Press release: Alternative Credit Council announces its first roster of global Sponsoring Partners and a new dedicated website for private credit members
Published: 17 April 2019
The Alternative Credit Council (‘the ACC’) has secured the support of nine major corporate sponsors and has launched a new dedicated website for its growing membership. Since its formal establishment in 2016, the ACC has promoted sustainable growth of private credit and direct lending activities. With its expanding suite of activities across policy, research and thought leadership, the ACC has become a trusted source of industry knowledge and leading advocate for lowering barriers to non-bank finance around the world.
As the only organisation of its kind representing the industry in this space, the ACC represents 170 asset managers and industry service providers who use its global network and dedicated infrastructure to support their business. The ACC’s new corporate Sponsoring Partners include global law firms Allen & Overy, Dechert, Macfarlanes and Simmons & Simmons, international audit and accounting firms EY and PwC, and major fund administrators Bank of New York Mellon, Citco and SS&C.
The sponsors’ contribution will be recognised in the newly launched and re-designed website (www.lendingforgrowth.org), which provides members with access to updates on the ACC’s advocacy work, leading industry research and our global events programme.
Jiri Krol, Global Head of the ACC, said: “The real economy needs a diversity of financing sources and we are far from achieving that goal. This is why the ACC and our community are extremely grateful for having gained such long-term oriented partners who understand the strategic challenges and the opportunities facing our industry.
“The expertise and knowledge of our Sponsoring Partners will allow us to deliver an even broader set of services, events and activities. The launch of our new dedicated online resource for members, investors and the public at large is a great example of that. Our aim is to deliver a better understanding of the rapidly growing private credit universe and with that, hopefully a better operating environment for borrowers, lenders and investors alike.”
Notes to Editors
About the Alternative Credit Council
The Alternative Credit Council (ACC) is the global body representing asset management firms in the private credit and direct lending space. It currently represents over 170 members that manage $400bn of private credit assets.
The ACC is an affiliate of AIMA (the Alternative Investment Management Association). It is governed by its own board which ultimately reports to the AIMA Council.
ACC members provide an important source of funding to the economy. They finance mid-market corporates, SMEs, commercial and residential real estate developments, infrastructure and the trade and receivables business.
The ACC provides guidance on policy and regulatory matters, supports wider advocacy and educational efforts and produces industry research to strengthen the sector's sustainability and economic and financial benefits.
Alternative credit, private debt or direct lending funds have grown substantially in recent years and are becoming a key segment of the asset management industry. The ACC seeks to explain the value of private credit by highlighting the sector's wider economic and financial stability benefits.
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