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MFA statement regarding IMF private credit report

Washington, DC: MFA’s President and CEO, Bryan Corbett, issued the following statement in response to the private credit chapter in the IMF 2024 Global Stability Report:

“Private credit fills an important role in the global financial system and strengthens the economy by providing capital to companies of all sizes. Private credit funds are well regulated by the SEC and do not impose a systemic risk. Banks have depositors, and bank losses are backstopped by the government. Credit funds, on the other hand, have greater stability provided by long-term investor financing.” – Bryan Corbett, MFA President and CEO

About the global alternative asset management industry

The global alternative asset management industry, including hedge funds, credit funds, and crossover funds, has assets under management of $5.5 trillion (Q3 2023). The industry serves thousands of public and private pension funds, charitable endowments, foundations, sovereign governments, and other global institutional investors by providing portfolio diversification and risk-adjusted returns to help meet their funding obligations and return targets.

About MFA

Managed Funds Association (MFA), based in Washington, DC, New York, Brussels, and London, represents the global alternative asset management industry. MFA’s mission is to advance the ability of alternative asset managers to raise capital, invest, and generate returns for their beneficiaries. MFA advocates on behalf of its membership and convenes stakeholders to address global regulatory, operational, and business issues. MFA has more than 180 member fund managers, including traditional hedge funds, credit funds, and crossover funds, that collectively manage over $3.2 trillion across a diverse group of investment strategies. Member firms help pension plans, university endowments, charitable foundations, and other institutional investors to diversify their investments, manage risk, and generate attractive returns over time.

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