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February 22, 2024

Top 10 Most Allocated Private Credit Funds of 2023

In 2023, Dakota tracked approximately 270 investments in private credit strategies totaling nearly $30 billion in allocations.

Through our Dakota Marketplace database, we have tracked public investments and other activity from public pension funds, endowments, foundations, and other investment allocators. 

Private credit activity has experienced significant growth, driven by investors seeking higher yields in a low interest rate environment. The market saw increased diversification, with more opportunities in direct lending, distressed debt, and real estate. 

In this article, we are covering the top 10 most allocated private credit funds by funding amount that we tracked for the year. See more information and schedule a demo of Dakota Marketplace here.

  1. Ares Capital Europe IV: $1.5 billion

  2. Kotak Strategic Special Situations Fund II: $1.2 billion

  3. Ares Pathfinder II Fund: $1.0 billion

  4. Ares Senior Credit Investment Partnership: $1.0 billion

  5. Castlelake Aviation Fund V Stable Yield: $635 million

  6. KLIM Delta Excelsior Fund: $600 million

  7. ICG Excelsior SCSp: $600 million

  8. OHA Oak Hill Syndicated Loan: $585 million

  9. Ares Senior Direct Lending Fund III: $520 million

  10. Gramercy Capital Solutions Fund III: $500 million

Disclaimer: we cannot guarantee these numbers are 100% complete as investments may have been made that we are unaware of.

To explore more on how allocators are investing, book a demo of Dakota Marketplace!

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Written By: Koncheng Moua, Director of Data Management and Strategy

Koncheng Moua is the Director of Data Management and Strategy at Dakota.

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