Key Takeaways
- • The American Investment Council (AIC) released a new report on the private credit landscape, using PitchBook data to show how private credit provides businesses of all sizes with flexible, long-term capital when conventional financing is unavailable or insufficient.
- • Direct lending, the report's focus, is a nearly $1.9 trillion segment of the private credit market and an increasingly important source of customized, long-term financing for midsized and large businesses.
- • AIC cites earlier research conducted with EY in 2024 finding that private credit supported more than 2.5 million U.S. workers who earned over $217 billion in wages and benefits in 2024.
- • The median private credit-backed company employs 182 workers, according to the report.
- • AIC President and CEO Will Dunham framed private credit as beneficial for local communities, workers, and the broader American economy.
Summary
The American Investment Council (AIC) released a new report examining the private credit landscape, drawing on data from PitchBook to illustrate how private credit supplies businesses of all sizes with flexible, long-term capital when conventional financing is unavailable or insufficient. The report was publicized in Washington, D.C., and is presented by the trade group as evidence of the sector's role in the U.S. economy.
The report centers on direct lending, a segment of the private credit market that AIC puts at nearly $1.9 trillion. According to the report, direct lending has become an increasingly important source of customized, long-term financing for midsized and large businesses, meeting demand for financing solutions that traditional banks often cannot provide. The research examines industries including healthcare, manufacturing, and technology, and describes how financing tailored to long-term growth supports business investment and expansion.
In a statement, AIC President and CEO Will Dunham said direct lending "plays a critical role in our economy, supporting countless small and midsized businesses across the U.S." Dunham cited examples highlighted in the report, including a medical imaging company that helps doctors better treat patients, a heating and cooling business that keeps critical systems functioning, and a rural dental provider expanding access to care in the Southeastern U.S. He said private credit helps businesses access capital and resources to grow, hire workers, invest in new technology, and strengthen their communities.
The report also references previous AIC research conducted with EY in 2024, which found that the private credit industry supported more than 2.5 million U.S. workers who earned more than $217 billion in wages and benefits in 2024. It further states that the median private credit-backed company employs 182 workers. The figures are presented by AIC and have not been independently verified in this summary.
The report centers on direct lending, a segment of the private credit market that AIC puts at nearly $1.9 trillion. According to the report, direct lending has become an increasingly important source of customized, long-term financing for midsized and large businesses, meeting demand for financing solutions that traditional banks often cannot provide. The research examines industries including healthcare, manufacturing, and technology, and describes how financing tailored to long-term growth supports business investment and expansion.
In a statement, AIC President and CEO Will Dunham said direct lending "plays a critical role in our economy, supporting countless small and midsized businesses across the U.S." Dunham cited examples highlighted in the report, including a medical imaging company that helps doctors better treat patients, a heating and cooling business that keeps critical systems functioning, and a rural dental provider expanding access to care in the Southeastern U.S. He said private credit helps businesses access capital and resources to grow, hire workers, invest in new technology, and strengthen their communities.
The report also references previous AIC research conducted with EY in 2024, which found that the private credit industry supported more than 2.5 million U.S. workers who earned more than $217 billion in wages and benefits in 2024. It further states that the median private credit-backed company employs 182 workers. The figures are presented by AIC and have not been independently verified in this summary.
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