Private debt investing is a key asset class for impact investors seeking financial performance alongside measurable social and environmental outcomes. This second edition examines the financial performance of private debt impact funds, the drivers behind returns and the role of different investment strategies and sectors.

Developed by Symbiotics in collaboration with the Global Impact Investing Network (GIIN), the study helps address a market data gap on private debt return patterns. This edition expands the sample from 50 to 92 funds, representing USD 17.2 billion in cumulative assets across six investment sectors.