Blackstone builds on multi-asset approach with fifth fund
The new vehicle will invest directly into Blackstone deals across its alternatives platform

Crestline holds $600 million final close for PE-focused financing fund
The new fund will provide financing to private equity funds post their investment period, allowing them to provide follow-on growth capital to portfolio companies or additional liquidity 

ICG hits €4 billion target for European private debt fund
Intermediate Capital Group has hit its €4 billion fundraising target for its seventh European private debt fund, according to the firm’s semi-annual results

Managers see growth in distressed and direct lending, but structured credit splits opinion
The private credit industry remains on track to grow to $1 trillion assets under management by 2020, according to joint research published by the Alterative Credit Council and law firm Dechert with allocations to distressed and mid-market deals tipped to rise. But structured credit has divided US and European managers

First European SME CLO 2.0 edges closer after warehouse tweaks
Be-Spoke Capital’s European SME CLO is nearing the finishing line, with sources indicating NatWest Markets aims to price the deal, Alhambra SME Funding 2018-1, in early December. The development comes after the CLO exceeded the warehouse’s 12-month ramp-up period

MV Credit raises €803 million for credit fund following Natixis acquisition
MV Credit, formerly known as Mezzvest, has held a final close for its fourth private credit fund with €803 million capital commitments

BNP Paribas' fund of fund platform holds first close on European mid-market strategy
BNP Paribas Asset Management's fund of fund business is targeting €250 million for a strategy which will allocate to "top tier" European mid market debt managers 

Blackstone grows credit assets by 31% over year
The firm achieved strong fundraising in credit, taking credit-related assets under managment to $130.6 billion in the third quarter, a 31% increase year-on-year 

Full steam ahead: Italian railway workers' pension fund seeks private debt exposure
Eurofer, the €1 billion Italian pension fund, for railway workers, is seeking debt managers, with a focus on infrastructure, real estate or unlisted real estate companies.

39% of private debt investors are underweight, but they're looking for opportunities
485 Investors have come together to reveal their thoughts about allocation, in a survey conducted by London-based investment consultant bfinance

Harbert European Growth Fund flourishes with €215 million final close
London-based Harbert Management Corporation has held a final close for its second European Growth Capital Fund with €215 million in capital commitments

Shetland Islands pension looks to terminate bonds and introduce direct lending
A UK pension fund is looking to terminate its bond mandate and introduce a 12.5% direct lending and 12.5% alternative funds asset allocation, according to board documentation seen by Creditflux

Credit drives strong returns for five of the largest asset managers in the business
Carlyle is close to hitting its ambitious fundraising target; direct lending has been kind to Ares; and Och-Ziff has decided to shed its US CLO risk retention stakes after exiting its financing agreements

Star names join Barclays as it pushes into CLOs

Italian pension fund seeks direct lending managers
Previndai, the €11bn pension fund for managers of industrial companies, has issued a notice seeking global and European direct lending managers

Oaktree raises new special situations fund while CIO warns of direct lending risk
Oaktree Capital Management has released its second quarter 2018 results in which the Los Angeles-based firm reported $2.4 billion of new capital commitments in the quarter

Ares launches "largest ever" European direct lending fund with up to €10 billion to invest
Ares Management has held the final close on what it claims to be the largest European direct lending fund raise ever

Investors eye alternative credit ahead of expected interest rate increase – report
Investments in alternative credit are set to rise among institutional investors over the next 12 months, according to an alternative credit report published by NN Investments Partners

Capital Dynamics registers debut direct lending fund
Zug-based Capital Dynamics is looking to launch Capital Dynamics US Middle Market Credit Fund after establishing a private credit business over the last 12 months

European institutional private debt appetite shows no signs of waning, finds Aviva survey
Institutional investors across Europe are set to increase their exposure to alternative income assets, according to a report by Aviva Investors.

IW launches first UK SME senior debt fund
London-headquartered IW Capital has launched its first  £4.5 million senior secured debt fund, which will invest in UK SMEs 

Patrimonium set to launch two European direct lending funds
Direct lender Patrimonium Asset Management is launching two new direct lending funds – with both funds anticipated to hold first closes at around €150 million in the coming week, according to market sources

Ares emerges as favourite to take over troubled direct lending fund
Following Oaktree’s wind-down request, the board of the Ranger Direct Lending Fund has chosen Ares as replacement manager - moves which could see the fund change its focus from peer-to-peer loan investments to asset-backed loans

Direct lenders pile into "turbocharged" market as fundraising skyrockets: report
Growth in the direct lending market in the 12 months to 31 December was “turbocharged,” growing robustly in the fourth quarter 2017 in particular due to a consistently growing Eurozone economy, according to Deloitte

Pennsylvania pension fund to commit €150 million to direct lending
The Public School Employees’ Retirement Board has recommended a €150 million investment in Intermediate Capital Group's ICG Europe VII fund