Fundraising and deal volumes show signs of picking up after falling sharply in 2023. European private credit markets suffered a sharp slowdown in 2023, with deal volumes and fundraising numbers plummeting back to pre-pandemic levels. But there were signs of a rebound in the fourth quarter of 2023. John Anderson, a specialist in credit funds in the Private Investment Funds practice at Goodwin, is also optimistic about the outlook for 2024. “With the view now being that interest rates will likely taper down slowly and stay high relative to prior years, private credit continues to be attractive to LPs as there continues to be elevated risk adjusted returns. “What I hear from LPs now is that they have money to allocate, so they are looking for opportunities. We have a lot of GPs all trying to raise money, so saturation is a worry, but we expect a gradual recovery with a lot of funds trending positively this year leading to some solid closes in 2025.” More in Private Debt Investor.