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 closes · Year to date

102 closes · $259.3B

#	Manager and fund	Size	Market	Reported	Source
1	BaringsFinal close	$19B	Credit	May 19	Pensions & Investments 2 sources
2	HayfinFund V · Final close	≈$16.5B	Credit	Jul 2	WSJ 5 sources
3	Intermediate Capital GroupICG Europe Fund IX · Final close	≈$13.2B	Credit	Sep 9	Alternative Credit Investor 3 sources
4	Ares ManagementPathfinder III · Final close	$12.7B	Credit	Aug 11	Alternative Credit Investor
5	Crescent Capital GroupCrescent Direct Lending Fund IV · Final close	$10.8B	Credit	Jun 3	Pensions & Investments 7 sources
6	BlackstoneBlackstone Capital Opportunities Fund V · Final close	$10B	Credit	Apr 7	Pensions & Investments 8 sources
7	BlackRockBlackRock HPS Junior Capital Fund · Interim close	$10B	Credit	Mar 18	Private Debt Investor
8	Antares Capital AdvisersAntares Senior Loan Fund III · Final close	$8.5B	Credit	May 12	Pensions & Investments 6 sources
9	Guggenheim InvestmentsGuggenheim Private Debt Fund IV · Final close	$8.4B	Credit	Apr 2	The Manila Times 2 sources
10	Ares ManagementAres Special Opportunities Fund III · Final close	$8.3B	Credit	Mar 30	Pensions & Investments 7 sources
11	Adams Street PartnersFund III · Final close	$7.5B	Credit	Apr 13	Private Debt Investor 7 sources
12	Oaktree17Capital NAV Loan Fund · Final close	$7.5B	Credit	Mar 31	Bloomberg 6 sources
13	ApolloFund III · Final close	$6.5B	Credit	May 5	Private Debt Investor 4 sources
14	Tikehau CapitalEuropean Direct Lending Fund VI · Final close	≈$5.7B	Credit	Jul 24	Alternative Credit Investor 5 sources
15	BridgepointBridgepoint European Direct Lending Fund IV · Final close	≈$5.6B	Credit	Aug 3	Private Equity Wire 5 sources
16	Audax Private DebtFund III · Final close	$5.4B	Credit	Sep 30	AltAssets 8 sources
17	Manulife I ComvestFund VII · Final close	$5.4B	Credit	Aug 3	Private Debt Investor 3 sources
18	Hunter Point CapitalFund I · Final close	$4.3B	Credit	Jun 8	Alternative Credit Investor 4 sources
19	EurazeoFund VII · Final close	≈$4.3B	Credit	Jun 2	PitchBook 5 sources
20	Ares ManagementFund I · Final close	$4.2B	Credit	Oct 1	Bloomberg 4 sources
21	Jefferies Credit PartnersFund I · First close	$4B	Credit	Sep 9	Alternative Credit Investor 5 sources
22	Silver Rock Capital PartnersSilver Rock Capital Partners Tactical Allocation · Final close	$4B	Credit	Apr 29	AltAssets 2 sources
23	PembertonCredit Opportunities IV · Final close	≈$3.7B	Credit	May 28	Private Debt Investor 4 sources
24	Cheyne CapitalCheyne Real Estate Credit Holdings (CRECH) IX – Capital Solutions · Final close	≈$3.3B	Credit	Sep 23	Alternative Credit Investor 4 sources
25	BNP Paribas AMFinal close	≈$3.3B	Credit	May 12	PERE
26	Pollen StreetCredit Fund IV · Final close	≈$3.2B	Credit	Apr 9	Private Debt Investor 2 sources
27	GoldenTree Asset ManagementGoldenTree Tactical Opportunities Fund · Final close	$3B	Credit	Apr 16	AltAssets
28	Blue Owl CapitalAsset Special Opportunities Fund IX · Final close	$2.9B	Credit	Mar 31	Private Equity Wire 5 sources
29	GoldenTree Asset ManagementPrivate Credit Fund II · Final close	$2.8B	Credit	Jul 20	Alternative Credit Investor 5 sources
30	Comvest PartnersComvest Credit Partners VII · Final close	$2.6B	Credit	Apr 16	Private Debt Investor
31	EurazeoEurazeo Direct Lending Fund VI · Final close	≈$2.5B	Credit	Aug 18	Private Debt Investor
32	Primary WavePrimary Wave Music Royalties Fund IV · Final close	$2.2B	Credit	Apr 29	Private Debt Investor
33	Oaktree Capital ManagementOaktree Asset-Backed Finance Fund I · Final close	$2B	Credit	Oct 1	Alternative Credit Investor 3 sources
34	HSBC Asset ManagementHSBC AM second UK direct lending fund · Final close	$2B	Credit	Jun 5	Alternative Credit Investor 2 sources
35	L Squared Capital PartnersL Squared Capital Partners Fund V · Final close	$2B	Credit	Apr 2	Business Wire
36	Truelink CapitalTruelink Fund II · Final close	$2B	Credit	Mar 9	WSJ 5 sources
37	ApolloApollo Liquid Credit Fund · Final close	$1.9B	Credit	May 4	Private Debt Investor 2 sources
38	StepStone GroupFund II · Final close	$1.6B	Credit	Apr 23	WSJ 4 sources
39	Orion Infrastructure CapitalOrion Infrastructure Capital Credit Opportunities Fund IV · Final close	$1.6B	Credit	Mar 31	Business Wire 2 sources
40	Muzinich & CoFund III · Final close	≈$1.5B	Credit	Jun 15	Private Equity Wire
41	Stellus Capital ManagementStellus Credit Fund IV · Final close	$1.5B	Credit	May 19	Alternative Credit Investor 6 sources
42	Carlyle GroupCarlyle Asset-Backed Income Fund · First close	$1.5B	Credit	Apr 15	Private Equity Wire 2 sources
43	Copenhagen Infrastructure PartnersGreen Credit fund · First close	≈$1.5B	Credit	Mar 10	AltAssets 7 sources
44	Sound Point Capital ManagementFinal close	$1.5B	Credit	Mar 5	Alternative Credit Investor 2 sources
45	BNP Paribas AM AltsFund II · Final close	≈$1.3B	Credit	Sep 7	Infrastructure Investor 2 sources
46	S3 CapitalS3 LB RE Credit Fund III · Final close	$1.3B	Credit	May 7	Alternative Credit Investor 4 sources
47	GCM GrosvenorFinal close	$1.2B	Credit	Jul 24	Private Debt Investor 3 sources
48	AllianzGIAllianzGI Impact Direct Lending Fund · Final close	≈$1.1B	Credit	Sep 9	New Private Markets
49	Nuveen Green CapitalNuveen CPACE Lending Fund IV · First close	$1B	Credit	Aug 25	Alternative Credit Investor 7 sources
50	SlateFinal close	$1B	Credit	Jul 30	Private Debt Investor
51	SagardCredit Partners III · First close	$1B	Credit	Jul 15	Private Debt Investor 6 sources
52	HSBC Asset ManagementNAV Financing Partnership Strategy · First close	$1B	Credit	Jun 15	Alternative Credit Investor
53	S3Final close	$850M	Credit	May 7	PERE 2 sources
54	Prospect RidgeFund II · Final close	$800M	Credit	Aug 19	PERE
55	Pentagreen CapitalGreen Investments Partnership (GIP) · Interim close	$800M	Credit	May 20	Alternative Credit Investor 2 sources
56	PennantPark Investment AdvisersPennantPark Credit Secondary Fund · Final close	$745M	Credit	Sep 11	HedgeCo Insights
57	Allianz Global InvestorsAllianz Global Investors Asia Pacific Private Credit Fund · First close	$744M	Credit	Jun 23	Private Equity Wire 8 sources
58	Dwight CapitalFinal close	$723M	Credit	Sep 17	Business Wire
59	Claret Capital PartnersClaret European Growth Capital Fund IV · Final close	≈$631M	Credit	Sep 7	Alternative Credit Investor 3 sources
60	Crestline ManagementCrestline European Capital Solutions Fund II · Final close	$625M	Credit	Aug 20	Alternative Credit Investor 3 sources
61	BridgeInvestBridgeInvest Specialty Credit Fund V · Interim close	$612M	Credit	Aug 27	Alternative Credit Investor 4 sources
62	BalbecBalbec NPL Fund V · First close	$560M	Credit	Aug 29	Private Debt Investor
63	Incus CapitalEuropean Credit Fund V · Interim close	≈$560M	Credit	Jul 3	Alternative Credit Investor
64	Eagle PointFinal close	$559M	Credit	Mar 10	Private Debt Investor 2 sources
65	Pluto FinanceLending Vehicle VIII · Interim close	≈$550M	Credit	Sep 8	Alternative Credit Investor
66	Kotak Alternate Asset ManagersKotak Yield & Growth Fund · Final close	$522M	Credit	Sep 23	HedgeCo Insights 2 sources
67	Granite AsiaLibra Hybrid · Final close	$500M	Credit	Sep 9	Private Equity Wire
68	OnexOnex Structured Credit Opportunities Fund II · Final close	$500M	Credit	Aug 7	Alternative Credit Investor 2 sources
69	Treville Capital ManagementTreville Capital Solutions Fund · Final close	$500M	Credit	Mar 23	Alternative Credit Investor
70	CVC Credit PartnersCVC Cordatus Loan Fund XIX · Interim close	≈$483M	Credit	Apr 20	Alternative Credit Investor
71	Fidelity InvestmentsFidelity Real Estate Debt Opportunities Fund II · Final close	$451M	Credit	Sep 29	Alternative Credit Investor
72	Northleaf Capital PartnersNorthleaf Asset-Based Specialty Finance Fund · Final close	$450M	Credit	Aug 18	Alternative Credit Investor 4 sources
73	Crescent Cove AdvisorsFund IV · Final close	$446M	Credit	Apr 30	Private Debt Investor 2 sources
74	Ninety OneAfrica Credit Opportunities Fund 3 · Final close	$404M	Credit	Aug 18	Alternative Credit Investor 5 sources
75	Avante Capital PartnersSBIC Fund IV · Final close	$400M	Credit	May 20	Alternative Credit Investor
76	360 ONE AssetFinal close	$400M	Credit	Mar 9	Alternative Credit Investor
77	Homestead CapitalHomestead Capital Agriculture Private Credit Fund · First close	$350M	Credit	Aug 14	Alternative Credit Investor 13 sources
78	Prime CapitalPrime Sustainable Infrastructure Debt Fund (PSIDEF) · Final close	≈$335M	Credit	Sep 10	Alternative Credit Investor 2 sources
79	Mandatum Asset ManagementMandatum Credit Opportunities II · First close	≈$330M	Credit	Apr 2	Alternative Credit Investor 2 sources
80	CapitaLand InvestmentAsia Pacific Credit Program II · Final close	$320M	Credit	Apr 12	Pulse 2.0 2 sources
81	Sundaram AlternatesSundaram Alternates Real Estate Credit Fund V · Final close	≈$300M	Credit	May 22	Realty Today 2 sources
82	AllianzGIAllianzGI Asia Infrastructure Credit Fund · First close	$270M	Credit	Apr 27	Alternative Credit Investor 5 sources
83	Allianz GIAllianz GI APAC Private Credit Fund · First close	$270M	Credit	Apr 27	DealStreetAsia
84	IPFFinal close	≈$265M	Credit	Jul 16	Private Debt Investor
85	BlueOrchardBlueOrchard Climate Action Mobilisation Fund · First close	$250M	Credit	Sep 15	Alternative Credit Investor 7 sources
86	Urban PartnersUrban Partners Credit II · First close	≈$220M	Credit	Aug 17	Alternative Credit Investor 5 sources
87	Polar Asset Management PartnersCRS Fund-II · First close	$215M	Credit	Aug 11	Private Equity Wire 3 sources
88	Channel Capital AdvisorsChannel Capital Cornic · First close	$200M	Credit	Jul 28	ffnews.com
89	Avila Real Estate CapitalAvila Real Estate Capital Debt Fund · Interim close	$200M	Credit	Mar 9	Builder Magazine 3 sources
90	Walker & Dunlop Investment PartnersFinal close	$168M	Credit	Mar 2	Yahoo Finance 2 sources
91	Santander Alternative InvestmentsAsset Backed Corporate Lending Fund II · First close	≈$165M	Credit	Jul 7	Alternative Credit Investor
92	EOS InvestorsEOS Hotel Credit Strategy · First close	$150M	Credit	Mar 18	Alternative Credit Investor
93	Silvercourt Capital PartnersFinal close	≈$147M	Credit	Mar 11	Alternative Credit Investor 2 sources
94	Sundaram AlternatesFinal close	≈$145M	Credit	Jul 10	Cafemutual
95	Orbit CapitalGrowth Debt II · Interim close	≈$117M	Credit	Jul 2	Alternative Credit Investor 2 sources
96	BciFinal close	$65M	Credit	Jul 2	Structured Credit Investor
97	Qualitas FundsFund I · Final close	≈$55M	Credit	May 19	capital-riesgo.es
98	Modulus Alternatives Investment ManagersIndia Credit Opportunities Fund III · First close	≈$37M	Credit	Aug 26	HedgeCo Insights 7 sources
99	AHL Venture PartnersAHL Africa Credit Fund · First close	$30.5M	Credit	May 26	AltAssets 4 sources
100	Granite CreekFinal close	$29M	Credit	May 21	Agri Investor

Showing the largest 100 of 102; narrow by market to see further down. 4 more closes were reported in this period without a size and are not ranked. ≈ converted to dollars from another currency. Updated Oct 2, 2:52 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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