LP round up: private credit takes big slice of inflows as 10% portfolio share projected for 2026
Institutional investors revealed nearly $4 billion allocations to credit funds in July, with recipients including Angelo Gordon, Apollo, Ares, BlackRock, Brookfield, CarVal, Comvest, Deerpath, KKR, Schroders and Sixth Street

Apollo invests $1 billion in IG CLOs, launches secondary solutions platform and cuts BDC fees
In its earnings call, Apollo highlighted the resilience of the CLO asset class, strong deployment in direct lending, upcoming reduction in management fees for its publicly traded BDC and the launch of a new secondaries and sponsor solutions platforn, seeded by Abu Dhabi Investment Authority

HPS launches sixth direct lending fund
The firm's previous fund in the series closed in September with over $15 billion of investable capital

Cheyne looks to uncover value in sponsorless loans
Cheyne Capital Management is eyeing sponsorless direct lending opportunities for a fund launch later this year

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

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"

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

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

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

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

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

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

Private fund All Seas builds momentum with third investment
All Seas Capital – the direct lender launched by former KKR executives in 2019 – has signed its third direct lending investment

NIBC agrees to sell €500 million loan book
NIBC Bank has agreed to sell a €500 million mid-market loan portfolio to Oldenburgische Landesbank and Dutch insurer ASR. 

Schroders appoints private credit solutions head
Schroders has apppointed a former Federated Hermes official as head of private credit solutions