Data on mid-market deal volumes from Deloitte reveals how Europe private debt has evolved since 2013.
While all parts of Europe have seen an expansion in activity (though are still far behind the US), the most notable jurisdiction is France, which has rapidly become Europe’s second most popular private debt investment location.
Germany had grown more slowly, though is expected to also become a major source of deals in the near future as more private debt funds open offices and hire specialists in the country.
The chart also shows how deal activity in the UK has been resilient to the country’s decision to leave the European Union. After a small decline in 2016 (the year the country voted to depart), private debt activity has increased in both 2017 and 2018.