Preqin Quarterly Update: Private Debt, Q3 2016
Private debt fundraising was substantially down in Q3 compared with one year ago, with 24 private debt funds securing $11bn globally. North America remained the most prevalent region, with private debt funds focused on the region securing $8.6bn. Although two distressed debt funds reached a final close in the quarter, the strategy surpassed all others in terms of aggregate value – collectively, the two funds secured $4.2bn in commitments. Twelve mezzanine vehicles and five direct lending funds also reached a final close in Q3 with $3.9bn and $2.5bn respectively. The direct lending segment could continue to see opportunity in a questionable credit environment globally.