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Alternative Market Briefing

Private debt fund managers closed 200 funds raising an aggregate of $118bn in 2020

Monday, February 08, 2021

Laxman Pai, Opalesque Asia:

In 2020, private debt fund managers closed 200 funds raising an aggregate of $118bn. This is slightly below the 223 funds closed and $132bn secured in 2019, according to 2021 Preqin Global Private Debt Report.

"Although slightly below 2019 totals, fundraising was robust over 2020 - 200 funds closed raising an aggregate $118bn. Capital concentration intensified, with the 10 largest funds raising 39% of the total, up from 31% in 2019," the report said.

Private debt assets under management (AUM) continued to grow despite the global pandemic. As of June 2020, AUM stood at $887bn, making private debt the third-largest private capital asset class, behind only private equity and real estate.

Special situations and distressed debt funds have been an area of growth, with the proportion of capital for these strategies climbing from 16% in 2009 to 40% in 2020.

Special situations funds in the market have sharply increased, with 79 on the road, a 464% increase from a year ago. The largest distressed debt fund in the market is seeking $15bn in the capital.

There are currently 79 special situations funds in the market, up from 14 in 2019. The largest distressed debt fund on the road is seeking $15bn.

Almost half (47%) of investors Preqin surveyed expect to commit more to the private debt over the next 12 months, with a further 40% maintaining investment levels.

The number and value of private debt deals fell in 2020, but their av......................

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