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Alternative Market Briefing

Luxembourg: private debt fund AuM grows 40% in two years to $61.7bn

Monday, December 02, 2019

Laxman Pai, Opalesque Asia:

The private debt fund market in Luxembourg has steadily grown over the last few years and 2019 is no exception. Total assets under management (AuM) has increased by 40% in two years - from EUR 40 billion in 2017 to EUR 56 billion ($61.7bn ) as of June 2019.

"These numbers reflect the debt fund market's success, which we expect to continue in the coming years," said KPMG Private debt fund survey 2019.

One interesting revelation from this year's survey is that the percentage of loan funds set up as reserved alternative investment funds (RAIFs) has rocketed.

While specialized investment funds (SIFs) still dominate the market at 71%, 20% of funds were set up as RAIFs as of June 2019 compared to 13% in 2018. Meaning that the number of RAIFs in the private debt fund market has almost doubled in only a year!

"The regulatory reform agenda has continued its steady advance. Today's landscape reflects current policy priorities: financial stability and systemic risk, maintaining an open and well-functioning EU financial market and promoting sustainable finance. Debt fund managers should keep a close eye on regulatory developments as they will likely impact the industry," said David Capocci, Head of Alternative Investments.

Most funds range up to EUR 50 million in size. Notably, mid-size funds - i.e. those with a net asset value of between EUR 200 million and EUR 500 million - represent 24% of the total number of loan fu......................

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