Funds need flexibility to tackle Brexit

Author: IFLR Correspondent | Published: 26 May 2017

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 2016.


 

 

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