While there has been some interesting movement at the top of the new PDI 50, coupled with some jockeying for position at the lower end of the rankings, one clear trend has continued from previous years: the increasing size of private debt managers. Ares saw the most striking increase in its five-year fundraising total, going from $23.8
PDI 50: the cost of consolidation
The drift of capital towards a small cohort of mega-funds remains a theme for private debt, but at what price?
