The Alternative Credit Council (ACC), an affiliate of AIMA that represents firms in the private credit and direct lending space, was formed in 2014. It currently represents over 250 members that manage $600bn of private credit assets globally. It has its own distinct brand and is overseen by a board of ACC members but ultimately is governed by the AIMA Council. ACC members provide an additional source of funding in the economy. They support housing projects, commercial real estate developments, infrastructure programmes, businesses with short-term liquidity issues and trade financing arrangements as well as other forms of credit provision. The ACC’s core objectives are to provide guidance to its members about key trends, provide input on policy matters and support wider advocacy efforts. Alternative credit, private debt or direct lending funds have grown substantially in recent years and are an important and influential segment of the asset management industry. The ACC seeks to explain the value of private credit by highlighting the sector's wider economic and financial stability benefits.