Private Credit Sells Funds for Small Investors as Big Ones Balk

Private credit firms are looking to get their share of an estimated $178 trillion personal wealth market by offering individual investors what looks almost like a mutual fund.

The product, called an interval fund, is being pitched to registered investment advisers as an easy-to-sell entry into direct lending. Interval funds are being offered in amounts as low as $1,000 and can be purchased online through brokerage accounts, unlike larger investments that require multi-page subscription agreements.

KKR & Co. and Capital Group plan to launch hybrid public-private interval funds in 2025.
Blackstone Inc. is considering launching an interval fund in ...