Private debt fundraising on pace to exceed $200 billion this year
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Private debt funds are on pace to raise more than $200 billion in new capital for the fourth year in a row, according to a new report out Tuesday morning from data provider PitchBook.
Why it matters: Private credit funds are changing the global financial landscape, as they muscle in on lending that was once largely done by banks.
By the numbers: Private debt funds, which pool money from investors and then use it to lend directly to companies, raised $95 billion during the first half of the year, beating 2022's first-half total.
- The second half is usually seasonally stronger than the first.
The bottom line: After overtaking venture capital, private debt is now the second-largest fundraiser in the private markets, behind private equity, PitchBook says.
