London-based investment house BlueBay Asset Management has raised over €3bn for its third private debt vehicle amid surging appetite for the asset class, FN's sister publication Private Equity News reports.

Preqin's 2017 Global Private Debt Report found that 93% of investors believe that private debt investments beat expectations in 2016. As a result of the strong performance, just under two thirds of investors said that they planned to increase their allocation to the asset class.