Private Debt Intelligence – 5/11/2020
Special Situations Gather Momentum
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Private debt fundraising has slowed down in 2020 – so far this year, there have been 44 funds closed raising a combined $35bn. Strategy wise, direct lending continued to dominate the market closing 10 funds in Q1 2020 with an aggregate capital of $12.8bn raised, the highest amount of any fund type. So far in Q2 there have been seven funds closed, raising $4.3bn for this strategy.
But the most outstanding of all fund types is special situations. This strategy, which could benefit in a recessionary environment, accounts over 31% of total private debt fundraising so far in 2020, with just five funds closed. Three of them were closed in Q1, amassing a total of $3.2bn and two in Q2 2020, raising a combined $7.8bn. These include the $7bn Clearlake Capital Partners VI fund.
Contact: Maria Zapata
maria.zapata@preqin.com
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