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

Angelo Gordon closes $3.1 billion credit solutions fund in seven months
Fundraising for AG Credit Solutions II means the firm’s all-weather distressed and special situations platform has grown to $11 billion.

Pantheon exceeds $500 million target for second private debt secondaries fund
Pantheon has held a final close of its second private debt secondaries fund, Pantheon Senior Debt II, at $834 million

Ex-American Capital duo launch US direct lending business
Altimer Capital will provide financing to lower middle market companies that ‘provide or deploy technology to drive business agility and resilience

Beach Point launches $1.5 billion US direct lending joint venture with KeyBank
KeyBank Beach Point Direct Lending Program will combine sourcing, underwriting and structuring capabilities for middle market borrowers

Eagle Point hires for defensive income strategy team
Eagle Point Capital Management has hired an associate, responsible for assisting the defensive income strategy senior investment team

StepStone keeps up private credit growth with $600 million credit opps fund
StepStone Group has raised “over $600 million” for a fund that will invest in stressed, distressed dislocated credit assets

Monroe closes first opportunistic private credit fund with 'over 75 investors'
Monroe Capital has won commitments from ‘over 75’ investors, closing its inaugural opportunistic credit fund, Monroe Capital Opportunistic Private Credit Fund I, at $286 million

LP round up: Apollo and Silver Rock win over $1 billion as pensions plough into private debt
Institutional investors allocated at least $2 billion to credit funds in April, according to Creditflux data, with Apollo and Silver Rock emerging as big winners

StepStone raises $1.3 billion for direct lending fund of funds
StepStone Group has closed a second US direct lending fund of funds, StepStone Senior Corporate Lending II, at $1.3 billion, surpassing its $1 billion target

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

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

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

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