The Big Winners From Private Credit’s Boom Are Becoming Clear
- A handful of players are attracting large chunks of capital
- Bigger firms aim to become ‘one-stop-shops’ for debt deals
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A chasm is forming between the haves and have-nots in the rapidly expanding private credit asset class.
Intermediate Capital Group Plc this week wrapped up a €15.2 billion ($16.8 billion) European direct-lending fund raise, the largest pool of capital of its kind ever secured in the region. It follows July’s record-breaking haul of $34 billion, including leverage, by Ares Management Corp. for a similar US strategy.