The DLX Direct Lending Index measures the risk and return characteristics of globally listed debt companies. From an investor’s perspective there are typically two ways to get exposure to private debt. The first way is via closed-end funds. Limited partners such as banks, insurance companies, pension funds or high net worth individuals commit capital to a fund. The limited partners commit their capital for a fixed time horizon. A complement to buying a limited partnership interest is to get exposure to private debt through private debt companies traded on stock exchanges. However it can be challenging to identify the relevant companies within the equity universe. LPX AG has built up a comprehensive proprietary database of listed debt companies. Criteria for inclusion in the database are (i) provision of debt or mezzanine capital to unquoted companies, (ii) at least 50% of total assets invested in debt or mezzanine capital and (iii) listed on a stock exchange.