The Bank of England (BoE) published its latest financial stability report, which will confirm that it will be running a private markets system-wide exploratory stress test (Private Market SWES) in 2026.
In response to this news, AIMA’s private credit affiliate, the Alternative Credit Council (ACC), has provided the following statement.
Jiří Król, deputy CEO of AIMA and global head of the Alternative Credit Council, said in an emailed statement: “With public interest in private markets growing, this exercise offers a timely and constructive way to build a clearer evidence base around how the sector, and other parts of the corporate finance markets, might respond under severe but plausible stress.
“Leading member firms have voluntarily agreed to participate, demonstrating the industry’s responsible approach to transparency, risk management, and maintaining trust in a rapidly expanding source of financing for the real economy.
“Having contributed to the design phase, we stand ready to continue supporting the Bank’s work and to ensure that the exercise strengthens informed dialogue between policymakers and market participants.”
The Financial Times reported that Blackstone, Apollo, Ares Management, CVC and KKR have agreed to participate in the SWES, according to people briefed on the matter.