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Private credit providing better returns than private equity

The global slowdown in M&A means that the private credit sector is currently providing investors with better returns than they would get from private equity, according to a report by Bloomberg, citing new data published by State Street.

According to the State Street Private Equity Index, which collects data from about 3,900 funds with $4.8tn in capital commitments, private debt funds returned 2.61% to their investors in the second quarter of 2023, the latest data available, while buyout funds returned 2.29%.

Since the start of 2022, private credit has been ahead in all but one quarter, according to State Street’s numbers.

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