Atalante says European direct lending AUM tops $292 billion in 2023, up more than tenfold since 2013
XLF•European direct lending expands rapidly
Atalante SAS flagged rapid expansion in European direct lending, with AUM rising to more than USD 292 billion in 2023 from about USD 26 billion in 2013.
- Direct lending now represents almost half of the European private debt market, outpacing other private debt segments.
- Basel IV rules are raising banks’ lending costs, accelerating the shift toward private credit.
- European infrastructure, energy security, defense financing needs are supporting demand for non-bank funding.
- Borrowers increasingly favor direct lenders for certainty, flexibility, speed; global investors seek greater geographic diversification within private credit.
