CIC collects €530 million for direct lending fund
CIC Private Debt has collected €530 million on its third senior debt fund, surpassing its original €450 million target size

Minnesota pension to invest $300 million in distressed and private credit funds
Minnesota State Board of Investments is set to invest $100 million in a mezzanine debt fund and $200 million in a distressed debt fund

Italian pension eyes private market investments with debt and equity mandate
Fondoposte has launched a request for proposals in which it outlines plans to invest in private debt and private equity  

Arizona pension to deploy up to $700 million a year in private credit
Arizona Public Safety Employee System is looking to deploy $600-700 million in private credit strategies per year in order to meet its target allocation, according to board documents seen by Creditflux.

Decalia adds ex-Morgan Stanley official to senior private credit role
Geneva-based Decalia Asset Management has appointed a lead portfolio manager for its private market funds

Beechbrook appoints chariman for Irish SME fund
The appointment is in conjunction with Beechbrook's first investment in the Irish SME fund, which held a first close in July 

Azimut hires ex-Dyal official as it aims to buy minority equity in asset managers
Azimut will initially focus on acquiring minority stakes in alternative asset managers with under $3 billion AUM – including private credit, private equity, infrastructure and real estate firms

Canadian pension awards €300 million to middle market real estate debt
Canada Pension Plan Investment Board (CPPIB) has awarded €300 million to a separately managed account focused on real estate across Spain and Portugal. The pension fund did not name who this partnership was with 

SME CLOs arrive in Europe as Be-Spoke prices Spanish loan securitisation
Middle market CLOs have arrived in Europe after Be-Spoke Capital priced the continent’s first post-crisis SME loan securitisation

Online lender launches German credit fund with EIF backing
A senior debt fund managed by Creditshelf has recieved a cornerstone investment from the European Investment Fund - where all loans will be originated via its online lending platform

Direct lenders' unitranche greed poses challenge to CLO sourcing
European direct lenders are increasingly expressing their preference to be the sole lender in large unitranche deals, whereas the opposite is true in the US, where direct lenders are more focused on syndicating their deals    

In private credit, we look to stay in senior structures with control

Eiffel seeks ESG loans as French lenders adopt LuxFlag label
Private debt managers are applying for the Luxembourg Finance Labelling Agency’s (LuxFlag) approval in ESG-centric strategies.

The ideal home for a loan

Managers dispel myth that lenders can’t influence ESG
There’s a growing belief among credit fund managers that they can influence borrowers to take on ESG-friendly practices, contrary to the widely-accepted notion that the business practices of companies are dictated by their private equity owners.

They said it: "Risky unmarked things are not not-risky. It will end in tears"

Direct lenders start to overcome bank dominance in Spain
Spain is becoming a popular destination for direct lenders — despite the competitive terms offered by local banks. Sources say that borrowers are starting to look beyond pricing to ease of execution and flexible documentation.

Fresh wave of investors to boost direct lenders
European direct lenders raised €18.3 billion across 13 funds in the first half of this year, according to the Creditflux direct lending database, but that could be just the tip of the iceberg.

Fund performance
A round-up of fund performance click here.

Tikehau builds private debt secondary platform with senior hire
Tikehau Capital has bolstered its private debt capabilities with the launch of a new secondaries platform

Proventus Capital closes fourth private debt fund at €1.8 billion
Fund IV has completed nine investments and is around 20% deployed

Private credit growth helps Hamilton Lane 13% growth in AUM
Alternative manager Hamilton Lane has reached $481 billion in assets under management and advice as of September, with credit funds supporting the organisation’s growth  

BlueBay private debt spin-off hires in credit opps following rebrand
BlueBay’s former private debt team has rebranded to Arcmont Asset Management, following the completion of its spinoff from BlueBay. And the independent entity is wasting no time in expanding its business by hiring two senior officials to oversee a new opportunistic credit strategy

Proskauer promotes eight to partner in credit
Law firm Proskauer has promoted 15 lawyers to partners in its London, New York and Boston offices – including eight who work in credit

Mayer Brown adds leveraged finance partner in Frankfurt
Mayer Brown has appointed Bernina Butt to its banking and finance practice as partner