Private Credit: Characteristics and Risks

Fang Cai and Sharjil Haque
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Fang Cai: https://www.federalreserve.gov/econres/fang-cai.htm

No 2024-02-23-2, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: Private credit or private debt investments are debt-like, non-publicly traded instruments provided by non-bank entities, such as private credit funds or business development companies (BDCs), to fund private businesses. Private credit is typically extended to middle-market firms with annual revenues between $10 million and $1 billion, but has grown rapidly in recent years to fund larger companies that were traditionally funded by leveraged loans.

Date: 2024-02-23
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2024-02-23-2

DOI: 10.17016/2380-7172.3462

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