The hiatus in global bond markets could accelerate the move by some investors into private debt, said a study. According to Preqin Pro, so far this year, a total of $174bn has been raised for 141 private debt funds globally.

"This compares favorably with $178bn in the whole of 2020 (a record 284 funds), and the record total of $215bn raised in 2021 (273 fund