Credit funds at a glance (May 2022)
A round up of fundraising and people moves in credit
   

Dispersion begets dispersion in mixed bag of fund returns
Idiosyncratic risks are set to rise in credit, with fund managers becoming occupied with tail risks, and that has been seen in a scattered set of March hedge fund returns

Pemberton hires Allianz GI official to lead new Munich office
Pemberton has opened its second German office in Munich and has appointed a former Allianz Global Investors official to lead 

Proskauer hires private credit partner as it expands in Chicago
Proskauer has appointed the first partner in the firm’s Chicago office

Churchill hires Antares official to lead new Los Angeles office
Churchill Asset Management has hired a managing director in origination, responsible for leading the new Los Angeles office

Medley and former CEOs pay $10 million to settle SEC charges over AUM misrepresentation
The respondents have agreed to pay $10 million in civil penalties, without admitting or denying the findings

US pension seeks private debt managers for up to $600 million allocations
Oklahoma Teachers Retirement System is seeking multi-strategy private debt managers for its 2022 allocations

Kayne Anderson closes fourth middle market direct lending fund
The firm says it has collected $4.5 billion of investable capital across Kayne Senior Credit Fund IV & IV-B, two private business development companies, managed accounts and other vehicles investing alongside the fund

Monroe collects $4.8 billion for fourth US direct lending fund
Monroe Capital has closed its latest US direct lending fund with $4.8 billion of investable capital, which includes $2.3 billion in commitments, $1.1 billion of leverage and $1.4 billion from managed accounts

Ares buys mid-market portfolio from direct lender for $2.4 billion
As of 31 December, the portfolio is backed by 28 private equity sponsors and 46 borrowers, with an average $44 million investment size

Z Capital makes three senior leveraged credit hires including CLO specialists
Z Capital Credit has hired three directors to its investment team

Massachusetts pension seeks direct lender for $20 million allocation
Plymouth County Retirement Association is seeking proposals from direct lenders focusing on sponsor-backed senior loans to middle market North American companies

Mid market CLO sales explode with BlackRock, Churchill and Monroe printing deals
Middle market CLO sales flared on Friday, with managers pricing three deals worth a combined $1.2 billion

Antares upsizes billion-dollar CLO in third-largest primary transaction of 2022
Antares Capital reset its 2018-2 CLO via Deutsche Bank on Thursday, in the third-largest primary market transaction of the year at $1.06 billion

Northleaf hires to private credit team in Chicago
Northleaf Capital Partners has hired an associate within the firm’s private credit team

Benefit Street hires managing director to lead software and tech private debt origination
Benefit Street Partners has hired a former AB official as managing director to lead the firm’s software and technology private debt origination

17Capital raises '‘largest debut private credit fund' since 2009
17Capital has closed what it claims is the ‘largest debut private credit fund raised globally since 2009’ as its inaugural NAV lending private credit fund hit its €2.6 billion hard cap. The fund's carried interest is also tied to a charity pledge

Alantra hires two senior officials to private debt team
Alantra has hired two senior officials to its private debt team from BeSpoke and Seaport 

Brightwood expands risk and underwriting teams with two hires
Brightwood Capital Advisors has made two fresh hires to its risk and underwriting departments

Deerpath senior CLO tranche reaches 195bp to shed light on mid-market pricing
Deerpath Capital Management has revealed mid-market CLO pricing levels in the primary market after disclosing discount margins on its new issue, which priced on Monday 

AB upsizes 2019 mid market CLO by $48 million with reset
AB has reset its 2019 middle market CLO named ABPCI Direct Lending Fund CLO VI, upsizing the deal by $47.4 million including $7.72 million new equity

Stellus to use tech to connect with wealth advisors for direct lending expansion
Direct lender Stellus Capital Management says it has formed a partnership with ICapital, a fintech platform

Credit funds at a glance (April 2022)
A round up of fundraising and people moves in credit