In cooperation with Ropes & Gray, Acuris Studios surveyed 100 senior executives in U.S.‑ and U.K.‑based credit funds at the end of February 2020 and in the first week of March 2020. Shortly afterward, lockdown measures were introduced in the U.S. and U.K. to mitigate the spread of the coronavirus. A follow-up survey of 30 of the original respondents was carried out in September 2020 to identify any changes in the respondents’ attitudes and strategies over the six‑month period of market disruptions. The resulting report analyzes findings from both surveys, identifies trends and provides insights from Ropes & Gray partners into investments strategies, fund structures and conflicts of interest. This article summarizes key takeaways and insights relevant to PE and private credit sponsors. See our two-part series “Ropes & Gray Survey and Forum Consider Credit Fund Structures, Leverage, Conflicts of Interest and Challenging Environment”: Part One (Jul. 19, 2018); and Part Two (Jul. 26, 2018).