According to Moody’s research, fundraising is going from strength to strength, with inflows up 72% over the last 12 months. AUM has also risen 8% in the first six months of 2024, putting private credit at the head of the pack and giving plenty of reason for fundraising teams to celebrate. As more investors get behind the 8-ball, private credit is proving to be the most resilient alternative asset class in the current macro environment. Asset managers are getting on board to meet this demand, including BNP Paribas who launched an evergreen ELTIF this week. Right now, private credit is ‘going with the flow’.