Access the recording of our webinar on private credit, real yields and AI in credit markets.

Aaron Mulvihill (JP Morgan Asset Management) discusses how changing yield conditions and AI-driven investment themes are influencing private credit opportunities and allocation decisions. The session is relevant for credit investors, portfolio managers and professionals assessing alternative income and private credit strategies.

Key takeaways

• Private credit investor demand remains strong: Private credit remains a leading allocation within alternatives, supported by income generation and diversification benefits.
• Real yields are supporting alternative income demand: Weak real yields in traditional portfolios have reinforced the case for alternative income sources.
• Private credit yields are moderating as competition increases: While still offering a premium to public markets, yields have moderated due to lower rates and increased competition.
• Private credit default risks and restructuring trends matter: Defaults remain relatively low, though investors are monitoring early indicators such as restructuring activity and payment-in-kind structures.
• AI infrastructure investment is driving debt issuance: Rising capital investment in AI is driving new debt issuance, particularly in data center and infrastructure financing.
• Manager selection is becoming more important in private credit: Increasing market complexity is expected to widen dispersion between managers, making due diligence more critical.

Watch the recording