At a glance
- Asset-backed finance was the clearest favorite among strategies, with 58% of LPs planning to increase commitments.
- For advisors and allocators sizing a private credit sleeve, the survey puts valuation comparability on the due-diligence list.
- Defaults are the risk LPs named most often.
56% of limited partners say they are under-allocated to private credit, up from 43% in 2025, according to Goldman Sachs Alternatives' 2026 Global Alternatives Survey: The Private Credit View, published Tuesday.
Asset-backed finance was the clearest favorite among strategies, with 58% of LPs planning to increase commitments. The survey canvassed 225 LPs and 36 GPs worldwide. Among GPs, expansion into the wealth channel and growth of evergreen vehicles together accounted for 84% of responses.
For advisors and allocators sizing a private credit sleeve, the survey puts valuation comparability on the due-diligence list. LPs told Goldman they are paying closer attention to how managers value portfolios and whether those methods are transparent and comparable across managers, especially between evergreen and traditional structures.
Defaults are the risk LPs named most often. More than half of allocators called rising defaults the single greatest risk to their private credit portfolios; the remaining 47% of responses split across a macroeconomic shock or recession (19%), spread compression (16%) and refinancing or maturity-wall concerns (12%).
Reported by the Who's investing desk from Alternative Credit Investor. Published . Corrections