LSEG LPC tracked US$56.2bn of US middle market debt fundraising in the third quarter, 63% above 2Q25’s US$34.4bn. The 3Q total includes US$44bn raised from private debt funds, comprised of US$30.4bn for generalist private debt funds, US$12bn collected for secondaries funds, and US$1.6bn in special opportunities funds. Meanwhile, middle market CLO issuance accounted for the remaining US$12.2bn of the overall 3Q25 total.
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