Fund performance: Credit funds post double-digit gains
June returns have once again been led by CLO funds, as seven out of the top 10 belong to our CLOs category.

Credit funds at a glance (August 2020)
A round-up of fundraising and people moves

Ucits at a glance: Ucits funds march on and erase Q1 losses
95% of Ucits credit funds listed with Creditflux posted positive returns in June to keep up the momentum from May when all but one fund was in positive territory

Credit hedge funds (August 2020)
Monthly credit hedge fund tables

PennantPark and Pantheon launch private credit joint venture
PennantPark Investment Corporation, a business development company managed by Pennant Park, has paired with Pantheon to form a private credit joint venture

Aon wraps up fundraising for $350 million opportunistic credit fund
The fund will target global investments across public corporate and structured credit, stressed credit and real estate debt

Castlelake targets $750 million for add-on to fifth distressed fund
Castlelake has launched an add=on vehicle to its fifth distressed flagship fund in order to take advantage of opportunities that have resulted due to the covid-19-related market dislocation, according to documents seen by Creditflux

Prime launches global fund of niche credit funds
Prime Capital is preparing a new fund of niche credit funds in a strategy the firm has dubbed Liquid Alternative Credit Fund, and the Frankfurt-based manager will launch the fund with $30 million capital from three seed investors

LP round up: pension creates private credit bucket as Florida eyes 'best distressed opportunity ever'
There was no slowdown in credit allocations last week, wrapping up what has been an extremely busy July. $1.4 billion has been allocated to credit, it has emerged over the last seven days, according to board documentation seen by Creditflux.

MSD collects $825 million for credit opportunities fund
The fund will invest across the corporate capital structure, including liquid and illiquid credit opportunities, structured financing solutions, and equities

Legg Mason teams with affiliate Western for credit fund
Legg Mason has teamed up with its affiliate Western Asset Management to launch a closed-ended fund to invest in a diversified portfolio of fixed income securities, according to fund registration filed by the pair yesterday

Azimut purchases 20% stake in US private credit manager
Azimut Group has purchased a 20% equity stake in a $2.1 billion opportunistic private credit manager

US private credit defaults jump to 8.1% with smaller firms taking the brunt
US private credit defaults increased up to 8.1% at the end of the second quarter, up from 5.9% in Q1, according to the Proskauer Private Credit Default Index

Z Capital adds to credit team with Garrison official
Z Capital Group has hired a former Garrison Investment Group official as a director and member of the firm’s credit investment team

First Eagle prepares corporate credit interval fund
First Eagle Investment Management is preparing to launch a new opportunistic credit strategy in the form of an interval fund

GSO reaches $7 billion for real estate debt fund
GSO’s latest real estate debt fund pulled in $2.1 billion across the second quarter and the vehicle’s AUM has now reached around $7 billion, according to Blackstone president and chief operating officer Jonathan Gray

Goldman Sachs collects $6.4 billion for opportunistic credit fund
Goldman Sachs’s merchant banking division has collected $6.4 billion from more than 1,500 investors on its inaugural opportunistic credit fund, West Street Strategic Solutions I

LP round up: Oregon eyes $1.8 billion into structured credit
Institutional investors have earmarked over $6 billion to credit funds over the past two weeks

Covid could trigger 'mega trend' into private debt, says Blackstone's Gray
The coronavirus pandemic could spark a 'mega trend' of investors into alternatives in private credit, Blackstone's president and chief operating officer said on the firm's second quarter earnings call on Thursday

Private debt secondaries volume nosedives 81% in H1
Global private debt fund secondaries volume nosedived 81.8% during the first half of 2020 as the effects of coronavirus began to surface, according to a recently released report by Setter Capital

Owl Rock eyes $2 billion fundraise for opportunistic credit
Owl Rock Capital is targeting a $2 billion final close on its opportunistic credit strategy dubbed Owl Rock Opportunistic Fund

Crestline prepares third speciality lending fund
Crestline Investors is preparing to launch its third speciality credit fund, Crestline Speciality Lending Fund III

Owl Rock names heads of credit and non-tech underwriting
Owl Rock Capital Partners has promoted two officials - one to a newly created role as head of credit and the other to head of non-tech underwriting

Credit Rendezvous: record fiscal stimulus provides pick-me-up
Credit markets had a mini bounce-back in the second quarter as central banks poured cash into the economy. But there is great uncertainty about the effects of a second wave of coronavirus. As part of our quarterly report on credit - the Credit Rendezvous - Creditflux spoke to experts across 12 segments of the credit market

First Eagle expands in asset-based lending with two senior hires
First Eagle Investment Management is expanding into asset-based lending and has hired two industry veterans to lead the business