Wealth manager launches evergreen private debt fund
Cresset Partners has unveiled what it describes as an evergreen fund in Cresset Partners Private Debt Fund, a US middle-market credit strategy that lends to companies with $10-100 million ebitda

Muzinich holds final close on €800 million European private debt fund
Muzinich & Co says it has held a final close of Muzinich Pan-European Private Debt Fund II at €800 million

Blackstone promotes Marshall to global head of private credit strategies
Blackstone has promoted Brad Marshall to global head of private credit strategies

PSP and Aimco form credit partnership as Aimco poaches its global credit head
Public Sector Pension Investment Board (PSP) and Alberta Investment Management Corporation (Aimco) have struck a remarkable agreement which sees the pair jointly invest in credit and the transfer of a senior figure. 

Nassau adds $3.6 billion credit firm Angel Island to its platform
Under the deal, Angel Island will become a subsidiary of Nassau’s asset management unit, Nassau Asset Management

Reed Smith brings in private credit specialist as partner in London
Reed Smith has brought in a lawyer from McGuireWoods to its financial industry group

Alpha Dhabi taps Apollo Mubadala partnership with $2.5 billion private credit JV
The group will leverage Mubadala's relationship with Apollo Global Management to access "high quality private credit investment opportunities" 

Angelo Gordon launches non-traded BDC following private BDC merger
Angelo Gordon has launched a non-traded business development company, AG Twin Brook Capital Income Fund, following a merger with an existing $616.2 million private BDC managed by the firm, AGTB Private BDC

Churchill closes $737 million junior debt fund with small rated note
Churchill Asset Management closed its second junior debt fund, Churchill Junior Capital Opportunities Fund II, which includes a $65 million rated note to meet the needs of insurance company investors

Tikehau launches inaugural $300m CFO
Tikehau Capital says it has closed its inaugural collateralised fund obligation, joining the likes of Churchill Asset Management and Nassau Corporate Credit who have launched such structures this year. 

Carlyle targets $6.5 billion for credit opps fund
Carlyle Group is targeting $6.5 billion for its third opportunistic credit fund, according to a pitchbook seen by Creditflux

Fund performance: Light at the end of the tunnel for credit funds after difficult year
Following a tough September, credit funds bounced back in October as 59% of funds made positive returns.

Credit hedge fund returns (December 2023)
Credit hedge fund returns

Credit funds at a glance (December 2023)
A round up of fundraising and people moves in credit

EIB backs German bank's SRT
Landesbank Baden-Württemberg has issued an SRT with support from the European Investment Bank.

PAG closes 'largest' Asia-Pacific direct lending fund
PAG has closed its fifth pan-Asian direct lending fund, PAG Loan Fund V, at its $2.6 billion hard cap

Novicap raises €200m for credit platform and passes €1bn volume
Novicap, a fintech company offering working capital optimisation solutions to SMEs and mid-market corporations, has raised €200 million for its credit platform and hit a €1 billion trade milestone

LP round up: 27 managers find the top corner with investor wins
Credit fund managers like to take it one fund at a time and give it 110% for their 90-minute investor fund pitches - and it's working as $3.8 billion was allocated during November and early December. The gaffer would be proud. 

Crescent eyes non-traded BDC for private credit offering
Crescent Capital is looking to expand its middle market direct lending product suite, with the firm registering a non-exchange traded business development company with US regulators

AlbaCore eyes reinvestment as it closes €2.4 billion private credit fund
AlbaCore Capital has held a final closed on a fund that specialises in private European credit investments

CVC secures €6.3 billion for third European direct lending strategy
CVC Credit has smashed past its €2 billion target and closed its third European direct lending strategy, CVC Credit Partners European Direct Lending Fund III, at €6.3 billion. That figure includes parallel investment vehicles and managed accounts. 

Public credit markets "most attractive for 15 years" says Wamco
The US Federal Reserve is helping to create the potential for the "most attractive opportunity in public credit markets in the last 15 years", according to a research note published by Western Asset Management

Pictet hires private credit heads for France and Dach as it plots 2023 fund launch
Pictet Asset Management has expanded its new private credit team with several hires, including heads of private debt for France and Germany.

Ares senior official joins Vista to lead direct lending
Vista Credit Partners has appointed an experienced Ares official to lead its direct lending efforts

Private debt team spins off Trea to form independent manager
The private debt team has spun-off and will be rebranded Zenon Asset Management