey published Wednesday, as links between private and public markets strengthen.

That’s up five percentage points from BI’s April survey — conducted amid post-tariff volatility — and four points from the prior year. Notably, the results come amid signs that growth in the $1.7 trillion industry is slowing.

Bankers’ expectations of a substantial shift to private credit might reflect an increase in partnerships between banks and private credit lenders, BI analysts Paul Gulberg and Samuel Radowitz noted in the study. The tie-ups allow ...