--- title: Private Credit’s Key Diversifier description: Bank retrenchment has fueled a $6T asset-based finance market. Learn why ABF is an underused, diversified opportunity in private credit. image: https://content.investmentsandwealth.org/hubfs/private-credits-key-thb.png --- [Skip to content](https://content.investmentsandwealth.org/publication/private-credits-key-diversifier#main-content) [![Investments & Wealth Institute ](https://content.investmentsandwealth.org/hubfs/content-hub/iwi_logo_w294_h46.svg "Investments & Wealth Institute ")](https://investmentsandwealth.org/) Explore - [All Content](https://4812204.hs-sites.com/content-hub) - [Video](https://4812204.hs-sites.com/content-hub?type=Video) - [eBook](https://4812204.hs-sites.com/content-hub?type=eBook) - [Case Study](https://4812204.hs-sites.com/content-hub?type=Case+Study) - [Blog](https://4812204.hs-sites.com/content-hub?type=Blog) - [Podcasts](https://4812204.hs-sites.com/content-hub?type=podcast) - [Webinars](https://4812204.hs-sites.com/content-hub?type=webinar) - [Find An Advisor](https://www.investmenthelp.org/) - [Contact](https://investmentsandwealth.org/contact-us) - [My Dashboard](https://portal.investmentsandwealth.org/s/login/?startURL=%2Fs%2Fhome-page) - Certifications - [CIMA](https://investmentsandwealth.org/certifications/cima-certification) - [CPWA](https://investmentsandwealth.org/certifications/cpwa-certification) - [RMA](https://investmentsandwealth.org/certifications/rma-certification) - [Help Me Choose](https://investmentsandwealth.org/certifications/compare-iwi-certifications) - [Online Education](https://investmentsandwealth.org/online-learning-financial-advisor-ce) - [Conferences & Events](https://investmentsandwealth.org/financial-advisor-conferences-events) - [Experience 2026](https://experience.investmentsandwealth.org) - [Membership](https://investmentsandwealth.org/membership) - [Publications & Resources](https://content.investmentsandwealth.org/) - [Partner Solutions](https://investmentsandwealth.org/partner-and-sponsor) - [About](https://investmentsandwealth.org/about/mission-purpose-value) Investments & Wealth Review - May/June 2025 # Private Credit’s Key Diversifier ASSET-BASED FINANCE Admin  In the years following the Global Financial Crisis, tighter bank regulation reshaped global lending—creating a durable opening for private credit managers. While direct lending has captured much of the spotlight, a broader and often overlooked opportunity has emerged in asset-based finance (ABF), also known as specialty finance. Spanning consumer, residential, and commercial lending backed by diverse collateral, ABF underpins everyday economic activity and now represents a multi-trillion-dollar market larger than direct lending and rivaling private equity. This article examines why ABF has remained underrepresented in portfolios, how bank disintermediation is accelerating its growth, and why its credit-remote structures, amortizing cash flows, and inflation-sensitive features may offer compelling diversification benefits for investors seeking alternatives beyond corporate credit.  Instant Access ## Read the Full Publication Our Members receive new publications by mail and in the Membership Newsletter. For immediate access—or if you’re not a member—complete the form below. ## About Investments & Wealth Review *Investments & Wealth Review* is a bimonthly magazine, written by award-winning authors from academic institutions and leading financial firms. Immerse yourself in current industry news and thought-provoking articles on the investment, legal, regulatory, business development, retirement, and wealth management topics that matter most to you and your clients. [![white_logo_horizontal 1](https://content.investmentsandwealth.org/hubfs/Assets%20-%20LP/white_logo_horizontal%201.png)](https://content.investmentsandwealth.org/) #### Get Certified - [Compare Certifications](https://investmentsandwealth.org/certifications/compare-iwi-certifications) - [CIMA Certification](https://investmentsandwealth.org/certifications/cima-certification) - [CPWA Certification](https://investmentsandwealth.org/certifications/cpwa-certification) - [RMA Certification](https://investmentsandwealth.org/certifications/rma-certification) #### About us - [About Us](https://investmentsandwealth.org/about) - [Board of Directors](https://investmentsandwealth.org/about/governance) - [Leadership Team](https://investmentsandwealth.org/about/leadership-team) - [Newsroom](https://investmentsandwealth.org/advisor-publications/newsroom) - [Careers](https://investmentsandwealth.org/institute-careers) - [Privacy Policy](https://investmentsandwealth.org/privacy-policy) #### Support - [Contact Us](https://investmentsandwealth.org/contact-us) - [File a Complaint](https://investmentsandwealth.org/about/governance/report-or-file-a-complaint) © Copyright 2026 by Investments & Wealth Institute ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Admin", "url" : "https://content.investmentsandwealth.org/publication/author/admin" }, "dateModified" : "2026-03-11T15:22:26.401Z", "datePublished" : "2026-03-11T15:22:26.000Z", "headline" : "Private Credit’s Key Diversifier", "image" : [ "https://content.investmentsandwealth.org/hubfs/private-credits-key-thb.png" ], "mainEntityOfPage" : { "@id" : "https://content.investmentsandwealth.org/publication/private-credits-key-diversifier", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://content.investmentsandwealth.org/hubfs/IWI%20Logos/IWI%20Logo%20Horizontal/180227_4C_LOGO_Horizontal.png" }, "name" : "Investments & Wealth Institute" } } ```