2019 Private Debt Fundraising & Deals Update
More than 200 private debt funds closed in each year from 2015 to 2018. But 2019 fundraising lagged, and at the end of the year just 152 funds have reached a final close. Fundraising has also dropped to $107bn, the lowest annual total since 2015. Lower fundraising means dry powder dropped from $292bn at the end of 2018 to $261bn a year later.
Despite these difficulties, fund managers continue to launch new vehicles, and the private debt fundraising marketplace is now more crowded than ever. At the start of 2020, there are 436 funds seeking a total of $192bn from investors, up from the 399 funds that sought $168bn at the start of 2019. Unless fundraising rebounds significantly in 2020, it seems likely that many of these funds face a long road to raise capital.
“Private debt has been the expansion story of the past decade, but the shine has worn off this narrative in 2019.” – Tom Carr, Head of Private Debt
Read our factsheet to view the top-level figures for 2019 fundraising, deals, and dry powder.