Alternative Fund Advisors Releases 2025 RIA Private Credit Usage Study

58% of RIAs plan to increase private credit allocations in 2026, and increasingly diversify across multiple sectors. Asset-based and specialty finance strategies are the fastest-growing diversifiers.

BOSTON, Feb. 3, 2026 /PRNewswire/ -- Alternative Fund Advisors ("AFA") today released findings from its 2025 RIA Private Credit Usage Study, showing that private credit has become a core allocation for registered investment advisors (RIAs) and is poised for continued growth in 2026. The survey includes responses from investment professionals at firms of all sizes across the U.S.

70% of RIAs participating in the study currently allocate to private credit, up from 62% in 2024, and 58% plan to increase allocations in 2026, while just 11% anticipate a decrease.

"What stands out is not just the growth in allocations, but how advisors are deploying capital," said Marco Hanig, CEO and co-founder of Alternative Fund Advisors. "As advisors look ahead to 2026, the focus has shifted toward diversification across different sectors of the private credit market, especially asset-based and specialty finance strategies."

Private credit is increasingly viewed as a high-conviction allocation: more than 70% of firms allocate at least 4% of client portfolios, and nearly one-third allocate 8% or more. RIAs are expanding diversification, with nearly 90% now allocating across two or more private credit funds, and the use of four or more funds rising sharply year-over-year. Interval funds continue to lead adoption, with 80% of RIAs using them in 2025, up from 58% in 2024.

Diversification is accelerating at the strategy level. Direct lending remains the most widely used strategy, while allocations to asset-based lending and specialty finance grew 23% and 12% year- over-year, reflecting interest in diversifying across different types of return streams and risks. Looking ahead, direct lending and asset-based lending are the leading strategies RIAs plan to add in 2026.

"RIAs are applying the same discipline to private credit as for traditional asset classes," Hanig added. "As the asset class matures, broad exposure is being replaced with nuanced allocations across multiple sub-sectors that enhances diversification."

The AFA study outlines nine key insights for private credit allocators and the broader industry to consider in 2026.

The full survey report is available at https://bit.ly/4qlHIt4

About the Survey
The survey was conducted by Excella, Inc., an independent marketing firm, between October 20 and November 21, 2025. A total of 121 professionals from RIA firms across the U.S. participated, including individuals responsible for researching and selecting investments for client portfolios.

About Alternative Fund Advisors
Alternative Fund Advisors provides financial advisors and family offices with efficient and convenient access to private investments through interval funds.

To learn more, please visit www.alternativefundadvisors.com.

Media Contact:
Ani Yessaillian | 617.620.8103 | [email protected]

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SOURCE Alternative Fund Advisors