Private Credit Fundraising Falls on Sluggish M&A, Preqin Says

Private debt fundraising has sunk for the second year in a row, as the $1.6 trillion industry continues to consolidate and a dearth of buyouts has led to less deals for managers, according to a Preqin report.

Fundraising for private credit this year is expected to fall short of the $214 billion raised in 2023 and a record of almost $219 billion in 2022, Preqin said in its Wednesday report. By the end of the third quarter, $118 billion flowed into private credit funds, with Preqin expecting full-year totals to come in around the 10-year average of $161 billion.

“While ...