The LMA is pleased to publish the second annual Fund Finance Intelligence Survey Report, in partnership with The Drawdown. 

Based on responses from 91 lenders, borrowers, and advisers across EMEA, the report provides a snapshot of the current market landscape. Developed with industry experts, the survey aims to drive greater transparency on the size, subsets and features of this rapidly evolving, but private market.   

We hope the survey enhances market understanding and contributes to engagement with regulators and wider stakeholders. 

The House of Lords Financial Services Regulation Committee has published its landmark report, “Private markets: Unknown unknowns,” highlighting the rapid growth and increasing complexity of global private markets, particularly private credit and equity. The report underscores both the opportunities and risks for the UK as a leading financial centre, calling for proactive regulatory oversight and enhanced data transparency. The Loan Market Association (LMA) welcomes the Committee’s recommendations and reaffirms its commitment to supporting market integrity, innovation, and financial stability.

To speak with us about this report, please contact Leyla.ghaffar-zadeh@lma.eu.com.

On 21 November 2025, we submitted a high-level response to the FCA’s consultation on progressing fund tokenisation.

We believe tokenisation presents a significant opportunity for both funds and loan markets.

To utilise these benefits, we have urged for continued dialogue and collaboration between regulators and industry participants to ensure regulatory frameworks keep pace with technological innovation.