At a glance
- Of the respondents, 57% expect wealth and retail allocations to increase, and 12% expect a decrease.
- Twelve percent of investors expect deployment to decline, up from zero in April 2026.
- Fifty-six percent of investors expect spread premiums of 100 basis points or less over broadly syndicated loans, up from 20% six months earlier.
Seventy-two percent of 150 finance professionals expect private credit deployment to rise over the next 12 months, according to Bloomberg Intelligence's fifth semi-annual private credit survey, as reported by InvestmentNews.
Of the respondents, 57% expect wealth and retail allocations to increase, and 12% expect a decrease. Analysts Paul Gulberg, David Havens and Michael Kaye ran the survey from Sept. 14 to 29, 2026.
Twelve percent of investors expect deployment to decline, up from zero in April 2026.
Fifty-six percent of investors expect spread premiums of 100 basis points or less over broadly syndicated loans, up from 20% six months earlier. That contrasts with fund managers, 78% of whom expect premiums of 200 basis points or more.
For advisors sizing client private credit allocations, the survey shows investors and fund managers holding spread expectations at least 100 basis points apart. A manager's stated spread assumption is a useful due-diligence question.
Investors and managers sit far apart on private credit spreads
Survey respondents by view; spread premium over broadly syndicated loans, Sept. 2026
Investors
100 bps or less
- Share with that spread view
- 56%
- Significant deployment rise
- 18%
- Expect deployment to decline
- 12%
Fund managers
200 bps or more
- Share with that spread view
- 78%
- Significant deployment rise
- 28%
Show as table
| Investors | Fund managers | |
|---|---|---|
| Figure | 100 bps or less | 200 bps or more |
| Share with that spread view | 56% | 78% |
| Significant deployment rise | 18% | 28% |
| Expect deployment to decline | 12% |
Reported by the Numbers desk from InvestmentNews. Published . Corrections