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PDI 50: The movers and shakers

An analysis of the most successful fundraisers over the past five years shows which players are becoming dominant in private debt.

Looking at how the industry’s biggest fundraisers have changed over the past five years we can see that past success seems to have cemented some key players in this ranking.

The top five names in this chart have all remained among our top 10 since 2013 and, in several cases, have managed to improve their position while other firms drop off and new entrants rise.

Those firms that were able to raise the biggest funds in the earlier years of this decade seem to have been able to capitalise on their earlier success and continue to attract significant commitments from LPs.

Lone Star Funds in particular has maintained a leading position through much of the past five years and has now raised a total of $37.8 billion. The firm benefits from a large pool of regular returning investors which has resulted in rapid fundraising.

M&G comes a close second with $36.5 billion raised, cementing its position as the top ranking manager based in Europe. This success in fundraising that comes close to matching that of a US manager indicates the level of maturity the European private debt market has reached in recent years.