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 

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

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

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

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. 

Alcentra co-CIO for liquid credit set to leave this month
A high profile figure in the US CLO business is leaving Alcentra

UK pension seeks direct lending manager for £250 million commitment
Essex Pension Fund has issued a request for proposals to allocate up to £250 million to a direct lending fund

LP round-up: investors gift private debt and leveraged loan RFPs over holiday season
2020 ended on a strong note with four institutional investors increasing asset allocation to private debt or initiating private debt and leveraged loan searches. ArrowMark, Banner Ridge, BBAM, HIG Whitehorse, Monroe and Rialto were also awarded mandates

Fund performance: CLOs look to continue recovery with end of the year in sight
CLO funds claim the majority of positions in our top 10

LP round up: pensions plan private credit pacing as strategic credit takes on "midfield" role
US pensions have allocated $1.4 billion across 22 credit funds including those managed by Angelo Gordon, Ares and GoldenTree, according to recent board documents seen by Creditflux. Meanwhile a pension fund draws parallels between strategic credit and Jordan Henderson

Credit fundraising: November marks turning point as fund launches spike
November was always set to be an important month as the world awaited the US election outcome and the results of covid-19 vaccine trials. This did nothing to slow down fund managers as 14 funds launched, up from only four funds launching in September and five in October

Wingspire taps Garrison managing director for head of underwriting
Wingspire Capital has hired an ex-Garrison Investment Group official as managing director and national head of underwriting

LP round up: Monroe and Angelo Gordon beat 25 for direct lending mandate, as private credit plans brew
US public pension funds have disclosed $1.2 billion in commitments to credit focused strategies

Monroe sets $1.5 billion target for fourth lower mid-market direct lending fund
The Chicago-headquartered manager is targeting $1.5 billion for Monroe Capital Private Credit Fund IV. The vehicle held a $276.2 million first close last month

Calpers allocates $3.5 billion to Sixth Street and Goldman Sachs
Californian pension heavyweight Calpers is allocating a whopping $3.5 billion to private credit managers 

Värde closes $1.6 billion dislocation fund
Värde Dislocation Fund, has a flexible, global mandate to invest in mispriced, stressed and distressed credit, focusing on short- to medium-term credit opportunities

LP round up: $2.8 billion flows to credit as Apollo concedes fundraising may slow
Florida Retirement System Trust Fund made the largest commitments allocating $1.6 billion. Apollo meanwhile acknowledged a potential slowdown in fundraising as investors await results on an independent review into CEO Leon Black's relationship with Jeffrey Epstein