Private debt funds closed on $16.5 billion in commitments during the second quarter of 2015, down 21% from the previous quarter, according to Preqin.
Distressed manager CarVal Investors closed the largest fund during the second quarter. The firm's CVI Credit Value Fund III closed on $3 billion in commitments. Investors include the Florida State Board of Administration, Minnesota State Board of Investments, MassPRIM and Maryland State Retirement & Pension System.
Park Square Capital Credit Opportunities II, a Europe-focused direct lending fund, was the second largest fund closed during the quarter, at $2.39 billion.
