APAC-focused private debt fundraising moderates after blockbuster fund closes Aggregate capital raised by APAC-focused private debt funds fell in 2023 amid uncertainties around interest rates. Fifteen funds raised $3.2bn to date this year, in contrast to 2022, when 41 funds raised $11.7bn, and 2021, when 42 funds raised $10.6bn…. Subscribe to Read MoreAlready a member?
A Disappointing Q3 Download PitchBook’s Report here. The first half of the year showed teasingly positive trends for private equity, at least from a data perspective. The third quarter didn’t live up to those expectation. PitchBook’s Q3 US PE Breakdown saw a decline in dealmaking activity—below the $200 billion mark for the first time since COVID—and deal value…
Near-term BDC loan maturities are limited Credit quality is being closely watched in the private credit markets amid the large increase in interest rates during the last eighteen months. So far, the impact on borrowers from higher rates has not produced any major uptick in defaults…. Subscribe to Read MoreAlready a member? Log in here...
South Korea sees private debt interest in medical devices industry Private debt is growing fast in South Korea and shows no signs of slowing. Despite the relative immaturity of the market, a number of US private debt firms have set up shop in the country. There are now 119 active PD investors in Korea. Deal…
Patience needed for next NPL wave No-one should expect a sudden 2008-style surge, but economic headwinds are expected to eventually translate to a promising opportunity set. Non-performing loans have been one of the hottest topics in the private debt space ever since the 2008 financial crisis led to an unprecedented movement of bad debts off…
Distressed debt fundraising Download PitchBook’s Report here. While private debt fundraising had a strong first half, distressed debt fundraising was exempt from that trend, according to PitchBook’s H1 2023 Global Private Debt Report. It’s a sudden drop-off from a trend that goes back more than a decade. Through H1, three distressed debt funds have closed worth…
Syndicated middle market volume sinks 31% in 3Q23 US syndicated middle market loan volume totaled US$23.6bn in 3Q23, 31% lower than 2Q23 and 41% lower year-over-year. 3Q23’s total was the lowest since 3Q20. Breaking out syndicated middle market lending, non-sponsored volume of US$18.2bn was 34% lower quarter-over-quarter, while sponsored issuance of US$5.4bn was 23% lower…
Increase in direct lending funds in market in 2023 There were 28% more direct lending funds raising capital in June 2023 than there were a year earlier. Direct lending funds accounted for nearly half of the number of funds and capital raised within private debt in the second quarter of 2023. That proportion may rise…
The future is artificial A survey in our Future of Private Debt report 2023 reveals where AI is having an impact in the private funds industry. Nearly one-third of GPs identify due diligence and data analysis as the business areas in which artificial intelligence will have the greatest impact over the next five years, according…
Another strong year for private debt Download PitchBook’s Report here. Private debt fundraising is off to a strong start, according to PitchBook’s just-released H1 2023 Global Private Debt Report. At halftime, almost $95 billion has been raised across 74 funds. That pace is ahead of last year’s, which makes us confident that fundraising will eclipse $200…