Experienced structured credit official raises $250 million to lend to VC-backed companies
Peter Thiel-backed investment management firm Tacora Capital has closed its inaugural fund at $250 million

StepStone scores AAA rating for listed bond linked to US direct lending portfolio
StepStone Group has sponsored a $102.5 million securitisation of US direct lending loans that is listed on Mexico’s BIVA Stock Exchange in what it claims is the first transaction of its kind in Mexico

MKP partner joins Orchard in new global distribution role
Orchard Global Asset Management has hired an experienced figure from MKP Capital in the newly created role of global head of distribution and investor relations

Constellation buys into real estate and mid-market corporate specialist
Constellation Capital has bought a passive, minority equity stake in Post Road Group, according to a joint-announcement. The transaction comes shortly after Post Road raised over $300 million for Post Road Special Opportunity Fund II

LP round up: Fidelity wins big, Pacific retains loan mandate, pensions eye distressed
The month also included one CLO fund commitment, one high yield manager search, one finalised US loans mandate and one $400 million multi-sector fixed income managed account mandate

Spac pricing hints at Sound Point's growth ambitions in loan market
Sound Point Acquisition Corp has priced a $225 million IPO, signalling that credit asset manager Sound Point Capital Management is looking to expand its platform

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

AB targets software companies after niche securitisation
Deutsche Bank priced an unusual securitisation for AB last month. The deal accommodates the manager’s expertise in the software and technology sector

All rise: investor fights inflation with litigation financing
With the US consumer price index rising to 7.5% in February, investors are looking to niche investment strategies to hedge against inflationary pressure

Churchill names Wells Fargo official to newly created head of fund finance role
Churchill Asset Management has created the new role of head of fund finance to help it utilise leverage strategically across its fund strategies

GoldenTree hires Goldman Sachs official as head of private credit origination
GoldenTree Asset Management has hired Goldman Sachs official as partner and head of private credit origination

Crescent raises $6 billion for US direct lending strategy
Crescent Capital Group has closed its third US direct lending fund, Crescent Direct Lending Fund III, with $6 billion of investable capital 

Man names co-heads for new SRT business
Man Group has appointed two Elanus Capital officials as co-heads of its new credit risk sharing strategy, which will sit in its $3.5 billion private market business

LP round up: two CLO funds win support as Cali pensions home in on private credit
Two investors revealed allocations to European and US CLO funds, private credit allocations increases and private credit consultant searches get underway

PineBridge collects $1.7 billion for second US direct lending strategy
The fundraise brings PineBridge’s private credit assets under management to $3.3 billion

Infrastructure manager targets €1 billion for eclectic mix of project finance debt and SRTs
A Copenhagen-based firm is launching its first credit fund and has partnered with an SRT specialist in London for a component of its potential €1 billion offering  

Coller closes $1.4 billion private credit secondaries fund
Coller has nearly doubled the target size of its inaugural private credit secondaries fund, Coller Credit Opportunities I

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

Barclays seeks head of SRT risk
Barclays is looking to hire a head of SRT risk for its wholesale credit portfolio, having established a credit risk transfer programme under the Colonnade branding 

Credit Rendezvous: the upside of inflation
It is clear, inflation is not transitory and central banks are acting with several interest rate hikes likely in store for the US this year. That makes loans and CLO debt tranches attractive, but there could be opportunities beyond these floating rate assets

Castlelake climbs to $1.6 billion final close on fourth aviation fund
The Minneapolis-based firm says it has deployed just over half of the $1.6 billion fund, which invests in “high quality, younger mid-life aircraft and related aviation assets”

Gapstow expects strategic deals as credit manager M&A volume slumps to $120 billion
M&A volume involving credit asset managers dropped last year with total target value assets under management slumping to $120 billion from $149 billion in 2020 (and $254 billion in 2019), according to Gapstow Capital Partners

Natixis IM to sell stake in Canadian asset manager Fiera
Natixis Investment Managers is selling all 10.68 million class A subordinate voting shares it holds in Canada's Fiera Capital

Blackstone secures $8.75 billion for lending fund
Blackstone Credit has collected $8.75 billion on the final close of its latest credit opportunities fund, Blackstone Capital Opportunities Fund IV, above its $7.5 billion target

Apollo launches $1 billion non-traded private credit BDC targeting individuals
Apollo has launched its first non-traded business development company, Apollo Debt Solutions BDC, with ‘more than $1 billion’ assets under management