L&G cheers push into private credit as profit jumpsL&G got a boost from asset managementLegal & General cheered a rise in profit amid a greater push into private credit by its asset management arm. The FTSE 100 firm toasted the “continued fundraising success” across its private markets investments as it vowed to increase investment over the next two years. Total private markets assets under management (AUM) jumped by more than a fifth to £79bn during the period, L&G said, including growth across private credit, real estate and infrastructure funds. “The continued expansion of private markets demonstrates the growing depth and diversification of the platform,” L&G said. “Growth across private credit, real estate and infrastructure funds…strengthens L&G’s institutional and wealth proposition and supports the longer-term shift towards higher margin, capital-light growth.”