Posted on 10 January 2018

Private Debt breaks fundraising record in 2017

Maximilien Dambax group Head of Private Debt looks at some of the following trends highlighted in the PDI fundraising report.

  • A fundraising record for Private Debt in 2017, with over $180 billion collected by fund managers
  • The emergence of larger fund vehicles evidencing private debt's growing maturity as an established asset class. 

This is indicative of strong investor appetite as more institutions become active in the debt space each year.

Highlights - PDI Fundraising Report 2017

According to the PDI Fund raising report published in January 2018, the Private Debt asset class saw more than $180bn raised globally last year, although the number of fund closings was relatively small.

The previous yearly high was in 2015, when $140.4 billion was raised. The $60 billion increase in 2017 from the amount raised in 2016 is also notable as the average annual increase over the last 4 years was in the region of $18 billion.

One caveat to last year’s impressive figures is that the total amount of fundraising includes Apollo Global Management’s $24.7 billion Fund IX, of which only around 20-25 percent is expected to be invested in debt. Other large funds to have announced closings last year included Lone Star Funds’ Fund X on $5.6 billion; and Intermediate Capital Group’s ICG Senior Debt Partners Fund III on €5.2 billion.  

In essence the latest PDI figures show the emergence of an elite group of larger fund managers who are able to increasingly raise larger funds. 

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