Private Markets Giant Hamilton Lane Says Credit Fears Are Overblown

Co-CEO Erik Hirsch says his firm's data on thousands of funds and portfolio companies shows defaults remain low and leverage flat.

Published on Feb. 10, 2026

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Hamilton Lane, a major player in private markets with $860 billion in assets under advisement and $145 billion in funds and separate accounts, says its data on over 68,000 private equity, credit, and other funds, as well as 178,000 portfolio companies, shows that defaults remain low and leverage is flat, contrary to widespread concerns about the growth of finance outside of public markets.

Why it matters

As a leading private markets investment firm, Hamilton Lane's data and insights provide a valuable window into the health and trends of the broader private markets industry, which has grown significantly in recent years and now accounts for a larger share of overall financial activity.

The details

Hamilton Lane has compiled extensive data on private markets over the past three decades, including metrics on more than 68,000 funds and the operations of over 178,000 portfolio companies. Co-CEO Erik Hirsch says this data shows that contrary to widespread concerns, defaults remain low and leverage is flat in the private markets.

  • Hamilton Lane has compiled its private markets data over the past three decades.

The players

Hamilton Lane

A major player in private markets with $860 billion in assets under advisement and $145 billion in funds and separate accounts.

Erik Hirsch

The co-Chief Executive Officer of Hamilton Lane, who has a broad and deep view into buyouts and private credit based on the firm's extensive data.

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What they’re saying

“As a result, co-Chief Executive Officer Erik Hirsch has a broad and deep view into buyouts and private credit—at a moment when many are worried about the growth of finance outside of public markets.”

— Erik Hirsch, Co-Chief Executive Officer (Bloomberg)

The takeaway

Hamilton Lane's data and insights provide a valuable perspective on the health of the broader private markets industry, which has grown significantly in recent years, countering widespread concerns about the growth of finance outside of public markets.