ESG & Investing
Private Credit Funds Take On Wall Street’s Least Loved Label
- ESG is attracting rising interest from private credit funds
- Lombard Odier is among firms building funds on the theme
One of the most beleaguered financial labels on Wall Street has quietly been making inroads in the private credit market.
ESG — regularly derided as “woke” and anti-capitalist in the US — is finding a foothold away from public scrutiny. Of the $156 billion raised by private credit funds last year, about 16% went into products claiming to target environmental, social and governance goals, according to data provided to Bloomberg by Preqin. That’s a bigger share than for any year since at least 2014, with figures through June this year indicating the trend is set to continue.