Chart of the week: Percentage of debt funds above, on, or below target

The percentage of debt funds on target increased by 18 percent from Q1 2014 to Q1 2015

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In Q1 2015, 61 percent of all debt funds globally across sectors had raised the amount of capital targeted by a fund at the time of its final close. In comparison, funds that surpassed their target size or closed below target represented a collectively smaller proportion of debt funds to close overall. In Q1 2014, a lower percentage of debt funds were on target at 43 percent.

The percentage of funds that were above target in Q1 2015 decreased from 46 percent in the first quarter of the previous year to 22 percent. In Q1 2014 35 debt funds held a final close, with 16 of these above target, whilst 23 funds closed in the first quarter of 2015 with five of these raising more capital than was initially targeted.

The fund which had the greatest positive difference between its target size and its size at final close in Q1 2015 was Vine Media Opportunities – Fund III, managed by Vine Alternative Investments. The North American focused corporate debt fund had a target size of $300 million but gathered $500 million from investors. The fund that was furthest from its target in this quarter was Renshaw Bay Real Estate Finance Fund which raised $538 million but had a target size of $756 million.