Large LPs turn to net asset value tools to finance private equity portfolios
NAV financing has a long history as a tool for private equity managers to get new capital into older funds, but now interest from creative institutional investors is widening its appeal.

Ventura County continues to invest in private credit funds
Ventura County approves $50 million for two private credit funds as target allocation increases.

Oaktree promotes head of performing credit
Oaktree shuffles its C-suite, announcing major changes for 2024's first quarter. 

Medalist Partners doubles size of private credit fund in final closing round
Medalist Partners enters final closing stages of its most recent private credit fund, nearly doubling the size of capital commitments from previous funds. 

Alaska Retirement Management Board commits $100 million to direct lending fund
It may be a tough environment for fundraising but the private credit market continues to pull in investments, with the Alaska Retirement Management Board agreeing to give up to $100 million to a fund

Oaktree closes life science fund with highest amount ever raised in the space
Oaktree Capital Management has raised more than $2.3 billion for its Life Sciences Lending Fund, the largest amount the firm has ever raised in the life sciences space.

L Catterton expands credit platform with new co-head of private credit
L Catterton's private credit platform is in expansion mode, announcing a new managing partner and co-head of private credit

Private credit firm launches new platform for structured financing
Private credit manager Victory Park Capital has launched Triumph Capital Markets, a new platform that focuses on structured financing and capital markets

Carlyle names future CFO
Carlyle has named John Redett its new chief financial officer and head of corporate strategy, the company has said.

Private credit is still the number one topic for investors, hears conference
Delegates at the Debtwire Private Credit Forum 2023 heard that private credit has become the favourite topic for institutional investors

Credit funds at a glance
Fund raising and people moves

Credit hedge funds
Credit hedge fund returns

HPS announces close for second core senior lending fund
HPS Investment Partners has closed its second Core Senior Lending Fund known as CSL II with around $10 billion of capital to invest

Market gears up for the Debtwire US Private Credit Forum 2023
Speakers in New York will discuss topics from LP insights and software lending to distressed situations and CLOs

Stonepeak hires veteran investor to expand credit team
Stonepeak, an asset manager specializing in infrastructure, announced that Michael Leitner has joined the firm as a senior managing director.

Apollo launches private markets secondary fund
Apollo has registered to launch its new private markets secondaries vehicle, Apollo S3 Private Markets Fund

Brightwood names former Wells Fargo MD as new chief credit officer
Brightwood Capital Advisors has hired Eric Pratt as chief credit officer in New York

LP round up: HPS wins $550m mandate as Ares launches third US direct lending fund
US institutional investors allocated nearly $3 billion to credit funds in April. The news comes amid a BlackRock survey in the month which showed significant investor interest in private credit

TPG in talks to buy Angelo Gordon: Bloomberg
The deal marks the private equity firm’s first foray into credit since parting ways with its credit arm Sixth Street in 2020

Managers raise rated-note feeders despite scrutiny from US insurance association
Alongside its investigation into CLOs, the National Association of Insurance Commissioners is weighing up its treatment of collateralised fund obligations (CFOs) and rated-note feeders

Credit hedge fund returns (May 2023)
Credit hedge fund returns

Credit funds at a glance (May 2023)
A round-up of people moves and fund raising

March madness sees most funds give up gains made in Q1
After a positive start to the year, credit funds ended the quarter with a step backwards; just under 30% of those listed reached positive returns for the month.

PGIM buys majority stake in direct lender Deerpath
PGIM has bought a majority interest in direct lending firm Deerpath Capital Management

KKR plans asset-based fund
KKR Asset-Based Income Fund will take a 'multi-sector' approach, investing across consumer finance, mortgages, small-medium sized enterprises, hard assets, infrastructure and contractual cash flows