Värde names deputy CEO and several promotions
The transitional appointments follow George Hicks, co-founder and co-CEO, saying in July last year he would move to an executive chair role by the end of 2021

Sovereign wealth funds empower direct lenders
Sovereign wealth funds are turning toward the booming private credit market, with three massive partnerships formed this year

Fund performance: A third of funds reach positive territory in 2020
August has been another successful month for the CLO category as seven of the top 10 funds invest primarily in CLOs

HPS closes mezzanine debt fund with $11 billion to deploy
New York-based manager HPS has held a final close on HPS Mezzanine Partners 2019

Barings inks partnership with Mubadala for European mid-market platform
Barings has teamed up with Abu Dhabi state fund Mubadala Investment Company to launch a new European middle market origination platform named Barings Mubadala Enterprise

US investors piled into structured credit and private lending in 2019, Gapstow finds
US institutional investors' allocations to 'alternative credit' increased 12% year-over-year in 2019, according to research by fund of funds manager Gapstow Capital Partners

Antares makes middle market CLO return with delayed-draw double Bs
Antares Capital has priced the third largest new CLO amid the coronavirus pandemic, after teaming with BNP Paribas on Friday to place its first primary market transaction of 2020

LP round up: private credit drive gains momentum as Calpers backs Pimco
Private credit continues to be viewed as an attractive investment strategy for institutional investors, with four global allocators outlining new buckets, or increases to the asset class

Antares collects $3 billion for direct lending fund
Antares Capital wrapped up fundraising for an inaugural senior loan fund on Monday

Lenders aren’t as adventurous, but they realise if they don’t act now, 2020 will be a lost year
 

Bankers, private equity firms and corporate lenders are all looking for new ways of doing business

Alcentra appoints DeSimone as CEO
Alcentra has appointed Johnathan DeSimone as chief executive officer following David Forbes-Nixon’s decision to step down and take an investment role at the firm

Ucits at a glance: Five funds lift YTD returns above 5%
Five funds have managed to pull their year to date figures above 5%; Loomis Sayles (7.50%), Algebris (5.82%), Pictet (5.53%), Amundi (5.36%) and Advent (5.11%)

Fund performance: Almost a third of credit funds reach positive YTD returns
July has been a successful month for many credit funds, despite the recovery peaking in May and June

First Eagle prices one-year mid market CLO
First Eagle has priced its latest CLO backed by middle market loans

Private credit manager wins mandate to invest in Australia and New Zealand
Revolution Asset Management has won a co-investment mandate from QIC, an asset manager owned by the Queensland Government, to invest in credit assets originated in Australia and New Zealand

Muzinich reaches €210 million first close for lower mid-market credit fund
Muzinich & Co has held a €210 million first close on a second lower middle market, pan-European private debt fund, Muzinich Pan-European II Private Debt Fund

Credit fundraising: distressed keeps in favour but CLO ETFs emerge
Five months into global lockdown and distressed debt funds are still proving popular, but several managers have found success pitching other types of credit strategies

LP round up: Connecticut eyes Fortress for private credit partnership
Investors placed $3.3 billion across 26 credit mandates over the past fortnight, according to documents seen by Creditflux 

Sixth Street nears $12 billion for flexible global credit fund
Sixth Street collected $8.5 billion for its fifth TSSP Adjacent Opportunities Partners fund, TAO 5.0, by the end of July, with the fund nearing its $12 billion hard cap

KKR targets sub-debt and ABS with latest private credit fund
KKR is preparing to launch its third mezzanine private credit fund, dubbed KKR Private Credit Opportunities III

Direct lenders brace for requests to ignore covid quarters
Direct lenders will need to think about using different tracking mechanisms to measure a portfolio company’s performance going forward, as key metrics have been affected by covid-induced volatility, say market participants

ICG plans €1 billion European special situations recovery fund
Intermediate Capital Group is targeting a €1 billion final close on its second multi-strategy special situations fund, which aims to exploit opportunities in the loan market arising from the coronavirus-induced pandemic

LP round up: pension creates private credit bucket as Florida eyes 'best distressed opportunity ever'
There was no slowdown in credit allocations last week, wrapping up what has been an extremely busy July. $1.4 billion has been allocated to credit, it has emerged over the last seven days, according to board documentation seen by Creditflux.

Goldman Sachs collects $6.4 billion for opportunistic credit fund
Goldman Sachs’s merchant banking division has collected $6.4 billion from more than 1,500 investors on its inaugural opportunistic credit fund, West Street Strategic Solutions I

LP round up: Oregon eyes $1.8 billion into structured credit
Institutional investors have earmarked over $6 billion to credit funds over the past two weeks