Credit funds at a glance (September 2021)
A round up of fundraising and people moves in credit

Audax prints its largest middle market CLO to date
Audax Private Debt has issued its largest CLO to date named Audax Senior Debt CLO 6, which came in at $601.35 million

Silver Point makes CLO debut with $400m middle market deal
Silver Point Capital has become the third manager to debut in US CLOs after printing its first CLO on Friday

KKR prints largest new CLO of 2021 with static mid market deal
KKR Credit has priced the largest new issue CLO of the year to date, teaming with Bank of America on the huge $1.13 billion static deal named KKR Lending Partners III

SMBC Nikko builds on CLO momentum with mid market deal for Monroe
SMBC Nikko has picked up its third CLO credit this year

Fidelity adds senior hire from Madison Capital to new direct lending team
Fidelity Investments has hired a former managing director at Madison Capital to its new direct lending team

Credit Fundraising: Blue Owl and WhiteHorse gain from improving animal spirits
Fundraising perked up in July as managers raised $14.9 billion for credit funds - the third highest monthly amount this year

JP Morgan AM taps Wells Fargo duo to lead private debt expansion
JP Morgan Asset Management has extended its private credit business with a new global performing credit group, hiring former Wells Fargo Asset Management officials as co-heads 

Golub adds BSL CLO and extends mid-market advantage with reset
Golub Capital Partners has followed up its hefty middle market CLO in July with a slightly smaller $559.1 million broadly syndicated loan deal via Credit Suisse as well as a reset of a 2020 transaction

"It’s not unusual for investors to toggle between the US and Europe depending on pricing and terms"
The accents may be different, but US and European direct lending markets have a lot in common

Credit investors seek alpha as delta variant creates volatility
The leveraged loan and private debt markets have been on a tear for the first half of the year, but analysts are forecasting a more volatile six months ahead

Mid market CLO league tables: stalwarts Golub and Natixis reign supreme again
It may have taken seven months, but the mid market CLO league tables have familiar faces at the top with Golub Capital and Natixis leading the way in manager and arranger issuance, respectively

Morgan Stanley IM rakes in $1.6 billion for junior debt fund
Morgan Stanley Investment Management has closed its latest junior direct lending fund, North Haven Credit Partners III, at $1.6 billion

Silver Point raises $2 billion for direct lending
Silver Point Capital has raised $2 billion through its direct lending business for Silver Point Specialty Credit Fund II. The firm says this is its hard cap and that $1 billion was its target

BlackRock issues low levered, mid-market CLO with two arrangers
BlackRock has priced its second CLO of the year backed by loans to middle market companies

SLR targets $1 billion deployable capital for healthcare direct lending fund
SLR Capital Partners has surpassed the halfway mark on its first dedicated healthcare-focused direct lending fund, making a $480 million initial close

Blue Owl closes $2 billion debut opportunistic credit fund
Blue Owl has closed its inaugural credit opportunities fund, Owl Rock Opportunistic Fund at its $2 billion target

Former Barings co-head of North American private finance lands at US direct lender
The ex-Barings co-head of North American private finance has landed at lower middle market US direct lender

HIG closes $1.65 billion US direct lending fund focused on non-sponsored deals
HIG WhiteHorse has closed a US direct lending strategy focused on sponsorless companies, HIG WhiteHorse Direct Lending Fund - 2020

Credit Rendezvous: And breathe...
The unanimous verdict is that credit spreads will be moving wider – they have to. But the difficulty credit fund managers face is predicting when the next sell-off comes and how sharp it will be. In the Q3 instalment of Creditflux’s Credit Rendezvous, the over-riding message from portfolio managers is that there’s little point in taking on too much risk. The report features the views of prominent credit figures including Paul Horvath (Orchard), Himani Trivedi (Nuveen), Ronnie Jaber (Onex), Graham Rainbow (Alcentra) and Michelle Russell-Dowe (Schroders). The report looks at 14 segments of the market including CLOs, direct lending, leveraged loans, distressed debt and credit derivatives.  

Northleaf closes global private credit fund with $1.2 billion deployable capital
Northleaf Capital Partners has raised more than $900 million for its second private credit strategy, Northleaf Private Credit II 

Golub deal volume hits record $9 billion in Q2
Golub Capital says the second quarter was its most productive ever in terms of deal origination

Golub issues 2021's third-largest middle market CLO
Golub Capital Partners has issued the third-largest middle market CLO of 2021 to date

Antares hires experienced investor relations official from Barings
Antares Capital has hired a head of investor coverage in asset management