The Largest Private Credit Managers
180 firms on this list · showing the ten largest · ranked by regulatory assets under management on Form ADV
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1
$718.5Breg. AUM
Apollo Global Management
Alternative manager focused on credit, plus private equity and real assets, with large insurance balance sheet.
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2
$458.8Breg. AUM
Ares Management
Alternative manager best known for direct lending and credit, plus private equity and real estate.
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3
$392.8Breg. AUM
Barings
MassMutual-owned manager focused on private credit, fixed income, real assets and private equity.
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4
$270.9Breg. AUM
KKR
KKR's credit platform investing in leveraged loans, direct lending and asset-based finance.
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5
$183.3Breg. AUM
Oaktree Capital Management
Alternative manager specializing in distressed debt, private credit, and opportunistic real assets.
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6
$177.9Breg. AUM
Golub Capital
Investment adviser to Golub Capital vehicles making direct loans to middle-market companies backed by sponsors.
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7
$175.7Breg. AUM
HPS Investment Partners
Alternative credit manager providing private corporate lending, asset-based finance and liquid credit strategies.
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8
$115.9Breg. AUM
TPG Angelo Gordon
Alternative investment arm of TPG investing in credit and real estate across the US, Europe and Asia.
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9
$107.3Breg. AUM
Brookfield
Brookfield vehicle managing credit and insurance-related investment portfolios.
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10
$101.6Breg. AUM
Sixth Street
Global investment firm best known for flexible direct lending and opportunistic credit across sectors.
How this list is built
The number
Regulatory assets under management as disclosed on Form ADV, filed with the SEC. Each filing is public.
Where a firm sits
Firms are placed by the strategy they are principally known for. A manager filing several entities appears once, at its largest.
What is excluded
Banks, brokerages, index managers and wealth advisers. Their assets are a different measure and ranking them beside a fund’s regulatory assets would be meaningless.
Links
Every website is checked as the firm’s own site before publication. Where we cannot confirm one, we print no link rather than a guess.