Preqin Quarterly Update: Private Debt, Q3 2017
Twenty-four private debt funds closed in Q3 2017, securing an aggregate $23bn in global capital commitments, with this figure expected to rise as more data becomes available. The average size of funds closed has more than doubled from this time last year. Direct lenders once again closed the most funds, and secured the most capital among private debt fund types. Dry powder has risen to near-record levels and, despite the typical concerns about fund managers’ ability to deploy existing reserves, managers are continuing to put capital to work in sponsored transactions.