There were 69 private debt fund closes in H1 2018, raising $61.6 billion in total. This equates to an average fund size of $892 million – down from $941 million for the whole of 2017.
Funds with a distressed debt focus raised $20.2 billion, more than any other strategy. Senior debt, the second most popular strategy, raised $18.7 billion. Subordinated debt funds raised $17.4 billion.
Four of the 10 largest private debt funds to close in the first six months of the year were distressed vehicles, collecting an aggregate $14.7 billion – around half of this was raised by Blackstone’s GSO Capital Solutions Fund III.