Apollo earmarks $20 billion for dislocation fundraising over 12 months
Apollo's returns for corporate credit, structured credit and direct origination in the first quarter were down 8.3%, 14.7% and 4.8%, respectively, but the firm is looking to launch various credit strategies, including capital solutions, dislocation strategies and distressed strategies, that it “expects to accumulate $20 billion over the next year”

Angelo Gordon wins third opportunistic credit mandate with US pension
The familiar tale of investors favouring existing relationships shows as Angelo Gordon recieved $25 million for an opportunistic credit fund from a pension with two existing commitments to the New York-based manager

KKR deploys 10% of $2 billion coronavirus dislocation credit fund
KKR Credit has plans to launch a $2 billion dislocated corporate and asset backed credit fund to take advantage of coronavirus-induced volatility. And the New York-based manager has wasted no time swooping on opportunities after deploying $212 million by 9 April

Opportunistic credit funds take advantage of deal flow 'bonanza'
Opportunistic credit managers could emerge as big winners of the covid-19 crisis, if they raise money quickly to capitalise, as the pandemic sets off a chain of events causing severe financial stress in the market

SEC proposes new fund valuation framework
The US Securities and Exchange Commission has proposed a new framework for funds to determine fair value for assets for which market quotations are not readily available, which it says will "improve valuation practices and thereby protecting investors and improving market efficiency, integrity and fairness"

Angelo Gordon hires well-known credit strategist in New York
Angelo Gordon has hired an experienced credit strategist as a manging director in its investor relations team in New York

Arcmont hires former Golub official as US sales head
Arcmont Asset Management has appointed a head of US sales, a spokesperson for the firm has confirmed

New Mexico pension allocates $235 million to credit
New Mexico Educational Retirement Board has allocated $235 million to three credit managers, a spokesperson for the pension has confirmed

Arbour Lane collects $1.2 billion for special situations fund
Arbour Lane Capital Partners has hauled in $1.2 billion on a final close of its opportunistic credit and special situation fund, Arbour Lane Credit Opportunity Fund II, exceeding its $750 million initial target size

Credit Rendezvous: recovery begins, but is it U, V or even W?
Investing in credit is not as easy as ABC. The coronavirus crisis has crushed valuations and although most assets will eventually pull to par, no one is sure how the recovery will pan out

BlueTorch's Genda details direct lending flows and pricing as he ramps up new fund
BlueTorch Capital has witnessed a 20% pickup in dealflow since covid-19 but, while the company's portfolio has avoided retailers, airlines and hotels, it has not gone unscathed, said chief executive officer Kevin Genda

Tennessee pension awards $125 million to special situations credit fund
Tennessee Consolidated Retirement System has awarded $125 million to a special situations credit fund 

Onex revamps leadership of credit business after hiring from GSO
Jason New has joined Onex Credit as co-chief executive officer in New York, according to an announcement.

Bardin Hill pulls in $300 million for first close of opportunistic credit fund
Bardin Hill has held a first close on an opportunistic credit fund at around $300 million, according to sources familiar with the matter

Credit funds at a glance

A round-up of fundraising and people moves in credit

Ucits at a glance: Long-short approach lifts Pictet to the top

Fund perfomance: Slowdown for some as pandemic takes hold

US pension to cut long-term private markets pacing plan by 10%
The Educational Employees' Supplemental Retirement System of Fairfax County is considering reducing its 10-year private markets pacing plan commitments by around 10%, according to board documentation seen by Creditflux

Alcentra prepares listed credit fund
BNY Mellon Investment Advisor has teamed up with affiliate Alcentra to launch a listed fund that can invest across a range of credit strategies

Dispersion tests hedge fund managers

Credit funds at a glance
A round-up of fundraising and people moves in credit

Fund performance: CLO funds pick up where they left off
A round-up of fund performance

Rhode Island to step up private and 'opportunistic' credit investments
Rhode Island State Investment Commission, which manages the Employees’ Retirement System of Rhode Island, plans to increase its allocation to private credit and what it terms opportunisitic credit, according to investment consultant Cliffwater

Ohio pension makes commitment to private credit
School Employees Retirement System of Ohio is set to introduce a 5% private credit allocation to its portfolio  

US pension looks to put $60 million in private debt as older funds wind down
Boston Retirement System considers committing an additional $60 million to its private debt programme in 2020, following a recommendation by its investment consultant NEPC,