Twelve months is clearly a long time in politics, and
perhaps even longer in the volatile world of financial markets.
But in the case of private debt fundraising, the last year has
been mostly a case of plus ça change, plus c'est la
même chose. Undeterred by the unexpected results in
the Brexit referendum and the US presidential election, the
private debt asset class has continued its onward march.
According to the latest available annual data from Preqin, an
aggregate of $93 billion was raised across 131 private debt
funds closed globally in 2016, making it the second consecutive
year, and the third overall, in which fundraising totals have
surpassed $90 billion. This performance is testament to the
growth story of the asset class in the last 10 years, with
assets under management (AUM) for private debt fund managers
quadrupling from $147 billion in 2006 to $595 billion to