Chart of the week: Europe overtakes North America debt fundraising

More capital was raised by Europe-focused closed-ended vehicles than their North American counterparts last year.


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Following the $2.05 billion second close of Europe and US-focused Blackstone Real Estate Debt Strategies (BREDS) Fund III, this week, PDI Research & Analytics has compared European private debt fundraising with capital raised in North America.

Europe-focused funds have been gaining traction in recent years, seeing a sixfold increase in capital raised since 2010 and finally overtaking their North American counterparts last year.

Funds to invest in Europe raised a total of $4.8 billion across 13 vehicles in 2010, growing to $32.2 billion raised by 38 funds in 2015. The largest fund raised for the region last year was Ares Management’s European Loan Programme, which closed on $3.4 billion.

The trend seems to be continuing in 2016, with $2.9 billion raised for Europe in the first quarter of 2016, compared with $1.9 billion for North America.

The largest European fund to close so far this year was Europe-focused AgFe Floating Rate Senior Debt Fund, which raised $1.13 billion. In the US, the largest was PNC Erieview Capital II, which gathered $600 million.