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

17Capital raises '‘largest debut private credit fund' since 2009
17Capital has closed what it claims is the ‘largest debut private credit fund raised globally since 2009’ as its inaugural NAV lending private credit fund hit its €2.6 billion hard cap. The fund's carried interest is also tied to a charity pledge

Alantra hires two senior officials to private debt team
Alantra has hired two senior officials to its private debt team from BeSpoke and Seaport 

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

LP round up: Oak Hill wins $3bn mandate as credit allocations near $10bn in March
Institutional investors revealed over $9.5 billion of allocations to credit funds in March. Oak Hill Advisors walked away with the largest mandate, as US heavyweight pension Calpers allocated a whopping $3 billion across several of its funds

Boston has more than a feeling for private credit as pension issues RFP
Boston Retirement System is seeking private credit managers to manage around $60 million

Portfolio manager leaves Hayfin after one year
A London-based official in Hayfin Capital Management's private credit team has left the firm