JP Morgan AM names head of private credit secondaries
The firm says the hire reflects “significant demand for secondaries strategies from clients across the globe, reflecting the need for greater liquidity to take advantage of opportunities as private debt markets mature"

KKR reports $115 billion dry powder as it changes public markets business name
KKR reported strong deployment and dry powder figures but fee-related earnings came short of expectations

Arena collects $930 million for second opportunistic credit fund
Arena has made a final close on a fund and surpassed the target it set at its first close in July last year

Ares plans four credit fund launches amid strong deployment
Ares Management benefitted from strong private credit deployment in the quarted and unveiled plans to raise its sixth European direct lending fund, second flagship closed-end alternative credit fund and third US junior capital direct lending fund

Carlyle's global credit business becomes largest share of firm's fee-earning AUM
Carlyle has held a first close on its second revolving credit fund, while saying its CLOs are ‘well positioned’ and it does not expect management fee deferrals anytime soon

Fund managers join forces on US asset-based lending platform
Castlelake has teamed up with Aequum Capital Founder to launch an asset-based lending platform, which will lend in ticket sizes of $1-10 million

Tikehau collects €3.3 billion for fifth European direct lending strategy
Tikehau Capital revealed in its H1 2022 results it reached a final close for its fifth European direct lending fund in July, collecting €3.3 billion for the strategy

First Eagle wraps up fundraising for $1 billion direct lending fund
The strategy will target 6-9% net internal rate of return for its unlevered sleeve and 8-11% net IRR of return for its levered sleeve

BlackRock closes £1.7 billion private debt fund with wide mandate for UK pensions
The firm has deployed around 60% of the fund, which invests across US and European direct lending, US and European real estate debt and the firm’s global opportunistic strategy

Alecta "closes the circle" as it invests with PGGM in Nordea SRT
Joint venture partners Alecta and PGGM Investments have printed a €2.5 billion significiant risk transfer with Nordea in what marks the first Simple, Transparent and Standardised-compliant SRT to reference pan-Nordic assets

Credit Rendezvous: Investors try to avoid suplex city as recession and inflation reform tag-team
Credit investors getting ready to lock up against that familiar 1970s pairing of inflation and recession. But the hard-hitting tag team has picked up some new moves, causing floating rate outperformance to give way to underperformance; synthetic credit to outperform cash; and CLO terms curves to reshape into barely recognisable positions

Five credit managers win nearly $1 billion from UK pension pool
Five private credit funds emerged as winners after UK pension pool Border to Coast revealed $1 billion in a wide variety of private credit commitments

Monroe goes on fundraising trail for second opportunistic private credit fund
Monroe Capital has incorporated vehicles for its second opportunistic private credit fund, just two months after closing its inaugural fund, according to regulatory filings

CSAM closes inaugural global direct lending fund with $3bn deployable capital
Credit Suisse Asset Management has held a final close of its inaugural private credit opportunities fund at $1.67 billion. With leverage, the fund will have ‘in excess of $3 billion’ to deploy

KKR collects $2.1 billion for inaugural asset-based finance fund
KKR is making a push in the $4.5 trillion asset based finance market, which its co-heads of private credit see as "one of the most compelling and fastest-growing opportunities”

Calamos and Aksia eye CLOs as part of new multi-credit interval fund
Calamos Advisors and Aksia have teamed up to launch a closed-ended interval fund that can invest across several areas of credit

SRT market keeps pumping deals as Greek and German banks free up capital
Dealflow in significant risk transfers is picking up, with a €2.7 billion Greek mortgage and SME lending deal and a €2.1 billion German corporate loan transaction printing in recent days

John Hancock and Marathon join forces on ABL fund with structured credit bucket
John Hancock Investment Management has teamed up with Marathon Asset Management for an asset-based lending fund, which can invest a portion of capital in liquid structured credit such as CLOs

Apera raises €1.27 billion for second European private debt fund
European mid-market direct lender Apera exceeded an initial €800 million target for the vehicle

Churchill raises $700 million CFO after targeting insurance company investors
Churchill Asset Management has raised $700 million for a collateralised fund obligation that will straddle its private credit and private equity business

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

Barings closes European private credit fund at €7 billion
Barings says it has raised €7 billion for European Private Loan Fund and related vehicles, having deployed €6 billion into 80 transactions of the last 18 months

Arcmont says liquid loan opportunities depend on timing as it advocates direct lending instead
Arcmont Asset Management has made the case for direct lending over syndicated loans in a white paper, despite having being an admirer of CLO management platforms 

LP round up: 28 credit managers win $6.6 billion as San Diego carves private credit allocation
Pensions allocated over $6.6 billion to credit managers in June including Angelo Gordon, Antares, Apollo, Ares, Beach Point, BioPharma, Brookfield, CarVal, Cerberus...

EU inflation prints frame challenge ahead as horror show first half ends
Financial markets are heading into the weekend with a rare stationary session, but the mood is more one of shellshock than considered positioning, after one of the worst first halves to a year on record