Antares Capital – Credit Market Survey, Mid-Year 2025

The main theme of the report is the analysis of the credit market at mid-year 2025, including the outlook and expectations of market participants.

Key findings include: Despite macroeconomic challenges, interest in deals remains resilient, and the second half of 2025 promises to be more active than expected. Portfolio companies and private equity funds are actively pursuing mergers and acquisitions (M&A) despite valuation challenges and regulatory uncertainty. Most companies are expected to show moderate or strong revenue and EBITDA growth in 2025, despite reduced optimism about U.S. economic growth. The industrial sector remains attractive for new investments despite rising tariffs as a risk to investment strategy.