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By Zeeshan AHMED, EY Luxembourg, Private Equity Partner, Infrastructure Private Credit Lead Sophia RIAB, EY Luxembourg, Associate Private Equity Private Credit
What structurally higher rates, global fragmentation, product design and digital infrastructure mean for private credit managers?
Private debt emerged from the post-financial-crisis period as a powerful substitute for usual lending, growing into a $3.5tn asset class in under two decades (Aima, December 2025). Today, that growth story is entering a more selective phase. Higher interest rates, persistent inflation and geopolitical fragmentation have ended the...
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