2025: The State of Private Credit Technology

Jul 31, 2025

Kevin Hsu

Company email

I confirm that I have read the Privacy Policy and Terms of Use.

In a recent survey of 150 private credit firms, conducted by Armentum Partners and Lumonic, the majority reported still running on Excel. Technology adoption has been slow:

• Only 5% have integrated AI into underwriting or loan management
• Just 10% use third-party tools for underwriting or portfolio management

Underlying the slow adoption are three key barriers: a desire for all-in-one solutions, skepticism about AI accuracy, and a conservative culture viewing early adoption as risky.

Download the report to read more on what's working and where the industry is headed.

Origination13

Capital relief18

Secondary7

Bank sources the loan, private credit fund holds the asset.

Citigroup / Apollo$25B committed

Largest relationship of its kind. Targets corporate and sponsor-backed loans in North America. Participation from Mubadala and Athene. Sep 2024.

Corporate lendingSponsor finance

JPMorgan / FS, Cliffwater, Shenkman+$65B committed

$10B balance sheet opened Oct 2024. Side-by-side model: JPMorgan originates, private credit firms invest on deals without upfront capital. Increased to $50B + $15B in Feb 2025.

Side-by-sideNon-sponsored

Wells Fargo / Centerbridge$5B+ committed

First large-scale bank-private credit JV. $2.5B equity commitments. ADIA and BCI anchored. Non-sponsored middle market. Sep 2023.

JVNon-sponsored MM

SocGen / Brookfield€10B committed

Real assets credit: power, renewables, data, midstream, transportation. Fund finance. Insurance investor base. Sep 2023.

Real assetsFund finance

BNP Paribas / Apollo (ATLAS SP)$5B committed

Securitization-focused. Investment-grade asset-backed credit. Capital markets collaboration. Sep 2024.

SecuritizationIG ABF

Barclays / AGL Credit Management

AGL Private Credit platform. Large sponsor-backed corporates. ADIA anchor commitment. Apr 2024.