Private Debt Intelligence – 5/17/2021
Growth of PD funds in market accelerates in Q1
The number of private debt funds in market has been rising consistently over the past five years, but the last quarter has seen a marked acceleration. There are 592 funds in market as of April 2021, a 36% increase compared to January 2020. The funds are targeting an aggregate $300bn, a 56% increase over January last year. Between 2016 and 2020 growth in both number of funds in market and capital targeted averaged 13%.
Contact: Laura Messchendorp
laura.messchendorp@preqin.com
Latest news
Q2'26 BDC analysis shows additional 184 bps of nonaccruals at cost
In a universe of 173 business development companies, or BDCs, Octus identified a total of $9.5 billion of debt (at cost) in nonaccrual status reported in the second quarter of 2026, a slight decline of 5% from $10 billion in the first quarter of 2026.
Reading the Board
The story changes depending on which numbers you’re counting.

Private Credit Defaults 101: Different Numbers, Different Stories
In Season 2 of Billions, Bobby Axelrod takes his lawyer Orrin Bach to an empty Yonkers racetrack in the dead of night.