Global private debt dry powder ($B)

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Halfway through 2024, private debt dry powder sat at $566.8 billion—a new high—and is on track for its second consecutive year of growth. The dry powder is through June 30 due to late reporting from GPs and LPs. The asset class’s robust fundraising supported the growth over the past couple years. Despite the slight fundraising slowdown in 2024, dry powder’s ascent has not been affected as it has in other asset classes, such as PE. Moreover, dry powder’s share of AUM now sits at 31.1%, which aligns with each of the last two years.