Man Group private credit AUM flat at $14.1bn in third quarter

Man Group's private credit assets stood at $14.1bn at the end of September, unchanged from three months earlier, even as its alternative funds drew $1.9bn (£1.4bn) of net inflows during the third quarter. Total assets under management reached a record $270.9bn, according to Alternative Credit Investor's Oct. 16 report.

Alternative assets overall rose from $110.5bn to $117.1bn, while private credit was unchanged. Net inflows and $3bn of positive investment performance drove the gain, with growth concentrated in liquid alternatives, where assets climbed from $92.9bn to $99.7bn. The report links demand for hedge fund strategies to market volatility, citing geopolitical tensions, rising energy prices, concern over government debt levels and uncertainty over spending on artificial intelligence infrastructure. The private markets business recorded flat net flows, with assets edging down from $17.6bn to $17.4bn. Within private markets, collateralised loan obligation assets slipped from $2bn to $1.9bn.

The report does not break the $14.1bn down by fund structure, so wealth allocators cannot see whether evergreen, tender-offer or drawdown vehicles held the total flat. The only disclosed movement inside the credit platform was CLO assets slipping from $2bn to $1.9bn; the report does not say whether that reflects redemptions, maturities or marks.

Across the group, net inflows were $10.1bn in the quarter. Assets under management of $270.9bn at Sept. 30 were up 6.8% from $253.6bn three months earlier and 26.6% higher year on year, above the $260.1bn Citi had expected, per the report. Man's shares rose 4% on the results.