Private Credit: Recap of Asset Managers in Focus Webinar

KBRA recently hosted its Private Credit: Asset Managers in Focus Webinar on March 3, 2026, where they shared valuable insights and key takeaways. One of the main highlights discussed during the webinar was the expansion of KBRA’s rated universe since 2019, which now includes over 60 asset managers globally. These managers cover a wide range of sectors such as private equity (PE) and private credit, real estate, infrastructure, and wealth management. Assets under management (AUM) within this universe vary significantly, ranging from approximately $1 billion to over $480 billion. Additionally, it was noted that around one-fifth of these asset managers are located outside of the United States, mainly in Europe.

During the webinar, alternative asset managers were singled out as particularly robust within financial institutions. This assessment was supported by various factors, including recurring management fees, the long-term nature of closed-end fund structures, conservative management company leverage, and solid operating cash flow. KBRA’s ratings for these asset managers span from AA to below-investment grade categories, reflecting their diverse risk profiles and financial strengths.

Another key topic addressed in the webinar was the strategic nature of debt issuance among asset managers. It was emphasized that debt issuance plays a crucial role in facilitating co-investments, launching new strategies, pursuing mergers and acquisitions (M&A), and planning for succession. As a result, the volume of debt issuance within this sector has been steadily increasing over time.

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In conclusion, KBRA’s recent webinar shed light on the evolving landscape of asset managers in the private credit sector. The expansion of their rated universe, the strength of alternative asset managers, and the strategic significance of debt issuance were all key themes discussed during the event. By staying informed and leveraging KBRA’s expertise, market professionals can make well-informed decisions in the dynamic and competitive world of asset management.