Daily Analytic: Services and healthcare sectors see most loans added to non-accrual status in 1Q24
The weighted average non-accrual rate for public and private BDCs combined ticked down to 1.39% in 1Q24 from 1.50% in the prior quarter. On the other hand, BDC net realized losses trended higher to around US$550m in 1Q24, up from US$164m in 4Q23. On a dollar level, a total of US$1.04bn of loans were added to non-accrual status in 1Q24. The sectors which saw the most loans placed on non-accrual in 1Q24 was services (US$229m), healthcare (US$139m), manufacturing (US$135m) and beverage, food & tobacco processing (US$134m).
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Top 50 BDCs Accounted for 75% of Nonaccrual Loan Cost in Q2’26
The 50 largest BDCs, on the basis of total debt investments as of the second quarter of 2026, accounted for 75% of the total aggregate reported value of nonaccrual debt at cost and fair value.
US private debt AUM ($B) by channel
In 2025 and the early part of 2026, the retail channel added AUM to the asset class at a much faster rate than institutional investors in both regions, with growth rates of 43.7% globally, 41.4% in the US, and 73. 1% in Europe through the beginning of 2026 compared with year-end 2024 figures.
