IPE institutional market survey: High yield bonds and loans managers 2025
IPE’s 2025 institutional high yield market survey charts an 8.5% drop in high yield managed assets within the European institutional client segment.
This should be set against the 13% increase in overall global high yield and leveraged loan AUM for the 45 managers in this year’s report. Overall high yield assets for European institutional investors fell from €162bn last year to €148bn this year. Assets managed for pension funds are stable, at around €43bn, out of a total of more than €715bn in global client assets invested in high yield and leveraged loan strategies and €292bn for institutional investors globally. BlackRock, PGIM and Neuberger Berman are the global leaders, but Barings, PGIM and Swiss Life Asset Managers dominate the European institutional field.
Full data access
This summary shows headline data. The full dataset includes more detailed data on individual managers and is available to subscribers at ipe.com/research. To subscribe to IPE visit ipe.com/membership and for further information about the research or to participate in future surveys, contact dominic.gane@ipe.com
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IPE covers a good variety of very current and relevant topics. It is good to read the high-level, independent and objective perspectives from pension funds in other European countries; many of them are dealing with the same issues as we are, so it is interesting to learn from their experiences, especially when they are ahead of where we are on the curve.
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