Private credit has grown into a $40 trillion market and can offer yield, diversification, and income that public markets struggle to deliver. Rather than committing to a fund at inception, credit secondaries can allow investors to gain exposure to seasoned, performing portfolios — often with greater visibility into underlying assets at the time of investment and the potential for earlier distributions. For investors building or scaling a private credit allocation, credit secondaries can serve as a complementary sleeve alongside primary commitments: one that adds diversification across vintages, managers and deal types from day one.