Funds round-up: its still all about private credit
Our summary of all the news about credit funds in the last seven days as private credit again dominated fundraising 

European direct lender launches third fund
European asset manager Bridgepoint has closed its third direct lending fund, BDL III, with investable capital of over €3.4 billion according to a company announcement. 

Asset management firm creates new credit platform
Insurance and asset management firm Nassau launches new credit platform with more than $8 billion in assets under management. 

Asset-heavy companies look again at whole business securitisation
Whole business securitisations (WBS), which improve bondholder protections by ringfencing some parts of a business into an SPV, were popular before the financial crisis, but existing transactions in the UK have started to tap the markets for fresh funds. 

Serone Capital hires PM for European Special Situations Fund
Serone Capital Management has hired new blood in its European special situations division as existing PM Ralph Herrgott moves on

Berenberg closes its fourth debt fund in the renewable energy space
Berenberg is continuing to raise money in the renewable energy debt sector, with the German bank working alongside BayernInvest Luxembourg to close its fourth debt fund in the space.

ICG hires new global head of credit
Asset management firm ICG has hired ScION Tech Growth Chief Executive Officer Mathew Cestar as the firm's global head of credit

HSBC expects dealflow uptick and higher returns with second direct lending vintage
With the first vintage of its direct lending strategy almost fully deployed, HSBC Asset Management is bullish on dealflow and potential returns for its second vintage

Carlyle names future CFO
Carlyle has named John Redett its new chief financial officer and head of corporate strategy, the company has said.

Credit funds at a glance
Fund raising and people moves

Credit hedge funds
Credit hedge fund returns

Permira raises €4.2 billion for direct lending fund
Permira Credit has completed the latest round of fundraising for its fifth direct lending fund, Permira Credit Solutions Fund V

Morgan Stanley snags Credit Suisse structuring veteran
Morgan Stanley has hired a structured credit veteran to run its corporate credit financing business in EMEA

HSBC AM launches new vintage for direct lending strategy
HSBC Asset Management (HSBC AM) has announced the launch of the second vintage of its senior UK direct lending strategy. 

BlackRock buys European direct lender
BlackRock has announced that it will acquire full control of Kreos Capital, a European direct lender specializing in the technology and healthcare sectors.

HPS announces close for second core senior lending fund
HPS Investment Partners has closed its second Core Senior Lending Fund known as CSL II with around $10 billion of capital to invest

French direct lender launches new real estate credit fund
Tikehau Capital has teamed up with real-estate specialist Altarea to launch a new real estate credit fund

Pemberton hires head of sustainable investing
Pemberton has hired a managing director and head of sustainable investing

Pantheon hits $590 million close on second credit opportunities fund
The fundraise means Pantheon has raised $3 billion for its private credit secondaries strategy since its dedicated launch in 2018

LP round up: HPS wins $550m mandate as Ares launches third US direct lending fund
US institutional investors allocated nearly $3 billion to credit funds in April. The news comes amid a BlackRock survey in the month which showed significant investor interest in private credit

Blackstone Credit hires Euro capital markets head in newly created role
An experienced official from Morgan Stanley has landed at Blackstone Credit to oversee capital markets origination in Europe across liquid and private strategies

TPG in talks to buy Angelo Gordon: Bloomberg
The deal marks the private equity firm’s first foray into credit since parting ways with its credit arm Sixth Street in 2020

Credit hedge fund returns (May 2023)
Credit hedge fund returns

Credit funds at a glance (May 2023)
A round-up of people moves and fund raising

March madness sees most funds give up gains made in Q1
After a positive start to the year, credit funds ended the quarter with a step backwards; just under 30% of those listed reached positive returns for the month.