Neil Callanan

Neil Callanan is a Bloomberg journalist and managing editor for private companies coverage, with reporting and narration work focused on private markets, private credit, debt, and business finance, including explainers on AI-related pressures in private credit.

Private Credit Faces a Confidence Test as AI Hits Software Loans

Private credit’s roughly $1.8 trillion boom is facing its first major test as a crisis of confidence rather than a broad default cycle, Bloomberg Originals argues. The report says the rapid growth of lending outside banks has left investors questioning private loan marks, limited liquidity in retail-facing funds, and underwriting assumptions around software borrowers whose growth prospects may be undermined by artificial intelligence.

Bloomberg OriginalsMay 8, 20269 min read