Investment banking firm Lincoln International has launched a strategic collaboration with S&P Dow Jones Indices to launch the S&P Lincoln Senior Debt Index Series, which will be used to evaluate the performance of private credit investments.
The indices include the US S&P Lincoln Senior Debt Index and Europe S&P Lincoln Senior Debt Index, which will first be reported quarterly and then monthly before the end of 2026.
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The firms said the indices “address a critical need of private markets participants: transparent, independently calculated benchmarks that can be used to evaluate performance of private credit investments”.
The indices will aim to track the fair value of direct lending investments across fund clients in the US and Europe to provide asset managers, limited partners, plan sponsors, other institutional investors and retail investors with a credible reference point for benchmarking returns, assessing risk profiles and making informed allocation decisions.
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“Private credit has grown into a multi-trillion-dollar asset class, but institutional investors have historically lacked the transparent, rules-based benchmarks that exist in public markets,” said Rob Brown, chief executive of Lincoln International.
“Through the launch of this collaboration, we have an opportunity to bring our comprehensive private market data to a much larger universe, further bolstering our position as the leading global investment bank serving the private capital markets.”
