Distressed debt fundraising
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While private debt fundraising had a strong first half, distressed debt fundraising was exempt from that trend, according to PitchBook’s H1 2023 Global Private Debt Report. It’s a sudden drop-off from a trend that goes back more than a decade. Through H1, three distressed debt funds have closed worth a combined $2.2 billion. That contrasts with three straight years of at least $30 billion raised.