Private Credit League Table

Question

Just starting the discussion on Private Credit League Table as today PDI 100 results came out. Ares still the undisputed leader, however there are some shops that grew massively over the past year such as HPS. Surprisingly some of the big PE shops' credit arm are falling behind in the pack - i.e. KKR down 3 positions, Blackstone down 2, Oaktree down 6. I am also attaching a screenshot of the the top 30.

Curious to know what you all think!

PDI 100 Ranking

Curious to know what you all think!

rickle · Accepted Answer

Growing that division is definitely a focus at PIMCO. They have over 200B in RE as well which they include in their alts discussions, some of which will require distress workouts. The whole area of private credit/ RE is a big fee generator vs. traditional public markets. A lot of attention moving to that industry wide. PIMCO has a very deep bench in just about everything on the FI side so I would think they'd be a great place to be.

Beyond Gravity · Answer

League tables are irrelevant in Private Credit.

Better to show the current fund size, how the fund size has grown over the last year, etc.

A lot of these funds also have different investment strategies so to group them as "Private Credit" is just not relevant. At GS for instance the figure consist of their DL, Hybrid Capital, Structured Lending team whilst some other only consist of DL.

Your point regarding Oaktree, have you checked when their latest fund was raised versus the competitors? You have a few AM who are hovering around the same AUM.

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Private Credit League Table

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