Crestline raises $1 billion for second portfolio financing fund
Crestline Investors has held a $1 billion final close on its second portfolio financing fund, Portfolio Financing Fund II

Ares launches new IG private credit strategy with senior hire
Ares Management has bolstered its credit capabilities by adding a new investment grade private credit strategy and hiring a managing director

Investcorp hires senior official to lead new Los Angeles office
The firm has expanded its US presence in the west coast and has hired a senior official responsible for growing investor relationships in the region

Park Square sells minority stake to Bonaccord
Bonaccord Capital Partners has bought a minority stake in $10 billion private credit shop Park Square Capital

Loomis Sayles builds private credit unit and starts by hiring Securian duo
Loomis Sayles has launched a private credit unit and has hired two from Securian Asset Management to lead the business

US pensions assign $1.5 billion to 16 credit managers in December
US public pensions rounded off 2021 by gifting credit managers around $1.5 billion in commitments, according to documents seen by Creditflux

GSO co-founders reunite as Hunter Point buys minority stake in Iron Park
Two of the three GSO Capital Partners co-founders Bennett Goodman and Tripp Smith have been reunited with Goodman’s Hunter Point Capital buying a minority stake in Smith’s Iron Park Capital

Blue Owl hires BlackRock veteran for private wealth role
Blue Owl Capital has hired a managing director and head of North American distribution from BlackRock

Pennsylvania pension reveals $500 million in commitments to three private credit funds
Pennsylvania Public School Employees' Retirement has revealed three private credit commitments as part of $1.1 billion in allocations to its alternatives bucket

BC closes $1.2 billion second special opportunities fund 12 months’ incubation
BCP Special Opportunities Fund II has collected $1.2 billion in capital commitments - but a year later than it originally earmarked a final close

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

Credit Fundraising: mega funds contribute to record-breaking month as volume hits $39bn
The sheer size of the funds raised in November more than compensated for a drop in the number of funds raised as fundraising volume in credit reached $38.9 billion. This beat September by $2.4 billion to make it the most productive month of credit fundraising in 2021

CIFC pushes into direct lending with LBC acquisition
CIFC Asset Management has agreed to buy middle market direct lender LBC Credit Partners

Ares rounds out bumper year for direct lending with $14 billion US fund
Ares Management is ending 2021 with yet another massive direct lending fund-raise

LP round up: CLO fund included in whopping $13 billion of credit allocations in November
Credit took centre stage in November as investors allocated over $13 billion to credit funds in the month, with one pension allocating $50 million for a European CLO risk retention fund 

Oaktree raises largest ever fund with $15.9 billion for "opportunistic credit" strategy
Oaktree Capital Management has closed its largest ever fund, collecting a whopping $15.9 billion on its latest opportunistic credit strategy, Oaktree Opportunities Fund XI

HPS among winners as Texas pension reveals $725 million allocation to credit
Texas County District & Retirement System has revealed over $700 million in allocations to credit funds it made in October and November - including $400 million to a HPS managed account

HPS targets $9.5 billion for fifth mezzanine debt fund
HPS Investment Partners is targeting $9.5 billion for its fifth global mezzanine debt fund, HPS Strategic Investment Partners V - but unlike earlier vintages, HPS says it will not target opportunities within the upstream energy space

Blackstone Credit names tech investing head
Blackstone Credit has promoted a New York-based official as its global head of technology investing

Ironwood targets $500 million for mezz debt and equity fund
Ironwood Capital is targeting $500 million ($550 million hard cap) for its latest fund which will focus on subordinated debt and minority equity investments in lower middle market US companies

Houlihan Lokey launches quarterly private credit index
Houlihan Lokey says it has launched a quarterly private credit index, which aims to increase visibility in private credit loans and inform investors’ views of market dynamics and help them make more better decisions

American Equity mandates $1 billion to Monroe for software and tech lending
American Equity Investment Life has awarded $1 billion to Monroe Capital for its technology lending platform focusing on middle market software, technology and recurring revenue

Supply chain crisis hits credit amid shift to physical products
Credit investors are bracing for choppy waters as the supply chain crisis makes itself felt on company balance sheets heading into the year end

Credit Fundraising: Private credit and CLO captive equity feature strongly as closes mount up
Credit funds have made a fair start to the fourth quarter, although the $21 billion raised during October is down substantially on September’s impressive record for 2021

Credit funds at a glance (November 2021)
A round up of fundraising and people moves in credit