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

Funds round up: April 2024
Allocations to private credit and new fund launches continued to roll out in April, as our monthly round-up confirms

Golub raises USD 2bn for sixth credit opportunities fund
Golub Capital has held the final close of the sixth vintage of its credit opportunities fund, raising USD 2bn

New Mexico pension system approves USD 150m top-up to distressed debt fund
The New Mexico State Investment Council continued to pump money into credit alternatives on Tuesday, as the board approved its latest commitment

Ex-BlueMountain portfolio manager takes role at rival credit fund
An experienced distressed debt official has swapped one large credit manager for another in New York

Pension fund backs Apollo with $200 million for new European credit fund
Apollo Global Management is looking to raise around $3.5 billion for a new credit fund which will look to purchase non-core assets off the books of European banks

Bluebay analyst joins distressed debt manager in London
London-based distressed debt manager picks up former BlueBay analyst  

Experienced credit analyst leaves Bain's distressed team in London
Bain has been one of the most active asset managers in the distressed credit space in recent years, but sources say that it has suffered  a setback with an experienced credit analyst said to have left in recent weeks

Ellington builds up in distressed after hiring portfolio manager from hedge fund
Ellington Management is enhancing its distressed credit team with sources informing Creditflux that the Greenwich-based fund manager has recruited another portfolio manager

European credit hedge fund shuts down after bank slashes credit exposure
Market sources say that a European credit hedge fund manager backed by National Australia Bank has closed down

US endowment fund backs Coliseum for distressed debt play
Coliseum Capital Management has earned the support of a large endowment fund for its new distressed debt fund

Former Angelo Gordon CLO PM launches new distressed fund
A high profile credit portfolio manager has raised a fund for his newly-launched management company in New York