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The US private credit deal rankings for Q3 2025 are now live, with Audax Private Debt again leading the field with 50 deals. Apogem follows closely, while Churchill, Antares and TPG Twin Brook round out the top five for the quarter.
Over the last 12 months, Antares leads with 176 deals, followed by Apogem, Churchill, Morgan Stanley and TPG Twin Brook.
We’ll break down the key trends, lender strategies, and market dynamics in our upcoming quarterly US Private Credit Review. Until then, you can explore the full lender rankings and see how deal flow is shaping up across the middle market.
Although deal counts include some confidentially submitted information not included in our database, you can find more information in our private credit screener. For access, get in touch for a free trial of 9fin.
