Last year saw distressed debt funds raising more capital than even the ever-popular senior debt category.
Analysis of PDI fundraising data shows that, while senior debt funds were more numerous, some very large distressed debt vehicles pushed the asset class to be the top fundraiser by value last year.
Distressed funds raised a total of $60.9 billion in 2017, just above the $60.1 billion raised for senior strategies.
With coming expectations that the global economy may begin to slow down, demonstrated in early 2018 as public markets faltered, it would seem debt houses are expecting many distressed opportunities could come their way in the coming years.
To check out this chart and more, download the Private Debt Investor 2017 Fundraising Report.