Credit fundraising: Audax scores big in lighter month
Fundraising markedly dropped in May, but credit funds still amassed $12.8 billion and 10 credit funds reached final closes across a variety of different strategies

Direct lending newcomers reveal doubts over losses
Large direct lenders are quick to point out that experience and restructuring experience counts, particularly as we enter a default phase. What’s surprising is that, when it comes to capital markets investors, those new to direct lending doubt their own ability to manage losses. 

Fund performance: CLO funds outperform as two hit over 100% 12-months return
CLO funds swatted away the competition in April on their way to dominating our top 10 credit hedge fund return table after an upbeat month

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

HarbourVest closes $833 million credit opportunities fund
HarbourVest Credit Opportunities Fund II will target a 13-16% net internal rate of return with a portfolio of around 70% credit and 30% equity

Carlyle hires head of credit investor relations in New York
Carlyle Group has hired an ex-Pretium official to lead investor relations for its credit platform

CPPIB reveals $600 million in credit investments across France, India and US
Canada Pension Plan Investment Board has revealed $600 million in credit allocations to three managers

PE firm HG targets up to $1 billion for credit fund to invest in its portfolio companies
Documents show HG's Titan 1 will allow investors to capture the returns that have historically gone to third-party credit investors 

Canadian pension Imco allocates $500 million to Ares
Investment Management Corporation of Ontario has revealed a $500 million allocation to a large credit manager that includes $400 million to a fund-of-one

Schroders and Oaktree launch global credit ucits fund
Schroders has partnered with Oaktree Capital Management to launch a global multi-strategy credit fund, Schroder GAIA Oaktree Credit fund, which will sit within Schroders' alternatives ucits platform

BlackRock holds $940 million first close on global private debt fund designed for UK pensions
BlackRock has collected $940 million on a first close of its new private debt fund BlackRock Diversified Private Debt Fund 

LP round up: $3.2 billion flows to 21 managers as private credit illiquidity premium holds firm
Investors allocated at least $3.2 billion to credit managers in April - and direct lending funds were in favour with Churchill and Ares being awarded two mandates

Fund performance: Lightning strikes twice as range of credit funds deliver
What seemed like a chance occurrence in February has struck again in March, as seven categories make our top 10 best performing hedge funds

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

Credit fundraising: three massive European direct lending funds notch up €17.6 bn
Fundraising figures continued upwards in April as just over $24 billion was raised for credit funds, alongside $3.2 worth of allocations to credit managers. Nine funds held final closes including the largest European direct lending fund raised to date

Carlyle and Aflac officials lead new ACC committee with ESG template outlined as priority
The Alternative Credit Council has launched an ‘investor manager committee’, chaired by Carlyle Group’s Erica Frontiero and Elena Boeva from Aflac Global Investments, that has ESG in private credit as one of its first orders of business

Standard Life Aberdeen 2 rbrnd 2 Abrdn
Standard Life Aberdeen has announced that it is changing its name to Abrdn (pronounced Aberdeen) 

Head of US sales parts ways with Arcmont
Arcmont Asset Management’s head of US sales is said to have parted ways with the firm

Toronto-based Whitehorse Liquidity hits $4 billion hard cap on liquidity solutions fund
Whitehorse Liquidity Partners Fund IV provides liquidity solutions to private equity-style fund investors and managers

Credit Rendezvous: ready and waiting
In Creditflux's quarterly review of credit, portfolio managers tell us that Inflation is likely to nudge higher but they are optimistic because dispersion will pick up and windows of volatility will emerge, rather than elongated phases of stress 

Credit fundraising: Goldman Sachs direct lending fund takes March figures to $23 bn
Credit funds sprung forward in March as $23 billion was raised alongside $2.6 billion worth of allocations to credit managers. 

Credit funds at a glance (April 2021)
A round-up of fundraising and people moves

Ucits at a glance: Advent and Algebris lead the pack again
Ucits funds saw the brighter side of February, as 80% of funds achieved a positive return

LP round-up: $2.6 billion flows into 26 credit managers
A stuck ship in the Suez Canal may have prevented others from getting through one of the world's busiest waterways in March, but allocations to credit funds were much more free flowing as investors poured over $2.6 billion into the hands of credit managers

DE Shaw amasses $1 billion for stressed and distressed assets
The fund will invest in stressed and distressed assets, financings, and special situations opportunities