US investors seek out new fundraising shores

Legislative uncertainty prompts LPs to look beyond US-focused direct lending funds, even as the market retains its dominance in private credit fundraising tables.

Fundraising for North American private credit strategies enjoyed a strong first half of 2025, with $61 billion raised as the region continued to dominate global capital accumulation.

But there are growing signs of a preference for multi-regional strategies among private debt investors, with these allocations accounting for more than one in three private credit dollars raised in H1 2025 as investors seek to diversify out of pure US plays.