Private Credit Q3 2026: Preqin Quarterly Update

Private credit fundraising is tracking well ahead of 2025 total, though the growing share of LPs planning to commit to only one fund suggests investor selectivity is likely to remain a key theme

• Private credit fundraising reached $185bn through Q3 2026, already 95% of the full-year 2025 total, despite substantially fewer fund closes

• Europe-focused funds captured 72% of Q3 fundraising and 44% of capital raised globally through the first three quarters of 2026

• Investor selectivity continues to rise, with 79% planning to commit to just one private credit fund over the next 12 months