1H23 European direct lender rankings
The volume of European direct lending facilities issued fell to just €8.5 billion in 2Q23. The same quarter last year was the largest on record at €51.3 billion, representing over an 80% drop year on year.

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. 

Illiquid assets are increasingly hot in the private markets according to Aeon survey
Illiquid assets may offer protection against macro uncertainty, according to findings from a new survey.

Private credit fundraising continues as two new funds launch
Private credit funds continue to see growth with two new US funds launching this week.

L Catterton expands credit platform with new co-head of private credit
L Catterton's private credit platform is in expansion mode, announcing a new managing partner and co-head of private credit

Private credit is still the number one topic for investors, hears conference
Delegates at the Debtwire Private Credit Forum 2023 heard that private credit has become the favourite topic for institutional investors

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

Virginia pension discloses $800 million in credit allocations
Virginia Retirement System has disclosed $800 million in credit fund allocations made over the first quarter of this year

Fund performance: European CLO funds lead the way
February was a positive month for many funds, as only one quarter failed to reach the black. This builds off a stellar start to the year: 96% of funds reached a positive return in January

HPS raises $12 billion for fifth junior capital fund
HPS Investment Partners has closed its fifth junior capital solutions fund, HPS Strategic Investment Partners V, at $12 billion. With leverage, the strategy has $17 billion investable capital

Fidelity Investments raises over $100 million for BDC
Fidelity Investments says that its business development company, Fidelity Private Credit BDC, is up and running with “in excess of $100 million”.

Ares and Mubadala establish $1 billion global credit secondaries JV
The pair aim to capitalise on the 'anticipated growth and substantial demand’ from managers and investors for customised liquidity solutions

Tikehau preps sixth European direct lending fund launch
Tikehau Capital is preparing to start fundraising for its sixth European direct lending fund, Tikehau Direct Lending VI 

Angelo Gordon wraps up fundraising for $1.3 billion credit dislocation fund
AG CSF2A (Annex) Dislocation Fund is an extension of the AG Credit Solutions Fund II, which held a $3.1 billion final close in April last year.

Oaktree targets $10 billion for LBO financing strategy
The launch of the firm's large-cap sponsor-backed private credit strategy follows banks retreating from the LBO space and a more compelling risk-adjusted return than other sectors in the market

Proskaeur hires CFO specialist from SocGen
Proskauer has announced the appointment of Matthew Kerfoot as partner in its finance group in New York

Crescent amasses $8 billion investable capital for eighth credit solutions fund
The fund had an original $4 billion target, according to Debtwire Funds Data

Fund performance: Credit funds end difficult 2022 on a positive note
In December 66% of credit funds reached a positive return, following an even better November where 81% of all funds pushed into the black

Alpha Dhabi taps Apollo Mubadala partnership with $2.5 billion private credit JV
The group will leverage Mubadala's relationship with Apollo Global Management to access "high quality private credit investment opportunities" 

LP round up: 27 managers find the top corner with investor wins
Credit fund managers like to take it one fund at a time and give it 110% for their 90-minute investor fund pitches - and it's working as $3.8 billion was allocated during November and early December. The gaffer would be proud. 

Atalaya hires managing director in specialty finance practice
Atalaya Capital Management has hired Bharath Subramanian as managing director in its specialty finance practice in New York

Ardian closes €5 billion European direct lending fund
Ardian has closed its fifth mid-market European direct lending strategy with €5 billion capital commitments, exceeding its €4 billion target

LP round up: two managers terminated as 20 win $2.5 billion
US institutional investors allocated over $2.5 billion to 20 credit managers in October, according to documents seen by Creditflux. Two credit fund managers however were terminated in the month

Fund performance: Wake us up when September ends
After a resurgent August, credit markets hit a rough patch in September, with every Creditflux index posting negative returns, and only 12.9% of funds in our listings showing a positive return.

Churchill raises $12 billion for senior lending strategy
The total includes closes of Churchill's levered, unlevered funds and separately managed accounts