ICG increases fundraising goal as direct lending funds near full deployment
London-based Intermediate Capital Group has increased its fundraising target to €6 billion per year on a rolling three-year basis

So much capital, so few deals: specialists fear for direct lending
No covenants, increasing leverage ratios and an outlook for rising rates means that direct lending is not all it's cracked up to be, according to several credit market participants

Hurdle rates topple as direct lenders look to boost fees
Some direct lending managers are lowering their hurdle rates in a bid to increase their fees

Direct lending head says market is overheating
A 2018 outlook report by KKR suggests now’s the time to reduce exposure to direct lending. This comes as another part of KKR goes on a direct lending fundraising spree

Managers predict skill will win out
We asked managers to predict the year ahead across a range of credit strategies. Overall, they had a positive outlook. By Grace Jennings-Edquist

European direct lending may not be as European as it seems
In European direct lending, raising capital has become the easy part of a manager’s job. But deploying that capital is more difficult, says Diala Minott, a London-based partner at law firm Paul Hastings

Carlyle's head of origination for credit earns promotion to partner
Carlyle Group has announced 58 senior promotions across all its global offices: eight to partner, 19 to managing director and 31 to principal/director

Searchlight and LionTree join forces on TMT investments
Searchight + LionTree = LightTree, a new partnership which will invest across debt and equity in the TMT space

KKR raises $2.24 billion for second private credit opportunities fund
Global investment firm KKR has announced the final close of its second private credit opportunities fund, KKR Private Credit Opportunities II, at $2.24 billion

Carlyle, ICG and Oaktree earn approvals as Chile's first alternatives managers
The news follows recent reforms to Chile’s Pension Fund Law allowing pension fund administrators to invest directly in alternative asset managers

Points up front: zombie managers near extinction
The long-term nature of CLOs means the market tends to have a large number of zombie managers, those with one or two deals outstanding but no plans for future issuance. However, a spate of redemptions, especially in Europe, has swept away some of the ghostly deadwood.

The biggest credit stories in 2017
CLO ramp-up risk, new risk retention proposals and new CLO joint ventures were in the headlines last year. Here, Creditflux reveals the most read stories of 2017

Direct lending leverage takes off
HPS, NXT and Crescent target mid market with leverage in Q4. By Grace Jennings-Edquist

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London direct lender seeks more than €1 billion for strategic credit fund
According to a market source, Pemberton's latest strategc credit fund is aiming to raise at least as much as its inaugural fund, which last year raised €1.2 billion from 27 investors

Private debt performance shines in institutional investing study
A quarter of institutional investors say private debt outperformed their expectations over 12 months to 28 August 2017

Private debt manager makes multi-million dollar sales for third credit opps fund
Private debt manager Park Square has made significant sales for its Capital Credit Opportunities III fund over the course of a year, regulatory filings indicate

London manager closes third credit fund at €459 million
Rothschild Credit Management has announced the final close of its third credit investment fund at €459 million

Balance of power shifts away from direct lenders
Mid-sized corporations are getting their way at the expense of direct lenders at the negotiation table, recent research suggests.

BNP Paribas acquires stake in SME credit specialist Caple
BNP Paribas Asset Management has acquired a 10% stake in Caple, which facilitates lending to small and mid-sized enterprises through a fintech platform

Closed-end fund Great Elm takes direct hit from falling satellite credit
Listed credit vehicle Great Elm Capital suffers income mismatch as largest position pays-in-kind

Ares keeps up direct lending growth and plans new credit fund launch
Ares Management’s credit business just keeps growing, with the firm planning a new fund launch and a continued push into European direct lending, according to a recent results presentation

StepStone plans to put $4 billion into private credit
StepStone is looking build its exposure to direct lending by hiring fund managers. It is willing to sign up to managed accounts of up to $500 million

Crestline raises $1.3 billion for its latest credit strategy
Crestline Investors has closed its third credit opportunity fund, according to a press release. The firm states that Opportunity Fund III and related managed accounts secured over $1.34 billion of capital commitments