Insights

BlackRock Inc. predicts that the global private debt market will roughly double to $3.5 trillion by 2028, one of the most bullish calls to date on the growth of the industry. The money manager is forecasting that “tectonic shifts” in financial markets will spur more borrowers to seek out private funds for financing, especially as some banks pull back from lending, according to a note published on Thursday by Amanda Lynam, BlackRock’s head of macro credit research.