Former Barings co-head of North American private finance lands at US direct lender
The ex-Barings co-head of North American private finance has landed at lower middle market US direct lender

HIG closes $1.65 billion US direct lending fund focused on non-sponsored deals
HIG WhiteHorse has closed a US direct lending strategy focused on sponsorless companies, HIG WhiteHorse Direct Lending Fund - 2020

Credit Rendezvous: And breathe...
The unanimous verdict is that credit spreads will be moving wider – they have to. But the difficulty credit fund managers face is predicting when the next sell-off comes and how sharp it will be. In the Q3 instalment of Creditflux’s Credit Rendezvous, the over-riding message from portfolio managers is that there’s little point in taking on too much risk. The report features the views of prominent credit figures including Paul Horvath (Orchard), Himani Trivedi (Nuveen), Ronnie Jaber (Onex), Graham Rainbow (Alcentra) and Michelle Russell-Dowe (Schroders). The report looks at 14 segments of the market including CLOs, direct lending, leveraged loans, distressed debt and credit derivatives.  

Northleaf closes global private credit fund with $1.2 billion deployable capital
Northleaf Capital Partners has raised more than $900 million for its second private credit strategy, Northleaf Private Credit II 

Golub deal volume hits record $9 billion in Q2
Golub Capital says the second quarter was its most productive ever in terms of deal origination

CIC holds final close on mezzanine fund at €450 million
CIC Private Debt has held a final close on its fifth mezzanine fund at €450 million, which it says is €50 million over its initial target

Antares hires experienced investor relations official from Barings
Antares Capital has hired a head of investor coverage in asset management

Diversity database shines light on credit firms not stepping up
Private credit managers are significantly lagging behind their industry counterparts when it comes to hiring under-represented groups, including front office, distribution and investment committee roles, according to data from Diversity­Metrics, a new data-driven platform launched by executive search firm Jensen Partners

Fund performance: Déjà vu as April leaders dominate
CLO funds stayed in the top flight for another month as they took over the top 10 credit hedge fund return table in May, when 87% of all funds listed made positive returns

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

Credit fundraising: managers take care of infrastructure with new partnerships
Credit managers were busy launching new partnerships to support growth in infrastructure and CLOs. There were 13 announcements in the month paving the way for upcoming funds, platforms, and joint ventures

MV collects €526 million for second senior direct lending fund
MV Credit has held a final close on its second senior direct lending fund, MV Senior II

PennantPark closes levered sleeve of private credit fund at $460 million
PennantPark Investment Advisers has closed the levered sleeve of its fifth comingled fund, PennantPark Senior Credit Fund Levered. Its unlevered sleeve, PennantPark Senior Credit Fund, is due to hold a final close in December

KSL amasses $753 million for fourth travel and leisure credit fund
 KSL Capital Partners Credit Opportunities Fund III had an initial $675 million target and fundraising took ‘less than a year’

Incus targets €500 million for fourth SME credit fund
The Madrid-headquartered firm has launched its fourth asset-backed European credit fund, Incus European Credit Fund IV, with a €500 million target and €650 million hard cap

KKR adds two senior private credit hires as it eyes new receivables and inventory financing strategy
KKR has added a former Credit Suisse and Sound Point Capital official to its private asset-based finance team 

Bridgepoint signals IPO and eyes real asset acquisitions
Bridgepoint unveiled its intention to go public on Tuesday, with the manager planning to issue £300 million worth of ordinary shares listed on the London Stock Exchange

KKR opens Stockholm office
KKR has expanded its presence in the Nordics with an office in Stockholm

RiverRock closes €604 million senior direct lending fund
RiverRock has held a final close on RiverRock Senior Loan Fund I at €604 million, with around 50% of the portfolio deployed

HarbourVest nears $600 million final close on US direct lending fund
HarbourVest Direct Lending Fund will invest in US private equity-sponsored mid-market companies with ebitda between $10 million and $150 million

Siguler Guff retains nearly 90% for second $450 million opportunistic credit fund
Siguler Guff has closed its second credit fund, Small Business Credit Opportunity Fund II, at $450 million

Muzinich launches APAC private debt fund with DBS as anchor investor
Muzinich has launched an Asian special situations fund named Muzinich Asia Pacific Private Debt I

Marathon targets $300 million for inaugural healthcare credit fund
Marathon Asset Management is targeting $300 million for a credit fund focused solely on healthcare loans

Wisconsin pension seeks evergreen private credit fund
The Employees’ Retirement System of Milwaukee County is on the hunt for private credit fund managers

Stepstone wins €215 million private debt mandate from Italian pensions
A consortium of Italian DC pension funds have allocated the capital to a private debt fund of funds under the name Project Zefiro