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The private credit boom is making its way to the IPO market

February 8, 2024

Private credit has been a growing theme in recent years, and like many undertones in broader financial markets, it's making its way to the IPO market.

When markets dropped in 2022, private companies in need of funding faced a new set of challenges as investors tightened their purse strings. Poor returns, a valuation correction, and market volatility pushed public offerings out of reach, and rising rates made traditional debt financing unattractive or unavailable.

As funding dried up broadly, opportunistic private credit became a hot area in finance, and investment teams were awash in scaled-up private companies that needed capital, in industries they had experience with. Likely wanting to avoid a down-round, pre-IPO companies like...

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