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Laxman Pai, Opalesque Asia: In the first six months of 2022, 66 private debt funds raised a total of $82 billion-compared with the roughly $93 billion collected across 130 vehicles in the same period a year ago, said a study.
According to PitchBook's H1 2022 Global Private Debt Report, private debt fundraising has slowed in 2022. "While the year ended June 30 is still in line with 2021's record-setting activity, H1's total of $82 billion in commitments accounts for less than 40% of that trailing 12-month figure," it said.
Global private debt fundraising has slowed down slightly this year, tailing off from last year's record-setting pace, the report pointed out.
Direct lending, the largest private debt category, represented over a third of capital raised in the first six months of this year. Other strategies-in particular credit special situations and real-estate debt-also received strong investor interest during that period.
The private equity market's growth is expected to spur private debt fundraising, as increasingly large PE deal sizes and purchase price multiples provide opportunities for direct lenders.
North America has accounted for more than 88% of the capital raised this year, reclaiming ground from Europe-headquartered funds, which held a 31% share in 2021.
The leveraged loans and high-yield bond markets have struggled in 2022, according to LCD, with direct lenders stepping up in both the US and Europe to provide borr...................... To view our full article Click here
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