Private Debt: The Rise of an Asset Class

Growth of the private debt market matches the needs of yield-seeking institutional investors and companies looking for capital to grow.

By Alan Flanagan, Robert Wagstaff

September 2018

The fifth issue of BNY Mellon’s Race for Assets series explores how the growth of the private debt market has been nothing short of phenomenal over the last decade as it matches the needs of yield-seeking institutional investors and companies looking for capital to grow.

According to BNY Mellon, with traditional lenders cutting back their financing following the financial downturn, credit funds invested in the private debt markets have filled the vacuum to provide crucial financing to the real economy. In the fifth issue of The Race for Assets series, BNY Mellon investigates the drivers and investor demands.

Learn more by visiting BNY Mellon’s The Race for Assets series page.

Alan Flanagan
Global Head of Private Markets Solutions, Alternative Investment Services, BNY Mellon

Robert Wagstaff
Head of EMEA Business Development, Corporate Trust, BNY Mellon




This article is provided for general information purposes only and CIBC Mellon and its affiliates make no representations or warranties as to its accuracy or completeness, nor do any of them take any responsibility for third parties to which reference may be made. This article should not be regarded as legal, accounting, investment, financial or other professional advice nor is it intended for such use.

About CIBC Mellon

CIBC Mellon is celebrating 30 years of helping Canadian institutional investors and international institutional investors into Canada service their financial assets throughout the investment lifecycle. Founded in 1996, CIBC Mellon is 50-50 jointly owned by The Bank of New York Mellon Corporation (BNY) and Canadian Imperial Bank of Commerce (CIBC). CIBC Mellon delivers investment services for investment funds, pension plans, insurance companies, banks, foundations, endowments, corporations, and global financial institutions whose clients invest in Canada.

As at June 30, 2026, CIBC Mellon had more than C$3.6 trillion in assets under custody and/or administration. CIBC Mellon is part of the BNY network, which as at June 30, 2026 had US$62.6 trillion in assets under custody and/or administration. CIBC Mellon is a licensed user of the CIBC trade-mark and certain BNY trade-marks, and is the corporate brand of CIBC Mellon Trust Company.