Chart of the week: Larger private debt funds become market staple

 The number of private debt funds gathering $1 billion or more doubles since 2010


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The Carlyle Group held a first close at $235.6 million for its $1 billion debut Asia Structured Credit Opportunities Fund, as reported this week in Private Debt Investor.

PDI’s Research & Analytics team has examined whether closed-ended private debt funds gathering over $1 billion have become a more prominent feature of the market.

So far this year, 26 closed-ended private debt vehicles have held a final close at $1 billion or greater, gathering $62.78 billion collectively. In 2010, the equivalent figure stood at $24.55 billion collected by half this number of funds.

Although bumper fundraising in 2013 stands out with $74.34 billion raised, Lone Star Real Estate Fund III and EIG Energy Fund XVI both collected over $5 billion each that year. Over the five years analysed there is an upward trend in terms of aggregate capital gathered by these large vehicles.

The largest private debt fund to reach a final close in 2015 to date is GS Mezzanine Partners VI, which collected $8 billion in seven months.