Fundraising by first-time private debt managers has slowed in 2016, with eight debut funds raising $2.83 billion.
This is less than half of last year’s figure, in a market that has usually seen year-on-year increases. Capital gathered for first-time private debt funds almost doubled between 2010 and 2015.
Investor sentiment in the asset class as a whole remains positive, suggesting private debt still has much to offer new managers. They have 129 funds in market, targeting $50.64 billion.