Private Debt Performance Slows as AUM Grows
Returns for the private debt asset class as a whole have slowed over the past year, with distressed debt and direct lending funds contributing most to this slump. Over the one-, three- and five-year horizons, mezzanine funds have performed the strongest of the debt strategies, posting an annualized return of 9.8% in the year to December 2018 and an annualized return of 10.4% over five years.