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Pension Managers Reveal Why They Love or Hate Private Credit
Some of the biggest buyers have very different views on this fast-growing asset class.
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With some $4 trillion to invest—and returns depressed by ultralow interest rates—U.S. public pension funds have been dipping their toes into private credit. The relatively new asset class had grown quickly, attracting almost $1 trillion, before it was hit by March’s pandemic-driven collapse.
So how do pension fund managers feel about this burgeoning asset class now? Bloomberg Markets talked to officials at nine pension systems of different sizes and in different parts of the country to get their views on how these investments are working out. We heard a wide range of reactions, presented here from the smallest fund to the largest: