Private Debt Intelligence – 5/8/2023

Distressed debt fundraising up as GPs seek $66.5bn


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Distressed debt funds are seeing more interest from LPs in the wake of recent bank collapses and a persistently challenging operating environment. While seven distressed debt funds closed in the first quarter of 2023, raising a total of $5.2bn, Preqin is currently tracking 85 distressed debt funds that are open to investment, targeting an aggregate $66.5bn.