KKR Sees M&A Pickup Giving Private Credit Boost at End of 2023

KKR’s Dan Pietrzak, co-head of private credit, sees acquisition activity picking up later this year, which could create more business for direct lenders.

Pietrzak spoke with Bloomberg’s Lisa Lee in a series of conversations that ended on March 21. Comments have been edited and condensed:

What has driven growth in private credit?

Source: Bloomberg

Part of it is, middle market private equity firms raised more and more equity capital. They needed people to lend to them.

When you go beyond that though, there are two things. People have been looking to know their lender base, instead of having a disparate ...