SRS Acquiom&Debtwire ：2025年信贷市场展望报告（英文版）

The private credit market has evolved far beyond its direct lending foundation. Today, it offers a long and sophisticated menu of financing options, including venture debt, asset-backed finance, special situations, and net asset value (NAV) loans, to name a few. However, its center of gravity remains firmly in direct lending. Our survey confirms this, with an almost unanimous 99% of respondents having exposure to direct lending strategies, and over a third (35%) identifying it as th