Private Debt Intelligence – 2/14/2022
Special situations funds raise more capital through the pandemic
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North America-focused fundraising for private debt hit new highs during the pandemic, with $105.7bn raised in 2020 and $128.6bn in 2021. Special situations funds, which finance specific events, such as mergers and acquisitions, raised a record $23.4bn of capital for investment in North America in 2020. This decreased to $15.2bn in 2021, though that was still the third highest annual total. Returns from the strategy have been the highest in private debt, with a median net IRR of 11.68% for funds of vintage 2009-18, though variance is also the highest, reflecting the higher risk-return profile.
(*All values in US dollars)
(Past performance is no guarantee of future results.)
Contact: Megan Harris
megan.harris@preqin.com
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