1H22 European Direct Lender Rankings

Report Data Insight 19 August

1H22 European Direct Lender Rankings

Ares has secured pole position in Debtwire Par’s 1H22 Western Europe Direct Lender Rankings, having completed 44 deals to gain a 12.3% market share. In a close finish for second and third place, Barings and Fiduciam closed 33 and 32 deals, respectively.

Ares also placed first in the large-cap table with 29 qualifying deals. Pemberton secured second with 12 deals and Permira came in third with nine deals.

In the mid-market rankings, Fiduciam took first place with 32 qualifying deals, while Barings Direct Lending and Eurazeo rounded out the podium with their respective 27 and 22 deals.

The direct lending market has continued its resilient growth despite the current macroeconomic conditions hampering the majority of the financial markets. In fact, direct lending has thrived, posting a EUR 24.5bn value for the first half of 2022. This figure is already over 80% of the total raised in FY21 due to ever-larger transactions – a symptom of both the pullback from the bank market this year as well as the record level of fundraising in the last two years.

Firms in the UK and Ireland have issued the lion’s share of direct lending deals, with 116 signed in the first six months of the year. This compares with the 62 deals from France & Monaco and DACH’s 60 deals. Southern Europe and Benelux each had 41 deals issued during the period, while three deals got over the line in Eastern Europe.

Despite the impressive issuance totals, European fundraising has struggled to keep pace. Just EUR 4.3bn has been allocated to direct lending funds, just over 10% of last year’s EUR 36.2bn.

Direct Lender rankings highlight the key players in the private debt market. The report contains active direct lender fund rankings, along with market analysis.

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