Chart of the week: North American private debt fund managers beat 2014 total

Closed-ended private debt fund managers based in North America have raised more capital for European and global vehicles in three quarters than for all of 2014


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Intermediate Capital Group has so far raised $723 million for its North American Debt Fund, as reported in Private Debt Investor this week. The vehicle has a target of $750 million and held a first close at $450 million in May 2014.

PDI’s Research & Analytics team have looked at how much capital North American managers of closed-ended private debt funds have gathered between 2013 and Q3 2015.

This year has so far seen $63.41 billion raised in the region for investments into private debt globally. Aggregate capital collected has increased year on year since 2008, reaching a peak of $83.89 billion in 2013, before slowing last year to $52.3 billion.

Capital gathered for domestic private debt investment remained steady at around $25 billion between 2014 and Q3 2015, while capital collected for investments into Asia-Pacific decreased from $300 million to $177.6 million.

Meanwhile, European or globally-focused vehicles closed between Q1 and Q3 2015 have each raised more capital than in 2014. Funds with a global remit, investing into two or more regions, increased by the highest amount proportionately, at around 50 percent more capital collected.

GS Mezzanine Partners VI, managed by Goldman Sachs, is the largest North American-domiciled fund to have closed in 2015. The vehicle had gathered $8 billion at final close in February to invest into corporate debt globally.