White Paper
Is this the dawn of a golden era for private debt?
Private debt funds have emerged as an increasingly attractive investment option, offering the potential
for strong returns with lower volatility compared to public equities. This fourth private debt report presents a comprehensive analysis of the performance of 57 private debt funds managed by leading firms such as KKR, TPG, Angelo Gordon, Brookfield, Blackstone, Blue Owl, Ares, and Carlyle from 2010 to 2024. It explores investor and asset manager sentiment, delves into detailed performance metrics, and evaluates the impact of fund size and interest rate regimes on returns.
Highlights
- Strong Performance: KKR draws attention, while TPG Angelo Gordon leads in performance for the fourth straight quarter.
- Investment and Capital Commitment Trends: Despite recent rate cuts, GPs remain bullish, with strong fundraising activity and active investment strategies driving growth in the private debt market.
- Fund Size and Interest Rate Impact: While small funds have struggled, newer funds launched during the high-interest rate period have outperformed, with KKR and Blackstone leading the way.
About Cardo AI
Founded in 2018, CARDO AI is a global fintech company that leverages the power of artificial intelligence (AI) and data analysis to make the structured finance market more accessible and efficient. Our technology empowers banks, asset managers, and credit servicers to streamline transactions, save time, reduce errors, and lower costs. Trusted by some of the most sophisticated investors, including Blackstone, Citigroup, Fasanara, and Azimut, our platform currently manages over $40 billion in assets globally. In 2024, Cardo AI secured $15 million in Series A funding, co-led by Blackstone, Fintop Capital, and Jam Fintop.
Meet the Author
Arben Zibri is the Product Manager for Data Science at Cardo AI, where he leads product vision and identifies AI and ML opportunities in structured finance.
Previously, Arben was Director of Model Control for Interest Rates and Credit Derivatives at Morgan Stanley and has held roles in project management and commercial lending
Discover past publications from our Private Debt Fund Performance Report series
