Private Debt Intelligence – 10/2/2023
Increase in direct lending funds in market in 2023
Chart
Download Data
[wpdm_package id=’66601′]
There were 28% more direct lending funds raising capital in June 2023 than there were a year earlier. Direct lending funds accounted for nearly half of the number of funds and capital raised within private debt in the second quarter of 2023. That proportion may rise in the second half of the year if managers are successful. There are 544 direct lending funds targeting aggregate capital of $251.5bn, compared to the $166.2bn targeted by 391 funds in Q2 2022. One of the largest direct lending funds currently in market is Ares’ Capital Europe VI direct lending vehicle, targeting €15bn.
(Past performance is no guarantee of future results.)
Contact: Megan Harris
Megan.Harris@preqin.com
Latest news
Top 50 BDCs Accounted for 75% of Nonaccrual Loan Cost in Q2’26
The 50 largest BDCs, on the basis of total debt investments as of the second quarter of 2026, accounted for 75% of the total aggregate reported value of nonaccrual debt at cost and fair value.
US private debt AUM ($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.
