The size of the private credit sector has increased from about $2 trillion (€1.69 trillion) in 2020 to $3 trillion at the end of 2025, according to Morgan Stanley. How the conflict in the Middle East is already affecting Irish consumers Listen | 36:47Given that background, the tremors in the private credit market in recent weeks have been notable to say the least. US firms First Brands and Tricolor, which both utilised private credit heavily, blew up in the United States before Christmas amid accusations of poor underwriting standards. In the United Kingdom last week, Market Finance Solutions, a non-bank mortgage lender, collapsed, leaving its lenders on the hook for billions. Much of the money financing private credit firms, it turns out, came from the big banks themselves.

Source: The Irish Times March 08, 2026 12:00 UTC