The highest 20 world non-public credit score fund managers collectively held greater than one-third of dry powder out there to the asset class on the finish of final 12 months, based on Preqin and S&P World Market Intelligence information.
The pair reported that the 20 largest non-public credit score corporations by non-public credit score belongings underneath administration (AUM) held a complete of $138.14bn (£110.2bn) in uncommitted capital, equating to 36 per cent of the overall $385.28bn in world non-public credit score uncommitted capital.
Dry powder estimates have been unavailable for Nuveen and SLC Administration, so their precise share of personal credit score dry powder could also be increased.
Learn extra: Blackstone guides to This fall realised revenues and earnings of greater than $775m
The US dominates the non-public credit score trade, with 17 of the 20 largest non-public credit score managers by AUM, based on the Market Intelligence and Preqin information.
Ares Administration ranked third on the listing for AUM however ranked first among the many corporations on fundraising, with $104.48bn price of commitments gathered from traders over the previous decade, based on Preqin information.
Ares additionally held the best quantity of uncommitted capital at $39.90bn.
Ares is the company guardian of Hong Kong-based Ares SSG, the fourth largest non-public credit score fund supervisor with $308.6bn in AUM.
Learn extra: The highest non-public credit score M&A offers of 2024
Apollo, which tops the listing for AUM at $480bn, reported dry powder was $6.4bn on the finish of the third quarter, together with $5.4bn of dry powder with future administration payment potential, of which roughly 75 per cent is in credit score.
Apollo, like a lot of the high non-public credit score managers, has its roots in non-public fairness. All 4 of the most important publicly traded non-public fairness corporations, Blackstone, KKR, The Carlyle Group and Apollo seem within the high 10.
Learn extra: Apollo sees credit score AUM rise by 20pc to $598bn in Q3