LP round up: pensions plan private credit pacing as strategic credit takes on "midfield" role
US pensions have allocated $1.4 billion across 22 credit funds including those managed by Angelo Gordon, Ares and GoldenTree, according to recent board documents seen by Creditflux. Meanwhile a pension fund draws parallels between strategic credit and Jordan Henderson

HPS managing director joins Ares direct lending team in New York
Ares Management has added to its direct lending team in New York

Sagard holds $650 million first close on second non-sponsored private credit fund
Sagard Credit Partners has held a $650 million first close on its second vintage credit fund, Sagard Credit Partners II. The vehicle has a $1.3 billion hard cap

Monarch collects $3 billion for fifth distressed and opportunistic credit strategy
The strategy invests across corporate credit, structured credit, real estate, government debt and special situations

LP round up: Arcmont, Ares and Sixth Street win European direct lending mandates
Investors have allocated around $2 billion to credit funds in recent weeks, according to board documentation seen by Creditflux. Among those to recieve allocations include ADM, Arcmont, Ares, Audax, Bain, Centerbridge, Clearlake, Goldman Sachs merchant banking,  Invesco, Monarch, Oaktree, Raven, Sixth Street and Sound Mark

KKR promotes three in credit team to managing director
KKR has unveiled 26 promotions globally to managing director, including three in credit

Credit fundraising: November marks turning point as fund launches spike
November was always set to be an important month as the world awaited the US election outcome and the results of covid-19 vaccine trials. This did nothing to slow down fund managers as 14 funds launched, up from only four funds launching in September and five in October

Dyal and Owl Rock in talks over merger via spac - a year after Dyal buys into direct lender
Dyal Capital Partners and Owl Rock Capital Group (a company in which it has an ownership stake) are in talks to merge courtesy of a spac which is sponsored by an affiliate of HPS (another company which Dyal has a minority equity stake)

Highbridge closes convertible dislocation fund with over $2 billion to deploy
Highbridge Capital Management has held a final closing of its convertible dislocation fund

First Eagle confirms launch of credit interval fund
First Eagle Investment Management has announced the launch of its credit interval fund, First Eagle Credit Opportunities Fund, which Creditflux reported on in July. The vehicle will invest across public and private credit

Mariner spin-out hires private debt specialist as CIO
Newmarket, which focuses on environmental and social themes, has appointed a CIO from a consultancy firm

Wingspire taps Garrison managing director for head of underwriting
Wingspire Capital has hired an ex-Garrison Investment Group official as managing director and national head of underwriting

Arena collects $519 million for final close on special situations fund
Arena Investors has become the latest credit manager to launch a special situations strategy

FS and KKR to merge BDCs to create $14.9 billion vehicle
FS Investments and KKR plan to merge their two business development companies into a single vehicle which would have about $14.9 billion in assets

Owl Rock hires in London for investor relations push
Owl Rock Capital, a New York headquartered manager, has made a senior hire to help build its investor base across the Atlantic 

LP round up: Monroe and Angelo Gordon beat 25 for direct lending mandate, as private credit plans brew
US public pension funds have disclosed $1.2 billion in commitments to credit focused strategies

Monroe sets $1.5 billion target for fourth lower mid-market direct lending fund
The Chicago-headquartered manager is targeting $1.5 billion for Monroe Capital Private Credit Fund IV. The vehicle held a $276.2 million first close last month

ICG collects €4.2 billion for senior debt strategy, plans real estate debt fund launch
Intermediate Capital Group collected a further €1 billion for its latest senior debt strategy over the past six-month reporting period, taking the total amount for ICG Senior Debt Partners IV and separate mandates up to €4.2 billion

Ares targets $4 billion for junior private credit fund
Ares Management is targeting $4 billion for its latest junior private credit fund, Ares Private Credit Solutions II

Manager shrinks in distressed and explores US direct lending sale: Debtwire
A global asset manager has a fresh set of priorities for its global credit platform with distressed debt and US direct lending moving down the pecking order

Neuberger Berman seeks investors for fourth private debt fund
Neuberger Berman is fundraising for a fourth private debt fund, a little over 18 months since it closed the previous offering

Calpers allocates $3.5 billion to Sixth Street and Goldman Sachs
Californian pension heavyweight Calpers is allocating a whopping $3.5 billion to private credit managers 

Värde closes $1.6 billion dislocation fund
Värde Dislocation Fund, has a flexible, global mandate to invest in mispriced, stressed and distressed credit, focusing on short- to medium-term credit opportunities

Puerto Rico-based direct lender seeks $200 million for new fund
Parliament Credit Opportunities Fund II will invest in senior financings to small and medium sized businesses across Puerto Rico and key Hispanic markets in the US

VSS holds first close on $400 million non-sponsored junior capital fund
VSS Structured Capital Fund IV will invest in non-control, non-sponsored, junior capital investments in US lower middle market companies