Private credit has moved from a post-2008 niche into a standing part of many advisory portfolios. Clients are drawn to floating-rate income and the structural protections of senior-secured lending. Advisors are left with the harder questions: what the client actually owns, how much liquidity the structure really offers, and how a manager is likely to behave when the credit cycle turns.
The Complete Guide to Private Credit for RIAs was written to answer those questions in order. It is a 13-chapter learning path covering how private credit works, how to access it, how to size it for clients, and how to evaluate managers through a full cycle.
The guide is educational by design. It does not recommend any investment, and it gives the asset class's risks the same attention as its appeal, so advisors can explain both to clients with confidence.
What You Will Gain from the Guide
- The building blocks of private credit, from direct lending to the capital structure, and what first-lien, senior-secured, and floating-rate terms actually protect.
- How a private credit loan works in practice, from origination through repayment.
- The vehicles available to advisory clients, who is eligible for each, and how to manage liquidity so no client depends on a repurchase window being open.
- The fiduciary and regulatory responsibilities that come with recommending private credit.
- Where private credit fits in a client portfolio, and how it works alongside private equity in a complete private markets allocation.
- How to evaluate and monitor a private credit manager through a full credit cycle.
- Balanced answers to the question of whether private credit is a bubble, plus a clear look at how private credit income is taxed.
The complete guide is available in BIP Capital Insights, our free research library for registered investment advisers and their teams. Request access to read all 13 chapters.
