Benefit Street Partners raises USD 4.7bn for latest flagship direct lending fund
Benefit Street Partners held the final close of its fifth flagship direct lending fund — dubbed BSP Debt Fund V — with USD 4.7bn of investable capital

Oaktree picks Morgan Stanley managing director for credit team
Oaktree Capital Management has hired Morgan Stanley's Loris Nazarian as managing director and assistant portfolio manager

Ares latest commitment for third direct lending fund comes from Los Angeles pension system
Ares Management continues to grow its Ares Senior Direct Lending Fund III with a new commitment from the Los Angeles Fire & Police Pensions

New Mexico sovereign fund allocates up to USD 350m to direct lending fund
The New Mexico State Investment Council approved a commitment of up to USD 350m to a senior private credit fund, targeting net returns between 11% and 14% over a three-year investment period

Houlihan Lokey taps Morgan Stanley private credit veteran for capital markets team
Houlihan Lokey has hired Morgan Stanley's head of private credit as a managing director in the firm's capital markets group to lead the bank's initiative to grow its US private credit placement practice

Bain closes fourth middle market credit fund with more than USD 1bn in commitments
Bain Capital held the final close of the Bain Capital Middle Market Credit 2022 fund with more than USD 1bn in commitments, the company revealed on Friday. The commitments to the fund, the fourth vintage of its kind, included parallel funds and certain related vehicles.

Golub poaches new co-head of global institutional sales from BlackRock
New York-based Andrea Picard is set to join Golub Capital this March as co-head of global institutional sales, as the New York-headquartered direct lender and middle-market giant lays the groundwork to expand its investor partners group globally

Alaskan fund allocates USD 75m to private credit fund
The Alaska Permanent Fund recently disclosed new alternative investment commitments, including USD 75m to a private credit fund. 

New report finds 2023 a record year for alternative credit M&A
A new report on “Acquisitions of Alternative Credit Managers” by credit specialist Gapstow forecasts that more M&A activity lies ahead for credit firms as they struggle with the challenges facing the broader investment management industry

Permira confirms co-heads of credit platform
European alternative credit manager Permira Credit has named David Hirschmann and Ariadna Stefanescu as co-heads, effective immediately, as parent company Permira makes plans to expand the credit business

KSL closes fourth private credit fund, surpassing USD 1bn target
KSL Capital Partners held the final close for its fourth private credit fund, exceeding its USD 1bn target. The travel and leisure-focused fund, dubbed the KSL Capital Partners Credit Opportunities Fund IV, closed with total commitments of USD 1.26bn.

Connecticut Retirement Plans and Trust Funds commits more than USD 600m to credit manager
Connecticut Retirement Plans and Trust Funds has allocated approximately USD 625m to pension funds in the state's private credit portfolio

Morrison Foerster taps Paul Hastings' lawyer for its finance group
Global law firm Morrison Foerster has hired Tammy Davies as partner in the firm's finance group. In her new role, the seasoned attorney will focus on private credit in the middle market.

Marathon adds private credit veteran
Marathon Asset Management has hired a private credit expert from pensions consultant Aksia 

San Francisco retirement system puts another USD 100m into private credit
The San Francisco City & County Employees' Retirement System recently disclosed another round of alternative investment commitments, this time totaling USD 365m, including USD 100m for the pension system's private credit portfolio

Wisconsin agency approves USD 55m in commitments for two private debt funds
The Wisconsin Board of Commissioners of Public Lands has approved two new debt commitments, according to recent meeting materials

Riverstone Credit Partners co-founders launch new energy credit investment company
New energy industry credit investment firm Breakwall Capital will focus on sustainable infrastructure investments, the circular economy and next-gen fuels

Managers advise caution despite upbeat outlook for private credit
The golden age of private credit isn’t over yet. In fact, industry experts remain bullish, anticipating continued growth in our breakdown of recent outlooks for the market

Private credit hit by growing pains as agreements get longer and execution slows
The rapid rise in private credit continues to stir up excitement among borrowers. But, despite the sector’s competitive advantages — such as speed of execution and light regulation — deals are taking longer to close as the industry expands.

Credit hedge funds
Credit hedge fund performance

Credit funds at a glance
Credit funds at a glance

Greensledge arranges new private credit CFO
Churchill Asset Management, an investment-specialist affiliate of Nuveen, announced on Monday it had closed its second collateralised fund obligation, or CFO

llinois Municipal Retirement Fund pumps hundreds of million more into private credit
The Illinois Municipal Retirement Fund has approved another round of alternative investment commitments, this time totaling USD 544m, including USD 400m allocated to private credit 

AustralianSuper increases private credit allocation as it seeks to triple exposure to the market
AustralianSuper has increased its investment mandate with private credit specialist Churchill Asset Management to USD 1.5bn, as Australia's largest pension system looks to triple its exposure in the fast-growing international private credit market

Canadian venture capital lender secures USD 150m for tech-focused private credit fund
Vistara raised fresh capital for its strategy of lending between USD 10m and USD 30m to mid-to-later-stage software companies across North America