Oaktree Closes on USD 16bn for distressed debt strategy
Oaktree Opportunities Fund XII just edges out its predecessor fund, which closed in 2021 with USD 15.9bn in commitments  

Credit hedge funds - December 2024
Credit hedge fund performance

Fund performance - December 2024
CLO funds cap off strong 2024 with yet another good month

Carlyle raises over USD 7bn for credit opps fund
Carlyle today announced the final close of its third credit opportunities fund at USD 7.1bn in investable capital, marking the global investment firm’s largest credit fundraise to date

Dave Breazzano, Head of Polen Capital Credit Team, on finding niche opportunities in private credit
Dave Breazzano shares his insights on the evolution of credit markets, the rise of private credit, and the importance of opportunistic investing

Restaurant failures push up consumer services bankruptcies
The consumer services sector has seen a significant uptick in chapter 11 bankruptcies in recent months, driven largely by filings from restaurant and bar companies

Polus raises capital from Abu Dhabi Investment Authority for stressed credit
Polus Capital Management secures commitment from Abu Dhabi Investment Authority that takes the firm's special-situtation strategy to USD 5bn

Investors pursue wide variety of ‘snooze drag’ loan amendment language
Investors were once outraged by what the European leveraged loan market dubbed ‘snooze drag’ clauses — technical language in CLO documentation that regulates whether managers can hold loans after terms are amended. Some even vowed to get rid of it.

Credit Outlook survey signals rising defaults among small borrowers
Respondents to the latest Credit Outlook survey from the International Association of Credit Portfolio Managers are forecasting rising defaults over coming months

Fund performance
Spire, Prytania and Serone funds enter top 10 dominated by CLOs; Leading fund: Alegra ABS 2

Funds roundup: June 2024
Private credit funds keep getting larger — some reaching billion-dollar status — while demand for niche solutions, such as interval funds and special situations, continues to escalate

Cheyne Capital hires head of origination
Cheyne Capital Management has hired a new managing director, head of origination and trading, for the firm's strategic value credit unit

European credit specialist Sona raises USD 800m, exceeds expectations
European credit specialist Sona Asset Management held a final close of its Capital Solutions II fund

MidOcean Partners closes USD 765m opportunistic credit fund
MidOcean's latest direct lending strategy focuses on lending to mid-sized stressed, distressed and dislocated performing businesses.

SFERS commits another USD 75m to private credit
The San Francisco City & County Employees' Retirement System's latest commitment to private credit comes in the form of a USD 75m allocation

Indian manager raises nearly INR 25.75bn for credit opportunities fund
A Mumbai-based manager held a final close on its new special sits fund with INR 25.75bn raised

Florida-based credit specialist raises USD 130m for opportunistic credit fund
A new opportunistic credit and asset-based finance fund will back companies in the media, tech, telecommunications, intellectual property and specialty finance sectors

Funds round up: May 2024
The demand for SRT strategies and special situations funds are on the uptick, as is the demand for managers and funds outside of North America. 

Paul Hastings taps nine attorneys from King & Spalding team
Paul Hastings has upped the ante on its expansion plans in the world of private credit and restructuring by hiring nine seasoned attorneys from King & Spalding

European CLOs are sticking with Altice, research finds
Altice’s debt has been one of the biggest headaches for the CLO market in Europe this year but most managers have refrained from selling the debt according to a recent research report

Sound Point readies third special sits fund
Sound Point Capital Management plans to launch its third special situations private credit fund during the fourth quarter of this year

Higher interest rates have caused more private credit downgrades, new report says
The lagging impact of higher interest rates is resulting in a sizeable uptick in private credit downgrades, according to a new report from KBRA

Bain Capital hires North American head of special situations from Brookfield
Boston-headquartered Bain Capital has hired a partner and head of special situations in North America, as well as head of corporate special situations in Europe

Avenue Capital raises billion dollar European special situations fund
New York-headquartered Avenue Capital Group held the final close of a new European special situations fund with more than USD 1bn in commitments

Benefit Street closes USD 850m special situations fund
Benefit Street Partners held the final close of an upper middle market focused special situations fund with roughly USD 850m