The With Intelligence Private Credit Data Pack for Q2 2025 is a quarterly snapshot providing a by-the-numbers accounting of key private credit fundraising activity, assets under management, people moves, and more.
Some highlights in the Q2 compendium are:
- Total Fundraising for 1st Half of 2025 Up 47% Year-over-Year: With Intelligence recorded $49.1bn of private credit fundraising in Q2. This follows $71.7bn of fundraising in Q1, bringing total private credit fundraising to more than $1.2 trillion through the first half of 2025, up 47% versus the same period last year
- Attention Shifts from U.S. to Europe: There appears to be a structural shift in allocator attention toward European and funds, with limited partners looking to diversify their geographic exposure beyond the U.S. In the first half of the year, Europe-focused funds raised $44.6bn, 27% more than the $35bn raised than U.S.-focused vehicles. By contrast, in the first half of 2024, U.S. fundraising outstripped Europe by 65%. Multi-region vehicles raised $40.8bn, flat year-on-year
- High-Net Worth Investors Pour into Private Credit: With Intelligence data now show that over $550bn is now held in private credit funds known as “1940 Act funds,” such as Business Development Companies (BDCs) and interval funds, which are the primary way for private wealth clients to access the private credit asset class. Total assets in these funds is up from just $400 billion in 2024, and at the current growth rate, will reach $1 trillion by 2028
Fundraising
Private wealth
The With Intelligence Private Credit Data Pack for Q2 2025 is available here.
