Private credit secondaries carry embedded structural benefits that may positively impact risk-return profiles. Private Credit Secondaries Pricing As % of NAV Private Credit Secondaries May Provide: Access to consistent and substantive discounts to net asset value (NAV) A lower risk profile with seasoned, performing loans and lower leverage Shorter average duration (2-4 years) vs. comparable direct lending funds Diversification across GPs, vintages, managers, industries, and geographies Source: Greenhill H1 2024 Global Secondary Market Review. Private credit secondaries refers to the buying and selling of existing private debt fund interests or loan exposures on the secondary market, allowing investors to gain liquidity or enter investments without committing to new originations. Download the Chart Share this week’s timely market insights designed for advisors searching beyond the index Download PDF Share This Page Get Our Latest Posts Delivered Right To Your Inbox. Past performance does not guarantee future results. There is no guarantee any of these trends will continue. Investing involves risk. It does not constitute investment advice or an offer or solicitation to purchase or sell any security and is subject to change at any time due to changes in market or economic conditions. The comments should not be construed as a recommendation of individual holdings or market sectors, but as an illustration of broader themes. All data referenced are from sources deemed to be reliable but cannot be guaranteed as to accuracy or completeness. Information or opinions expressed herein are general and educational in nature and have been provided for information purposes only. Neither the information nor opinions expressed constitute investment advice and it is not intended, nor should it be considered, as an endorsement of any specific investment strategy. The information and opinions contained herein are current as of the date published and are subject to change without notice. Information has been obtained from sources believed to be reliable, but its accuracy, completeness, and interpretation are not guaranteed. Private market index providers rely on voluntary performance reporting by funds. This means that underperforming funds may delay reporting or, in some cases, not report at all. Additionally, poorly performing funds might liquidate, which further skews the results. As a result, private market indices may reflect a bias towards funds with successful track records, leading to the appearance that historical average fund performance is higher than it actually is. It’s critical for investors to be aware of survivorship bias when assessing historical performance. Understanding this bias can help make more informed decisions when evaluating current private market investments. Reproduction and distribution is prohibited without express permission. AMG Funds LLC cannot guarantee that the information herein is accurate, complete, or timely. AMG Funds LLC makes no warranties with regard to such information or results obtained by its use and disclaims any liability arising out of your use of, or any reliance on, such information. See wealth.amg.com for additional disclosures, our privacy policy, and terms of use. © 2025 AMG Funds LLC. All rights reserved. AMG Funds are distributed by AMG Distributors, Inc., a member of FINRA/SIPC.
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