Canada calling

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The Canadian market is relatively small but trends point to significant future growth.

For a long time, a handful of domestic banks have dominated the private debt market in Canada. But that is slowly starting to change. Fund managers, both local and foreign, want a bigger piece of the pie and are beefing up their presence in the country.

As private debt continues to surge worldwide, the market in Canada is still relatively small. Last year, Canadian private debt managers raised $3.52 billion, a mere fraction of the $122.3 billion raised by their US counterparts, according to Private Debt Investor data. Nevertheless, the figures have been growing in recent years.