Industry Insights 03 Jan 2026 views ( )

CSC research finds cross-border private credit poised for surge, but operational complexity may hinder growth momentum

Cross-border private credit transactions are experiencing strong growth opportunities, but operational complexity has become a key barrier. Leading providers of business management and compliance solutions report that as many as 92% of limited partners (LPs) express concern over the complexity of such transactions.

This finding comes from CSC’s latest report, Private Credit 2025: Global Strategies for a $1.5 Trillion Market, highlighting an increasing gap between investors and fund managers as private credit rapidly expands internationally.1

While both LPs and general partners (GPs) remain optimistic about growth in cross-border private credit, there is a clear divergence in operational readiness. Nearly eight in ten GPs (79%) anticipate growth in the sector over the next three years, with more than half (51%) expecting significantly accelerated growth. However, LP sentiment is becoming increasingly cautious—40% of respondents said they declined multiple funds or investment opportunities last year due to operational concerns such as inconsistent reporting standards and unclear risk frameworks.

Bas Coenen, Head of Fund Solutions at CSC Europe, said: “The momentum behind global expansion in private credit is undeniable, but the resulting operational complexity cannot be underestimated. Operating across multiple jurisdictions means navigating intricate reporting requirements, investor expectations, and compliance standards. Even managing just a few markets can prove challenging. The message from investors is clear: confidence in cross-border strategies depends on transparency, regulatory consistency, and flawless execution.”

GPs recognize the operational challenges of cross-border expansion, particularly regarding anti-money laundering (AML) regulations, multi-jurisdictional reporting requirements, and enforcing contractual terms across different legal systems. Today, LP demands for transparency and reporting have become one of the top concerns for managers, second only to the complexity of deal structuring.

At the same time, LPs are shifting their focus toward more granular and consistent data on loan performance and borrower credit quality. These metrics now rank just below loan-level yields and borrower repayment trends, while broader indicators such as liquidity and portfolio risk visibility also depend on these detailed data points.

To meet rising expectations and scale effectively, many GPs are increasing investments in technology upgrades and partnering with specialized service providers. Currently, 82% of GPs rely on third-party loan agencies, with 66% collaborating regularly over the past year and 88% expecting increased usage in the future. LPs strongly support this shift: 92% of respondents believe GPs that outsource to trusted specialists are better equipped to deliver enhanced reporting and risk transparency, especially in complex cross-border environments.

David Kim, Managing Director at CSC North America, said: “Private credit is inherently a hands-on asset class, far more operationally intensive than equity investing. LPs know the relevant data is available, so they’re demanding more—greater transparency, consistency, and granularity. This undoubtedly places real pressure on managers, compelling them to strengthen reporting capabilities and enhance operational frameworks.”

He added: “Today, many managers are seeking partners capable of supporting the entire investment lifecycle—from loan agency and fund administration to special purpose vehicle (SPV) management. CSC is one of the few firms with the scale, expertise, and infrastructure to offer truly end-to-end solutions.”

To download a copy of CSC’s report, Private Credit 2025: Global Strategies for a $1.5 Trillion Market, please click here:  .

1 This research was conducted by CSC in partnership with PureProfile, surveying 500 private capital professionals globally, including 300 GPs and 200 LPs from North America, Europe (including the UK), and the Asia-Pacific region. Respondents hold senior roles in fund management, investment, and risk functions within asset management, pension funds, insurance, and wealth management sectors.

About CSC

CSC is a leading provider of business management and compliance solutions, offering industry-leading expertise and unparalleled global reach to alternative fund managers and capital market participants. Leveraging deep institutional experience and tailored approaches, CSC delivers comprehensive fund administration, trust, agency, and compliance services to support a wide range of private and public market transactions, complex fund strategies, and scalable operations.

A trusted partner to over 70% of companies on the PEI 300 list and 90% of Fortune 500? companies, CSC helps clients navigate complex operational and transactional challenges across more than 140 jurisdictions and various asset classes. With extensive global capabilities, our expert teams deliver customized solutions aligned with each client’s unique needs. Privately held and professionally managed since 1899, we combine global reach, local expertise, and innovative solutions to drive client success.

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