The Pulse of Private Equity – 2/21/2022

Fewer emerging lenders in 2021


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2021 marked a decade low for “emerging firm” private debt fundraising, according to PitchBook’s Annual Global Private Debt Report. Only 64 private debt funds were raised last year by emerging firms, down from 145 in 2020. Before 2021’s slowdown, emerging lenders raised at least 100 private debt funds per year going back to 2013. In fairness, the number of funds raised by experienced lenders also fell, from 191 in 2020 to 121 last year.