PitchBook：2024年全球私募债权年度报告（英文版）

In 2024, private debt fundraising reached $197.1 billion, firmly establishing itself as the second-largest strategy in private capital markets behind only private equity. Notably, private debt overtook venture capital for the second straight year, driven largely by sustained demand for steady income generation and high risk-adjusted returns. Outside of institutional capital, private debt is undergoing rapid growth from insurance companies and wealth management channels’ push into perpetual li