League tables

The largest fund closes across private markets, ranked by size. Every row is a close a publication reported, and links to that report.

Credit · Largest final closes · Year to date

72 closes · $232.2B

#	Manager and fund	Size	Market	Reported	Source
1	BaringsFund not named in the reports	$19B	Credit	May 19	Pensions & Investments 2 sources
2	HayfinFund V	≈$16.5B	Credit	Jul 2	WSJ 5 sources
3	Intermediate Capital GroupICG Europe Fund IX	≈$13.2B	Credit	Sep 9	Alternative Credit Investor 3 sources
4	Ares ManagementPathfinder III	$12.7B	Credit	Aug 11	Alternative Credit Investor
5	Crescent Capital GroupCrescent Direct Lending Fund IV	$10.8B	Credit	Jun 3	Pensions & Investments 7 sources
6	BlackstoneBlackstone Capital Opportunities Fund V	$10B	Credit	Apr 7	Pensions & Investments 8 sources
7	Antares Capital AdvisersAntares Senior Loan Fund III	$8.5B	Credit	May 12	Pensions & Investments 6 sources
8	Guggenheim InvestmentsGuggenheim Private Debt Fund IV	$8.4B	Credit	Apr 2	The Manila Times 2 sources
9	Ares ManagementAres Special Opportunities Fund III	$8.3B	Credit	Mar 30	Pensions & Investments 7 sources
10	Adams Street PartnersFund III	$7.5B	Credit	Apr 13	Private Debt Investor 7 sources
11	Oaktree17Capital NAV Loan Fund	$7.5B	Credit	Mar 31	Bloomberg 6 sources
12	ApolloFund III	$6.5B	Credit	May 5	Private Debt Investor 4 sources
13	Tikehau CapitalEuropean Direct Lending Fund VI	≈$5.7B	Credit	Jul 24	Alternative Credit Investor 5 sources
14	BridgepointBridgepoint European Direct Lending Fund IV	≈$5.6B	Credit	Aug 3	Private Equity Wire 5 sources
15	Audax Private DebtFund III	$5.4B	Credit	Sep 30	AltAssets 8 sources
16	Manulife I ComvestFund VII	$5.4B	Credit	Aug 3	Private Debt Investor 3 sources
17	Hunter Point CapitalFund I	$4.3B	Credit	Jun 8	Alternative Credit Investor 4 sources
18	EurazeoFund VII	≈$4.3B	Credit	Jun 2	PitchBook 5 sources
19	Ares ManagementFund I	$4.2B	Credit	Oct 1	Bloomberg 4 sources
20	Silver Rock Capital PartnersSilver Rock Capital Partners Tactical Allocation	$4B	Credit	Apr 29	AltAssets 2 sources
21	PembertonCredit Opportunities IV	≈$3.7B	Credit	May 28	Private Debt Investor 4 sources
22	Cheyne CapitalCheyne Real Estate Credit Holdings (CRECH) IX – Capital Solutions	≈$3.3B	Credit	Sep 23	Alternative Credit Investor 4 sources
23	BNP Paribas AMFund not named in the reports	≈$3.3B	Credit	May 12	PERE
24	Pollen StreetCredit Fund IV	≈$3.2B	Credit	Apr 9	Private Debt Investor 2 sources
25	GoldenTree Asset ManagementGoldenTree Tactical Opportunities Fund	$3B	Credit	Apr 16	AltAssets
26	Blue Owl CapitalAsset Special Opportunities Fund IX	$2.9B	Credit	Mar 31	Private Equity Wire 5 sources
27	GoldenTree Asset ManagementPrivate Credit Fund II	$2.8B	Credit	Jul 20	Alternative Credit Investor 5 sources
28	Comvest PartnersComvest Credit Partners VII	$2.6B	Credit	Apr 16	Private Debt Investor
29	EurazeoEurazeo Direct Lending Fund VI	≈$2.5B	Credit	Aug 18	Private Debt Investor
30	Primary WavePrimary Wave Music Royalties Fund IV	$2.2B	Credit	Apr 29	Private Debt Investor
31	Oaktree Capital ManagementOaktree Asset-Backed Finance Fund I	$2B	Credit	Oct 1	Alternative Credit Investor 3 sources
32	HSBC Asset ManagementHSBC AM second UK direct lending fund	$2B	Credit	Jun 5	Alternative Credit Investor 2 sources
33	L Squared Capital PartnersL Squared Capital Partners Fund V	$2B	Credit	Apr 2	Business Wire
34	Truelink CapitalTruelink Fund II	$2B	Credit	Mar 9	WSJ 5 sources
35	ApolloApollo Liquid Credit Fund	$1.9B	Credit	May 4	Private Debt Investor 2 sources
36	StepStone GroupFund II	$1.6B	Credit	Apr 23	WSJ 4 sources
37	Orion Infrastructure CapitalOrion Infrastructure Capital Credit Opportunities Fund IV	$1.6B	Credit	Mar 31	Business Wire 2 sources
38	Muzinich & CoFund III	≈$1.5B	Credit	Jun 15	Private Equity Wire
39	Stellus Capital ManagementStellus Credit Fund IV	$1.5B	Credit	May 19	Alternative Credit Investor 6 sources
40	Sound Point Capital ManagementFund not named in the reports	$1.5B	Credit	Mar 5	Alternative Credit Investor 2 sources
41	BNP Paribas AM AltsFund II	≈$1.3B	Credit	Sep 7	Infrastructure Investor 2 sources
42	S3 CapitalS3 LB RE Credit Fund III	$1.3B	Credit	May 7	Alternative Credit Investor 4 sources
43	GCM GrosvenorFund not named in the reports	$1.2B	Credit	Jul 24	Private Debt Investor 3 sources
44	AllianzGIAllianzGI Impact Direct Lending Fund	≈$1.1B	Credit	Sep 9	New Private Markets
45	SlateFund not named in the reports	$1B	Credit	Jul 30	Private Debt Investor
46	S3Fund not named in the reports	$850M	Credit	May 7	PERE 2 sources
47	Prospect RidgeFund II	$800M	Credit	Aug 19	PERE
48	PennantPark Investment AdvisersPennantPark Credit Secondary Fund	$745M	Credit	Sep 11	HedgeCo Insights
49	Dwight CapitalFund not named in the reports	$723M	Credit	Sep 17	Business Wire
50	Claret Capital PartnersClaret European Growth Capital Fund IV	≈$631M	Credit	Sep 7	Alternative Credit Investor 3 sources
51	Crestline ManagementCrestline European Capital Solutions Fund II	$625M	Credit	Aug 20	Alternative Credit Investor 3 sources
52	Eagle PointFund not named in the reports	$559M	Credit	Mar 10	Private Debt Investor 2 sources
53	Kotak Alternate Asset ManagersKotak Yield & Growth Fund	$522M	Credit	Sep 23	HedgeCo Insights 2 sources
54	Granite AsiaLibra Hybrid	$500M	Credit	Sep 9	Private Equity Wire
55	OnexOnex Structured Credit Opportunities Fund II	$500M	Credit	Aug 7	Alternative Credit Investor 2 sources
56	Treville Capital ManagementTreville Capital Solutions Fund	$500M	Credit	Mar 23	Alternative Credit Investor
57	Fidelity InvestmentsFidelity Real Estate Debt Opportunities Fund II	$451M	Credit	Sep 29	Alternative Credit Investor
58	Northleaf Capital PartnersNorthleaf Asset-Based Specialty Finance Fund	$450M	Credit	Aug 18	Alternative Credit Investor 4 sources
59	Crescent Cove AdvisorsFund IV	$446M	Credit	Apr 30	Private Debt Investor 2 sources
60	Ninety OneAfrica Credit Opportunities Fund 3	$404M	Credit	Aug 18	Alternative Credit Investor 5 sources
61	Avante Capital PartnersSBIC Fund IV	$400M	Credit	May 20	Alternative Credit Investor
62	360 ONE AssetFund not named in the reports	$400M	Credit	Mar 9	Alternative Credit Investor
63	Prime CapitalPrime Sustainable Infrastructure Debt Fund (PSIDEF)	≈$335M	Credit	Sep 10	Alternative Credit Investor 2 sources
64	CapitaLand InvestmentAsia Pacific Credit Program II	$320M	Credit	Apr 12	Pulse 2.0 2 sources
65	Sundaram AlternatesSundaram Alternates Real Estate Credit Fund V	≈$300M	Credit	May 22	Realty Today 2 sources
66	IPFFund not named in the reports	≈$265M	Credit	Jul 16	Private Debt Investor
67	Walker & Dunlop Investment PartnersFund not named in the reports	$168M	Credit	Mar 2	Yahoo Finance 2 sources
68	Silvercourt Capital PartnersFund not named in the reports	≈$147M	Credit	Mar 11	Alternative Credit Investor 2 sources
69	Sundaram AlternatesFund not named in the reports	≈$145M	Credit	Jul 10	Cafemutual
70	BciFund not named in the reports	$65M	Credit	Jul 2	Structured Credit Investor
71	Qualitas FundsFund I	≈$55M	Credit	May 19	capital-riesgo.es
72	Granite CreekFund not named in the reports	$29M	Credit	May 21	Agri Investor

3 more closes were reported in this period without a size and are not ranked. ≈ converted to dollars from another currency. Updated Oct 2, 2:16 AM ET.

Capital by market

Final closes · year to date

Private equity$362.1B
Credit$232.2B
Venture & growth$72.9B
Infrastructure$62.3B
Real estate$53.8B
Secondaries$24.2B
GP stakes$20B

How this table is made

What counts. A fund close that a publication reported, with a named manager and a stated size. Rumoured and expected closes are left out until they happen.
What does not. Hedge funds, continuation vehicles, CLOs and other structured issues, single-investor mandates, evergreen funds, and a manager’s total assets or yearly fundraising. A figure the headline calls a target is not a close.
One fund, one row. Several outlets’ reports of the same close are joined — under whatever name or number each gave the fund — and dated to the first.
Sizes. As reported. A figure marked ≈ was reported in another currency and converted to dollars at the time.
When reports disagree. If outlets give different figures for one fund, the lower is ranked and the row is marked †. The higher is usually a total that adds leverage or single-investor vehicles to the fund itself.
Markets. Growth equity is counted with venture, which is how the reports are filed.
Coverage. From March 2026. It ranks the closes in the stories we carried; it is not a census of every fund.
Corrections. The fields are extracted from the reports by software and can be wrong. Tell us and we will fix the row.

The closes, as they happen.

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