Alternatives Enjoy Superb Year
With a few exceptions, alternative asset classes enjoyed a superb year in 2022 in terms of fundraising and performance, says a quarterly report by Preqin. Private debt funds worldwide raised a record $225.7 billion in 2022, surpassing the $218.3 billion figure from the prior year. The asset class has increased total fundraising in each of the last five years. In the fourth quarter, North American funds led demand by securing $19.5 billion of allocations, well ahead of Europe ($12.5 billion) and Asia ($1.5 billion).