52% of Retirement Savers Want Private Credit Access

TL;DR: More than half of US workplace retirement plan participants, 52%, say they would invest in private equity and private debt if their plan offered them, according to the Schroders 2026 US Retirement Survey. That is up from 36% in 2024. The figure measures stated interest among 615 participants, not purchases.

Schroders published the 2026 US Retirement Survey on October 29, 2026. The poll ran from March 20 to April 15, 2026, among 1,500 US investors aged 30 to 79, and 615 of them take part in a workplace plan. The question was conditional. Savers were asked what they'd do if the option existed, and for most of them it doesn't yet.

A stated preference and a funded account are different things. The gap between them is where plan design, fees and fiduciary caution sit.

How fast has interest in private credit and private equity grown?

Interest has risen every year for three years. Per Schroders, it stands at 52% in 2026, up from 45% in 2025 and 36% in 2024. Among those interested, 81% say they would raise their contribution rate if their plan offered private assets, up from 77% a year earlier.

Expectations and self-assessed knowledge moved the same way.

Measure (plan participants)	2024	2025	2026
Would invest in private equity and debt if offered	36%	45%	52%
Expect access within five years	not reported in release	30%	42%
Call themselves very knowledgeable	not reported in release	12%	23%

The five-year and knowledge figures come from the same Schroders release. A self-rating of "very knowledgeable" is an opinion about oneself. The release also prints 26% who say they're not too knowledgeable and 11% who say they're not at all knowledgeable.

How much would savers actually put into private assets?

Many would start small. Alternative Credit Investor reports that 49% of interested participants would allocate less than 10% of their savings, while 39% would invest between 10% and 15%. Most of the money in this survey would go in as a slice next to stocks and bonds.

What has to happen before savers can buy?

The plan has to offer it. In March 2026, the Department of Labor proposed a regulation that would set "safe harbors" for plan fiduciaries choosing alternative investment options, InvestmentNews reports. The outlet says many in the industry see it as a critical step toward bringing private markets into the retirement mainstream.

The sources reviewed here don't say when, or whether, that proposal becomes final. Until it does, the survey describes demand, and the supply side is still being written.

What should you check before private credit shows up in your plan?

Start with the downside. Private credit funds lend directly to companies, and the terms that decide how you lose money are liquidity, fees and use. Before you put a dollar in, find the redemption limits and read them.

Fees deserve their own question. If a plan offers private credit through a fund, you'd pay that fund's own fees, and whatever wrapper the plan uses may add another layer on top. Ask for both numbers.

Our earlier reporting shows how these terms behave under stress. See what happened when Apollo gated a $26 billion private credit fund and how redemption requests hit Cliffwater's CCLFX. For the lending side, Private Credit 2026: Yields, Risks, and How to Access It covers the structure. Default data is its own debate, and three indices give three very different numbers.

If you hold a rollover IRA, you aren't waiting on an employer menu in the same way. The same fee and redemption questions still apply to anything you buy.

The survey shows savers aren't blind to the trade-off. The release says participants "would proceed with caution," even as 78% believe private assets can improve diversification and 77% see a chance at higher returns. Those are beliefs. Neither figure says private assets delivered either one inside a retirement plan.

Common mistakes

Reading 52% as a purchase count is the easy one. It's the share who said they would invest if offered, drawn from 615 plan participants.

Rising interest also gets mistaken for proof that the product suits you. Demand tells you what people want. It says nothing about fees, lockups or what a fund does in a bad year.

And if you judge a fund by its headline yield, you've skipped the part that matters. Ask for realized returns over a full cycle and read the redemption terms before the pitch.

FAQ

What is a private credit market? It's the market where non-bank lenders make loans directly to companies instead of selling them as public bonds. Our explainer, Private Credit in 2026, covers how it works and where the risks sit.

Does the survey show retirement savers are buying private credit? No. It records what participants say they would do if their plan offered private equity and private debt. It doesn't count purchases, and most plans don't offer these assets today.

Would savers put most of their money in private assets? Not according to this poll. Alternative Credit Investor reports that 49% of interested participants would allocate less than 10%.

When might private assets reach 401(k) menus? No one knows yet. In the survey, 42% of participants expect access within five years, according to Schroders. That's an expectation, not a schedule.

What to do today

Email your plan administrator and ask whether the plan is considering private credit or private equity options. If it is, ask for the fee schedule and the redemption terms in writing before you decide anything. For a wider primer first, read what accredited investors need to know about the private credit market. To get the next retirement and private credit story with the downside first, subscribe to the free AIN briefing.

Educational content only. Not investment, tax, or legal advice. Not an offer or solicitation to buy or sell securities. Past performance does not guarantee future results. Private-market investments are illiquid and involve risk of loss, including total loss of capital. Consult qualified advisers. Angel Investors Network is not a broker-dealer or investment adviser.