Private debt racing towards consolidation Submitted 10/02/2021 - 1:40pm By A Paris – Competition has been ramping up in the private debt arena as more managers chase fewer transactions globally. This is paving the way for consolidation in the space as some of the more aggressive players may stumble, having taken on too much risk, and the larger lenders look for solid acquisition targets among the more cautious groups. Private debt is expected to be one of the fastest growing asset classes over the next five years.