PitchBook：2025年美国私人信贷监测报告（英文版）

PE-backed direct lending volume rises, spurred by mega-deals – Despite headwinds from US trade policies, direct lenders have secured notable wins in recent months. While the number of buyout deals declined over the past three months, estimated direct lending volume supporting buyout activity rose to approximately $23 billion through May 31, the highest level since Q2 2022. The market remains receptive to high-quality transactions, with lenders competing for attractive opportunities. Recent de