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

Carlyle senior credit investor joins fintech firm as CFO
An experienced credit investment professional at the Carlyle Group has moved to become chief financial officer at fintech company NoviCap

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

Fidelity launches US direct lending business and hires team head from PNC
Fidelity Investments is launching a direct lending platform and has hired a senior PNC official to lead the new business from Chicago

Four managers win lucrative $700 million credit mandate
A $39 billion pension has selected four managers for an opportunistic credit mandate and identified a further four ‘bench’ managers 

Permira targets up to €5 billion with fifth direct lending fund
The launch of Permira Credit Solutions Fund V comes 12 months after the firm held a final close on its predecessor

Ares pledges charitable donations based on success of new $3.7 billion fund
Ares Management Corporation has held a final close on Ares Pathfinder Fund at its $3.7 billion hard cap - and portfolio managers will commit at least 10% of the fund’s caried interest profits to global health and education charities

Cerberus racks up $4.4 billion for US direct lending strategy
Cerberus Capital Management has held a final close of its latest US mid-market direct lending fund, Cerberus Levered Loan Opportunities Fund IV 

HIG hires two from Tikehau for French direct lending
HIG Capital has bolstered its French direct lending team by appointing two principals in the firm's Paris office

Fund performance: CLO funds pick up where they left off
New year, same funds leading the way with CLO strategies the top performers in January

Ucits at a glance: CIFC nears positive 12-month returns
Ucits funds have started 2021 on a quiet note as 72% of funds achieved a positive return

It's all relative: CLOs march tighter as macro traders open positive CDS skews
Credit default swaps are back near where they started the year after giving up their early-February gains amid a rise in government bonds. CDS curves steepened over the past month and macro hedging has left indices trading with positive skews. But CLOs paint a calmer picture in which spreads have inched tighter  

Credit fundraising: ESG centre stage as capital pours into new strategies
Sustainability was the watchword for fundraising in February, amid a flurry of fund launches as well as first closes for impact funds and sustainable bond funds

Atalaya hits $1 billion hard cap on private credit fund with 10-13% return target
Atalaya Capital Management has hit its $1 billion hard cap on its private credit speciality finance fund, Asset Income Fund V

First Eagle targets $1 billion for direct lending
First Eagle is targeting a $1 billion fundraise for First Eagle Direct Lending Fund V

HIG bolsters European direct lending presence with senior hire in Madrid
HIG Whitehorse has appointed a managing director in the firm's Madrid office

JP Morgan AM seeks direct lending head for 'key strategic initiative'
JP Morgan Asset Management is looking to build out direct lending capabilities within its alternatives business

Golub follows Sixth Street by suing Dyal over Owl Rock merger
Dyal Capital’s merger with Owl Rock faces growing opposition with Golub Capital filing a lawsuit

AlbaCore adds distressed hire among raft of new arrivals
AlbaCore Capital Group has added four hires to its investment team in recent weeks, taking its total headcount to 46

Apollo holds $2.34 billion final close on latest credit dislocation fund
Apollo Global Management has held a $2.34 billion final close on its latest flagship dislocated credit fund, Apollo Accord Fund IV

Ares holds first close of junior direct lending fund as it eyes 'dozens more' $1 billion-plus funds
Ares outlined several credit fundraising initiatives in its fourth quarter earnings call - among which were a first close of its latest junior direct lending fund, upping the target for its credit special situations fund by over $1 billion, as well as new product launches including an evergreen alternative credit fund

‍Saudi Arabia's PIF becomes latest sovereign wealth fund to target direct lending
‍Saudi Arabia’s Public Investment Fund has become the latest sovereign wealth fund to enter the direct lending space, anchoring a Shariah compliant private credit fund managed by NBK Capital Partners

Search firm highlights lack of diversity across Euro credit
A report on diversity within the corporate credit industry has shed light on the imbalances that persist

Credit Rendezvous: heading for homes
Fund managers in structured credit, real assets and distressed are bullish on the prospects for residential housing in 2021. Elsewhere, niche royalty-based strategies are in favour and although a CLO repricing wave is expected, it may not be easy to execute resets. For more, read our 13-page quarterly report on credit.