The good news for the U.S. economy and American workers is that there’s a massive capital investment boom driving economic growth and technology innovation. We all know about the boom in AI and data centers, but the need is deeper, broader and more consequential. Energy transition and utility expansion, infrastructure, and advanced manufacturing all require significant amounts of capital, and the private credit industry has done its fair shares to finance this next industrial revolution and America’s competitiveness.
The less good news is that this boom is so capital-intensive that we are all collectively realizing that no single market—public equities, public credit, or private credit—can finance it alone.
