Advantages of non-sponsored direct lending recognised as pensions increase allocations
Non-sponsored direct lending is on the rise despite its inherent challenges, with pension systems upping allocations to funds dedicated to non-sponsored private credit.

Credit hedge funds
Credit hedge funds

Credit funds at a glance
Credit funds at a glance

Nomura-backed Corinthia lifts private credit team from Barings
More than 20 members of the global private credit team at Barings have jumped ship and joined Corinthia Global Management, a new platform backed by Nomura Holdings

Goldentree closes on USD 1.4bn private credit fund
GoldenTree Asset Management announced the closing of its Private Credit Fund today, with secured commitments of USD 1.35bn

Vermont pension system commits USD 125m to private credit
The Vermont Pension Investment Commission recently approved two separate allocations to private credit, totaling USD 125m

Manulife holds final close for USD 752m private credit fund
Toronto-headquartered Manulife Investment Management held the final close of its Manulife Capital Partners VII at USD 752m

Sidley hires Paul Hastings' partner
Sidley Austin has added a new partner in the law firm's global finance practice, representing direct lenders, private credit funds and banks

Hamilton Lane closes eighth vintage of flagship private credit fund
Hamilton Lane revealed the final close of its Hamilton Lane Strategic Opportunities Fund VIII today, a private credit strategy that invests across the capital structure

Carlyle's head of direct lending departs
Carlyle's Head of Direct Lending has left the firm to pursue other opportunities, according to a company memo

Funds round-up: Feb-2024 - managers turn to European wealth
European private credit managers turn to the wealthy in our roundup of notable fundraising in February 2024. 

Brevet Capital names new chief commercial officer
Boutique financial advisor Brevet Capital has promoted Mei-Li da Silva Vint to chief commercial officer

Maryland pension system allocates USD 30m to private credit
The Baltimore City Employees' Retirement System has approved two commitments totaling USD 30m for private credit funds

New Mexico sovereign wealth fund approves another USD 350m for private credit
Santa Fe-based fund invests in two managers as it focuses more heavily on direct lending, asset-based lending and special situations

Boston retirement system hunts for managers for USD 60m allocation to private debt
The Boston Retirement System has issued a request for proposals to investment managers in an effort to allocate up to USD 60m to private debt strategies

Wave of legal hires becomes a tsunami
In February alone legal heavyweights Allen & Overy, DLA Piper, Fried Frank, Kirkland & Ellis, Proskauer Rose and White & Case all announced the arrival of partners in the credit space

Texas-based pension system commits USD 90m to direct lending fund
The City of Austin City Employees' Retirement System, or COAERS, has committed USD 90m to the Blue Owl Diversified Lending Fund

Dallas retirement system allocates USD 60m to credit funds
The Dallas Employees' Retirement Fund has allocated USD 60m to three separate credit funds as the Texas-based system grows its allocations to private credit and distressed debt

Recruiters predict renewed private credit hiring spree
While job-hopping has become commonplace in the post-pandemic landscape, companies are expected to slow hiring in 2024. But some sectors are bucking the trend, including private credit.

Alternative asset managers increasingly tapping wealth channel for private credit fundraising
Wealthy individual investors have become increasingly appealing to alternative asset managers looking to raise money for private credit funds as asset managers look to broaden fundraising beyond institutional investors

Chris Flynn announces departure plans from First Eagle
First Eagle Alternative Credit has revealed plans to shake up its C-suite with the departure of President Chris Flynn in 2025, in addition to other senior-level changes

Ohio pension system allocates USD 50m to levered loan opportunities fund
The Ohio Police & Fire Pension Fund has committed USD 50m to a levered loan fund, the system's third private credit commitment for the plan year

Silver Creek Capital hires BlackRock exec as co-CIO
Private credit manager Silver Creek Capital Management has hired BlackRock alumni David Matter as co-chief investment officer

Ares raises USD 22.4bn for US direct lending in 2023
Ares Management continues to see increased appetite for direct lending. The alternative asset manager's private credit team raised roughly USD 10.1bn in US direct lending commitments in Q4 of 2023

Canadian manager raises CAD 350m for new private credit fund
Canadian money manager Fiera Private Debt raised CAD 350m in the first close of its Fiera Private Debt Fund VII. The private credit strategy focused on senior-secured term debt of middle market Canadian companies.