Alternative Asset Managers Raise $257 Billion in Q3, Credit Strategies Drive Fundraising

Alternative asset managers raised $257 billion in Q3, with credit strategies driving most of the fundraising. KKR fetched $43 billion, its best quarter in over four years, while Carlyle's credit business carried the firm despite a slide in private equity earnings. Apollo's credit strategy exceeded total fundraising for every firm except Blackstone. Credit represented the largest share of money raised for Brookfield and Carlyle, while Ares garnered most of its fundraising haul from credit.