Private debt fundraising holds up in Q1 2023 In Q1 2023, 35 private debt funds worldwide raised $34.8bn, 90% of the capital raised in Q1 a year earlier, when 51 vehicles raised aggregate capital of $35.4bn. This indicates a slightly slower but still robust pace of fundraising, despite the difficult market and persistently challenging operating…

Distressed debt fundraising up as GPs seek $66.5bn Distressed debt funds are seeing more interest from LPs in the wake of recent bank collapses and a persistently challenging operating environment. While seven distressed debt funds closed in the first quarter of 2023, raising a total of $5.2bn, Preqin is currently tracking 85 distressed debt funds…

Mezzanine debt fundraising boosted by megafunds Mezzanine debt fundraising picked up momentum in the first quarter of 2023, accounting for 65% of total private debt raised in the period. Mezzanine funds raised $20.7bn in Q1 2023, boosted by the closes of Goldman Sachs Asset Management’s Mezzanine Partners VIII fund on $11.7bn and Crescent Credit Solutions…

Private debt deal activity in Europe sees decline Since the start of 2021, private debt numbers have seen a decline in Europe. In the first quarter of 2023, Preqin tracked 23 private debt deals, down from 39 in Q4 last year. In Q1 2022, the asset class saw 51 deals close. While buyouts dominated then,…

Private debt deal activity in North America sees Q1 dip Quarterly private debt deal activity in North America dropped in the first quarter of 2023. Preqin recorded 61 deals over the quarter, with a publicly reported total deal value of $0.1bn, the lowest quarterly levels in deal value in a decade. However, although deal numbers…

Distressed debt funds find opportunities in North America The amount of dry powder available for distressed debt in North America has returned to pre-pandemic levels. Dry powder in the strategy dropped to $67.2bn as of September 2022, down from $71.5bn in 2021. The proportion of available capital to unrealized value has declined from 42% of…

Investors expect increased opportunities in distressed debt There has been a big increase in the proportion of investors seeing distressed debt and special situations as the private debt strategies presenting the best opportunities, according to Preqin’s Investor Outlook: Alternative Assets 2023. While direct lending remains attractive and is likely to continue to be the largest…

Private debt fairly valued according to investors Institutional investors believe private debt to be fairly valued, according to the latest survey for the Preqin Investor Outlook. In November 2022, 74% of respondents to the survey believed private debt was undervalued or fairly valued…. Subscribe to Read MoreAlready a member? Log in here...

Private debt allocation intentions hit seven-year high Institutional investors are satisfied with their private debt allocations and plan to increase them, according to the latest survey for the latest Preqin Investor Outlook. A growing number of investors surveyed by Preqin aim to boost their long-term allocations to private debt… Subscribe to Read MoreAlready a member?

Rising investor interest in special situations and distressed debt An increasing proportion of investors surveyed by Preqin say special situations and distressed present the best opportunities in private debt. According to Preqin’s latest Investor Outlook survey,… Subscribe to Read MoreAlready a member? Log in here...