Clearwater Analytics released its first comprehensive study on how private credit has reshaped institutional portfolios, drawing on holdings and transactions data from its platform spanning $10 trillion in institutional assets across 60 asset classes. The report found that median insurer allocations to private credit have grown 110% since 2021 to reach 9% of total portfolio assets, while corporate treasurers have climbed to a median allocation of 2%. It challenged the narrative of systemic contagion, instead identifying risks as idiosyncratic and concentrated on specific balance sheets, coining the term cross-contamination risk. The study also highlighted that technology is closing the infrastructure gap, providing the look-through visibility and daily reconciliation needed to manage such risks.
Clearwater Analytics Holdings IncClearwater Analytics released its own study, showcasing its platform's capabilities and data, which can attract clients and demonstrate thought leadership.