The Evolution and Future of the Private Credit MarketChou, Tingfu Private CreditPrivate DebtPrivate MarketsAlternative InvestmentsFinanceFinanceB SThis paper seeks to introduce the evolution of the private credit market and study the asset class’s future potential in the financial system based on both historical data and qualitative insights. More specifically, this paper gathers historical returns and fundraising data while surveying qualitative data about private credit and the broader private market universe, from investment and financial advisory firms as well as limited partners (LPs) and general partners (GPs). As a result, this thesis synthesizes varying perspectives on private credit’s outlook in an environment of economic turbulence and regulatory change, supporting the hypothesis that despite emerging risks, private credit will continue to experience sustained but leveling growth, remaining an important focus for LPs and GPs.David Haushalter, Thesis SupervisorBrian Spangler Davis, Thesis Honors Advisoropen_access2025-04-02T06:18:41Zhttps://honors.libraries.psu.edu/catalog/9628txc5519