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 

Leucadia seeds European distressed and credit opps firm Pearlstone
New opportunistic credit firm Pearlstone Alternative has received backing from Leucadia Asset Management in the form of seed capital and distribution services

Pemberton finds direct lending edge in NAV financing
NAV financing for private equity sponsors is gaining popularity, with Pemberton Asset Management the latest manager getting in on the act

Credit investors look to outsource as risks begin to add up
Institutional investors and managers are outsourcing to third parties as credit and macro­economic risks mount

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

Franklin Templeton buys Alcentra in $700 million deal
Franklin Templeton has agreed to buy BNY Mellon’s $38 billion credit unit Alcentra, which will see Alcentra combined with Franklin Templeton’s US credit manager Benefit Street Partners

EIF back's Irish direct lender's €335 million fund
The European Investment Fund has made its first 'diversified' debt fund investment in Ireland after allocating €70 million to DunPort Capital Management’s Oak Corporate Credit DAC

Pantheon exceeds $500 million target for second private debt secondaries fund
Pantheon has held a final close of its second private debt secondaries fund, Pantheon Senior Debt II, at $834 million

HSBC raises $1 billion for UK direct lending
The strategy was launched in early 2021 as part of the firm’s ambition to grow its alternatives capabilities

Chenavari takes three-pronged approach with new specialty finance fund
Chenavari has raised capital for a specialty finance fund, officials at the company have confimed to Creditflux. The fund, the firm’s latest vintage private credit strategy, launched in February

Fidelity International makes senior direct lending hires in private credit push
Fidelity International has been staffing up in European direct lending, with 12 additions to the private credit team that was established a year ago

LP round up: Apollo and Silver Rock win over $1 billion as pensions plough into private debt
Institutional investors allocated at least $2 billion to credit funds in April, according to Creditflux data, with Apollo and Silver Rock emerging as big winners

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

Dispersion begets dispersion in mixed bag of fund returns
Idiosyncratic risks are set to rise in credit, with fund managers becoming occupied with tail risks, and that has been seen in a scattered set of March hedge fund returns

Pemberton hires Allianz GI official to lead new Munich office
Pemberton has opened its second German office in Munich and has appointed a former Allianz Global Investors official to lead 

US pension seeks private debt managers for up to $600 million allocations
Oklahoma Teachers Retirement System is seeking multi-strategy private debt managers for its 2022 allocations