Man Group is planning on more acquisitions and hiring new team members, as part of a push towards private credit, according to a report by Bloomberg. 

The report notes that the hedge fund plans on diversifying and expanding into different credit categories in the coming years to meet client demand for more exposure to private assets, and to account for the shift in corporate borrowing habits.

According to the report, high rates, less bank lending increase private credit appeal. As part of this shift, Man Group acquired Vargon, a private credit manager in July of this year.