Big names jumping into private debt
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Globally, private debt fundraising is poised for a down year, according to PitchBook’s Global Private Market Fundraising Report. Through September, 105 private debt funds have closed, amassing $130 billion altogether. 105 is a strikingly low number, considering at least 300 private debt funds have closed every year since 2015. The $130 billion figure is closer to historical norms, so the relatively few funds raised this year are much bigger. So far, the average 2022 vintage is above $1 billion, which would be a first if its holds for the rest of the year.