By 2002 the share of US leveraged loans by institutional investors had surpassed 60%; it took Europe twelve more years to reach the same point.
Institutional Investors’ Share of the Primary Market

Source: S&P Capital IQ; 2009 date not meaningful
Latest news
PE fund distribution rates
September 8, 2026
Following 2021, buyout distribution rates have fallen to roughly 10% to 15% below the 25-year average.
Sub line pricing flattens
September 8, 2026
A report on the topic also finds that investors are less concerned by leverage in NAV loans. Pricing for subscription…