Private Debt Intelligence – 1/6/2025
Direct lending the driver of private debt growth in Europe
Chart
Download Data
[wpdm_package id=’73073′]
Read more in Preqin’s ‘2025 Global Report: Private Debt’.
Since the Global Financial Crisis, direct lending AUM has grown at a faster rate than other private debt strategies in Europe, such that it now comprises more than two-thirds of private debt AUM (67.3%). Higher risk and more specialized strategies, such as mezzanine and distressed debt, have declined as a proportion of AUM, with mezzanine falling from 72.0% in 2008 to just 8.5% in 2024. However, AUM in Europe-focused mezzanine funds has increased over that period, from $26.5bn in 2008 to $40.6bn as of March 2024, highlighting how changes in banking regulation since GFC created the opportunity for private debt funds to fill a market gap in Europe.
Contact: William Bennett-Lynch
william.bennett-lynch@preqin.com
Latest news
US leveraged loans returns turn negative in October
The Bloomberg US Leveraged Loan Index (Ticker: LOAN) has returned -0.26% this month through October 21, reducing its year-to-date return…
M&A activity begins to tick upward
In the third quarter of 2026, acquisition-linked loan volume across North America and Europe reached about $47 billion, up from $30.6 billion in Q2 and $29.5 billion a year ago.
