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Private Credit’s $22 Trillion Future — Are You Ready?
From platform launches to global JVs, Private Credit is entering a new era. Here’s where the biggest growth (and hiring) is happening.
James Howl-Newton
May 09, 2025
📰 Welcome to career.credit
Good morning!
Things are scaling and evolving. Between cross-border platform tie-ups and record-setting AUM, we’re seeing a new phase of growth take shape.
This week we cut through the fluff and bring you the headline deals from the industry.
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🏦 This Week’s Private Credit Headlines
📈 $22 Trillion in Sight
Barclays says private credit is closing in on half of the global credit opportunity — potentially growing to $22 trillion over time.
What’s driving it? A shift away from public credit markets and increased institutional allocations to private markets.
“We’re still in the early innings,” said the Barclays report.
Private credit now represents roughly 10% of global credit. That figure could double or more.
This is a structural reallocation — not a cyclical trade. Expect further growth in direct lending, NAV finance, and bespoke solutions.
🤝 General Atlantic & UBS Team Up
General Atlantic and UBS just announced a strategic private credit partnership, targeting senior secured lending across North America and Europe.
By combining GA’s deal flow with UBS’s origination and advisory reach, this JV will focus on mid-to-large cap companies.
This marks another move toward platform consolidation — and it’s a strong signal that bulge-bracket banks want more control over recurring credit revenue streams.
🚀 Clearlake Capital Launches ‘Clearlake Credit’
Following the acquisition of MV Credit, Clearlake Capital has officially launched Clearlake Credit — a $57B global platform spanning private and liquid credit.
The new platform combines:
MV Credit (Europe-focused sponsor finance)
WhiteStar Asset Management (structured credit + CLOs)
With over 230 professionals across 7 offices, Clearlake is now positioned as a serious player in both senior and opportunistic credit markets.
“Credit has always been core to our strategy,” said José E. Feliciano, Co-Founder and Managing Partner.
💼 Career Insights: What’s Moving the Market
Hiring is staying hot — especially in build-out platforms like Clearlake and UBS/GA. Here’s what we’re seeing:
📌 Hot Functions: Deal origination, credit underwriting, structuring
📌 Top Levels: Senior Associate through Director (3–10 YOE)
📌 Comp Trends:
Internal promotions seeing +6–10% total comp lifts
External hires often commanding +20%+ premiums
Signing bonuses are reappearing at Director+ levels
This is still a candidate-led market — but specialisation and execution skills matter more than ever.
🧠 Deep Dive: Is Private Credit the New Public Market?
As platforms scale and JV activity accelerates, it’s clear: private credit is becoming institutional.
We’re watching the following themes take shape:
🔹 Globalisation of Private Credit — cross-border deals, multi-office credit teams
🔹 Product Diversification — firms are blending direct lending, liquid credit, and structured finance under one roof
🔹 Tech + Data — digitisation of underwriting and reporting is reshaping mid-market operations
If you’re thinking about your next move, ask yourself: Can I grow with this platform? Or is it maxed out already?
💬 Final Thought
Private debt is continuing it’s push towards the mainstream in global credit markets.
Now is the time to:
✅ Identify platforms with headroom
✅ Build skills in high-growth verticals
✅ Position yourself early in this next phase
We’ll see you Tuesday with a brand-new free resource drop — a full interview case study, including a 3-statement model and investment memo template.
— James
Founder, career.credit & Futura Search Partners