Private Debt Intelligence – 10/15/2018

Direct Lending Sees Banner Q3


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Although private debt fundraising activity slowed in Q3 2018, with the quarter recording 31 funds holding a final close and securing a total of $24bn in capital, direct lending had a banner quarter. In Q3, four distressed debt vehicles raised $2.4bn, eight mezzanine funds raised $1.5bn and 15 direct lending funds raised $19bn. This brings the average direct lending size to $1.3bn – the largest average size for a direct lending fund of any quarter in the last five years. The average size of a direct lending fund in Q2 was $688mn and the average size in Q1 was $548mn.