The Bank Of New York Mellon Is A Bank Based In New York City, USA. Its Main Businesses Are Securities Services And Asset Management. It Was Formed In 2007 By The Merger Of Bank Of New York And Mellon Financial.

The Private Credit Market Has Grown Tenfold Since 2007 And Is Expected To Reach $3.50 Trillion By 2028. This Explosive Growth Is Attracting New Capital, Including Retail Investors, But It Is Also Attracting Scrutiny Of Potential Financial Stability Issues.

Over The Past 15 Years, A Quiet Revolution Is Taking Place In The Global Fixed Income Market. An Important New Asset Class, Private Credit, Has Evolved From A Fringe Product Used Primarily By Mid-sized Businesses And Low-quality Borrowers To A Multi-trillion Dollar Market Managed And Controlled By Today's Largest Asset Managers And Private Equity Firms.

Despite Growing More Than Tenfold Since 2007, Private Credit Has Only Recently Come To The Attention Of Broader Investors And Financial Regulators. Until Now, This Scrutiny Has Not Resulted In These New Lenders Being Caught In The Same Regulatory Web As Banks.