Most investors still behind target with sustainability and impact investing, survey finds
72% of global investors plan to increase their allocation targets to sustainability and impact investing. That is according to a limited partner survey by private markets firm HarbourVest Partners HarbourVest’s 2021 ESG, Sustainability, and Impact Investing Survey of LPs

LP round up: no Stoptober as investors allocate $5 billion to credit
US institutional investors allocated $5 billion to credit funds in October, with Oak Hill and Pimco among the biggest mandates    

Alcentra appoints liquid credit PM as head of responsible investing
Alcentra has built out a dedicated responsible investing team and has appointed its liquid credit portfolio manager to the newly created role of head of responsible investing

Brookfield hires industry veteran as public securities CIO
Brookfield Asset Management has hired a long-serving credit and equity market professional as chief investment officer for its public securities group

New York pension favours credit as it pumps $1.1 billion into tech, loans and distressed
New York State Common Retirement Fund has splurged over $1 billion in credit, topping allocations it made in equities and real estate

UK pension readies £1.3 billion listed alternatives fund
The fund will provide liquid access to infrastructure, specialist real estate, private equity and alternative credit

Certior holds first close on direct lending fund of funds
Certior Capital, the Helsinki-based private credit and alternative investment manager, has held a first close of a European direct lending fund of funds backed by Finnish, Benelux and Spanish institutions

Schroders holds second close on private credit fund of funds "driven by UK pension demand"
Schroders says a growing demand from UK pension funds for diversified private credit exposure has helped the firm hold an £85 million second close on its private credit fund of funds, Schroders Capital’s Multi Private Credit Fund

Ex-Permira Credit CIO lands at Swiss-based asset manager
LGT Capital Partners has hired Permira Debt Managers founding partner and former chief investment officer as head of credit solutions 

Credit Rendezvous: Credit spins full circle
The third quarter was massive in terms of volumes with CLOs, high yield, leverage loans and private equity registering record issuance. But credit spreads were up and down as inflation fears, crackdowns in China and rising coronavirus cases became catalysts for risk-off sentiment in July and September

Five Arrows hits 40% deployment on new €1.4 billion direct lending fund
Rothschild has held a €1.4 billion final close of its third European direct lending fund, Five Arrows Debt Partners III

Francisco Partners keeps 100% investor retention for second $2.2 billion credit fund
The firm’s second technology-focused opportunistic credit fund hit its $2.2 billion hard cap - and the firm says all investors in its first fund invested in the follow-up 

Apollo poaches private debt secondaries head from Tikehau
Apollo Global Management has poached Tikehau's private debt secondaries head, five months after launching a $1 billion platform in May

KKR announces new co-CEOs as Kravis and Roberts step down
KKR has announced the appointment of its second ever pair of co-chief executive officers, effective immediately, replacing co-founders Henry Kravis and George Roberts

Brevan Howard buys stake in structured credit fund manager led by former employee
1543 Capital and Brevan Howard have strengthened their ties with market sources indicating that Brevan Howard has acquired a minority equity stake in the manager

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

Credit Fundraising: September breaks 2021 record and poses question - is it sustainable?
The third quarter ended with $36.5 billion being raised in credit last month, doubling July and August figures. Several of the new funds have embedded Sustainable Finance Disclosure Regulation or ESG criteria at the heart of their investment thesis   

HPS closes $15.4 billion direct lending fund as deployment hits 60%
HPS Investment Partners has closed its fifth direct lending fund with $11.7 billion of investor commitments. Creditflux understands this is nearly double its $6 billion original hard-cap

Allianz holds €500 million first close on private credit fund of fund
The vehicle, which has a €1.5 billion target, invests jointly with Allianz

BNP Paribas buys majority stake in Dutch mortgage lender
BNP Paribas Asset Management says it is acquiring a majority stake in Dynamic Credit Group, a mortgage lender based in Amsterdam.

Amundi focuses on ESG-linked margin ratchets in €1 billion private debt fund
Amundi has become the latest manager to place a focus on ESG-linked margin ratchets on its fourth private debt fund, which has a €1 billion target 

Alcentra's head of European direct lending set to leave
Alcentra’s head of European direct lending is set to part ways with the firm at the end of September

Cheyne puts focus on ESG-linked loans for new €1 billion strategic credit fund
The London-based manager held a €1 billion final close on its second strategic credit fund in the series, Cheyne European Strategic Value Credit Fund II, which it says took less than six months following its first close

HIG closes €2 billion 'inaugural' European mid market fund
HIG Capital has held a €2 billion final close on what it says is its first European middle market fund

DunPort reaches €255 million first close for UK and Ireland direct lending fund
Ireland Strategic Investment Fund is among the investors backing the UK and Ireland-focused lower mid market direct lending fund