A drop in fund closings portends
more capital in fewer hands
Yet another data point is emerging to showcase how fewer managers are raising an outsized amount of the capital LPs are allocating to the asset class.
One of the most prominent trends in private credit today has been that of consolidation.
It’s often used to refer to managers purchasing other managers or picking up entire loan books at a deep discount. But it can also be looked at from the number of actual fund closings