Total middle market loan volume for 2024 at $51.3 billion was the highest in eight years. Source: Fitch Ratings, Lev Fin Insights.

BSL defaults at 3Q 2024 were more than six times those in private credit.  Source: Proskauer (Private Credit), Fitch Ratings (BSL), as of September 30, 2024.

Direct lending’s share of buyout financings now dwarfs that of the bank market. Source: LSEG LPC

Three quarters of M&A activity in 2024 approached full-year volume for 2023. Source: PitchBook

December’s job adds topped expectations, suggesting slower Fed rate cuts. Source: WSJ, The Daily Shot

Investment grade corporate bond spreads are near record lows. Source: Federal Reserve Economic Data (FRED) – St. Louis Fed, The Daily Shot

After three flat-to-down years, LP’s look to be gearing up for 2025. Source: Private Equity International’s LP Perspectives 2025 Study

The majority of GPs in Europe and North America offer equity co-investment programs. Source: Dechert’s 2025 Global Private Equity Outlook. (Past performance is no guarantee of future results.)

Since 2020 the share of GPs raising larger funds has been growing. Source: PitchBook(Past performance is no guarantee of future results.)

The absence of realizations has hampered distributions to LPs. Source: Burgiss/MSCI(Past performance is no guarantee of future results.)