The Unicrunch — Sluggish fundraising, secondary perceptions and preemptive workouts
- Peter Benson
Closing time
Slowdowns on the fundraising side of the private credit market are a recurring conversation, even if the denominator effect began dissipating last year, and allocations continue to increase.
And some of the biggest names in the industry expect closes this year. Bain, PIMCO, and AB CarVal are looking at multi-billion-dollar opportunistic credit raises, while HPS, Jefferies and MC Credit Partners are looking to do the same with their direct lending funds. BlackRock and Audax are also slated to hold first closes on massive fundraises.