There is change throughout the ranking, including at the top, as private debt's biggest fundraisers rake in unprecedented amounts of capital.
Private debt growth slowed due to distributions to investors but the firm is on target to reach its long-term fundraising targets.
At the first close for its latest European mid-market strategy, the fund manager has already gone past the €1.1bn it raised for its debut European vehicle.
Controversial aspects of deal structures such as EBITDA addbacks and restricted payment baskets will come under scrutiny as and when conditions get tougher, says Ares' Michael Arougheti.
The deal signals the real estate fund management giant’s entry into Europe’s property credit market.
From how distressed should be a ‘grind-it-out’ strategy, to making sure GPs are ‘cycle-proofing’ their documents, this is what participants were talking about.
The direct lender has capped the vehicle at $1.5bn and received a $250m co-investment sidecar from the Kentucky Retirement System.
The group saw strong deployment of its European funds and said it is well protected from short-term market movements.
Flag of Germany
The SME lending specialist is seeking up to €150m with the backing of the EIF as part of the Juncker Plan.
Zurkow joined the business in 2012 initially to develop its infrastructure debt strategy.

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