06.04.26

iCapital Data Shows Private Investors Shying Away From Private Credit

by: Elaine Misonzhnik

Data from iCapital suggests private wealth investors have become less enthusiastic about private credit, reallocating capital toward private equity, infrastructure and hedge funds. Private credit's share of fund flows on the platform fell sharply from 41% in early 2025 to 18% in early 2026, while private equity's share rose from 35% to 51%. The report also showed a growing preference for open-end investment structures, highlighting broader changes in how private investors are accessing alternative assets.

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