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

Credit fundraising: Dubai manager gets in on the act as direct lending takes off
Shuaa launches credit fund in the Gulf as Ares, Contingency, HPS and Perceptive are among those to close billion-plus funds

Apollo appoints head of credit valuations from sell-side
Apollo has appointed a head of credit valuations, as its previous head of credit valuations has transitioned internally to cover private equity valuations

Ares holds €6.97 billion first close on European direct lending fund
Ares Management Group has collected $12 billion in gross credit commitments over the third quarter of the year, according to the firm’s earnings presentation, including $8.2 billion for the first closing of its fifth European direct lending fund

LP round up: EIF backs four debt funds while Carlyle wins $1 billion
Institutional investors have allocated just over $4 billion to 27 credit managers in October board meetings

Alcentra hires Mulshine as head of US distribution
Alcentra has hired a new head of US distribution from Lazard

Credit Rendezvous: sometimes you have to dive deep to find value
Some parts of the credit market are fraught with danger, but that does not mean portfolio managers are avoiding them entirely, according to the Credit Rendezvous, Creditflux's 10-page quarterly report eaturing comments from 15 credit experts

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

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

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

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

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