North American private debt AUM growth vs. Europe
Up until the Global Financial Crisis, the majority of Europe-focused financing came from banks. After 2008, borrowers were forced to turn to other sources of debt finance as banks tightened the purse strings. Since then, the private debt industry in Europe has grown a lot, with AUM increasing more than tenfold from $30bn at the end of 2008 to $333bn by March 2021.
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