Blackstone launches rated-note feeder for direct lending strategy
Blackstone has launched a rated feeder fund, which is linked to a direct lending strategy

Virginia pension discloses $800 million in credit allocations
Virginia Retirement System has disclosed $800 million in credit fund allocations made over the first quarter of this year

Pimco eyes CLOs as part of new flexible credit interval fund
Pimco is preparing to launch a new closed-ended, non-listed interval fund, named Pimco Flexible Corporate Income Fund, which will invest at least 80% of assets in corporate debt across public and private credit markets

Hunter Point buys minority stake in secondaries specialist Coller
Hunter Point views the secondaries business as a ‘dynamic and growing asset class’

Rated-note feeder funds emerge as CFO alternative
Insurance companies are increasingly looking to invest efficiently in credit products. The resurgence of collateralised fund obligations has been well documented, but sources say rated-note feeders are also gaining in popularity

CLO funds make best of a bad situation
It can’t get any worse can it? Well, it did in 2022, when credit spreads kept moving wider. Still, CLO funds were able to withstand the pressure, and they outperformed other credit strategies

Fund performance: European CLO funds lead the way
February was a positive month for many funds, as only one quarter failed to reach the black. This builds off a stellar start to the year: 96% of funds reached a positive return in January

Credit hedge fund returns (April 2023)
Credit hedge fund returns

Credit funds at a glance (April 2023)
A round up of people moves and fundraising

"It’s critical to understand that lower marks are not necessarily indicative of declining borrower performance"
Despite rate hike plans going unchecked, there is cause for optimism in private credit

LP round up: opportunistic credit dominates as investors allocate $2.2 billion
US institutional investors invested at least $2.2 billion to credit funds in March, according to documents seen by Creditflux, with opportunistic credit funds dominating commitments

HPS raises $12 billion for fifth junior capital fund
HPS Investment Partners has closed its fifth junior capital solutions fund, HPS Strategic Investment Partners V, at $12 billion. With leverage, the strategy has $17 billion investable capital

Illinois pension seeks direct lending and opportunistic credit funds for $300 million allocation
Illinois Municipal Retirement Fund is searching for direct lending, opportunistic, and distressed/special situations private credit funds with plans to allocate at least $300 million capital

Fidelity Investments raises over $100 million for BDC
Fidelity Investments says that its business development company, Fidelity Private Credit BDC, is up and running with “in excess of $100 million”.

Fundraising specialist joins Moelis in New York
Moelis has announced the hire of an experienced fund placement and fundraising specialist as managing director and senior member of its private funds advisory unit.

Ares targets $5 billion for second credit 'Pathfinder' strategy
Ares says it is finding relative value in FinCo loans, rescue financing, asset portfolios and residential mortgages and is monitoring opportunities in CLO tranches

Marathon appoints senior official to lead direct lending business
Marathon Asset Management is making a push into direct lending 

L Catterton plots credit platform growth with Hunter Point minority stake
Hunter Point Capital has bought a minority stake in L Catterton, with a particular focus on helping grow the firm’s new credit business

Nomura's private capital unit launches credit interval fund
Nomura Alternative Income Fund has a flexible allocation across private and public credit sectors, depending on relative value opportunities

Arrow overshoots €2.5 billion target for second credit opps fund
Arrow Global has closed its second credit opportunities fund at its hard cap, collecting around €2.75 billion and exceeding its €2.5 billion target

Ares and Mubadala establish $1 billion global credit secondaries JV
The pair aim to capitalise on the 'anticipated growth and substantial demand’ from managers and investors for customised liquidity solutions

CIFC hires investor relations specialist from BlockTower
CIFC Asset Management has hired a managing director in its investor relations group from BlockTower Capital

Deerpath leaps to $1.5 billion close for US lower mid-market direct lending fund
With leverage, the strategy has $2.8 billion in capital available to deploy

Audax becomes first manager of 2023 to reset a CLO
Audax Private Debt has become the first manager of 2023 to complete a CLO reset, teaming with Bank of America to rework its 2020 middle market deal named Audax Senior Debt CLO 4

Middle market CLO volumes surpass $2.5 billion in March after Churchill prices
Middle market CLO issuance for March climbed to $2.69 billion on Thursday after Churchill Asset Management priced a new transaction named Churchill MMSLF CLO II