Private Credit Loses Its Pricing Edge as New Funding Channels Open for Borrowers
Private credit is facing a sharper competitive squeeze as companies gain access to a broader mix of financing options, including bank-led acquisition funding. In the first half of 2026, a notable share of private credit deals reportedly priced below 18%, underscoring how the asset class is being forced to compete harder on terms rather than scarcity. For lenders, the shift is prompting a search for higher-return niches as the market matures.
