Polus holds EUR 425m initial close for third CLO equity fund
It marks one of Europe’s largest CLO equity capital raises to date

Credit funds at a glance – April 2025
Our roundup of top performers, fundraising and moves in credit

Sagard launches new equity fund to back future Sagard-HalseyPoint CLO issuance
The fund from the Canadian alternative asset manager is targeting a raise of USD 250m

Benefit Street Partners raises USD 500m for captive US CLO equity fund
BSP will use the capital to fund as many as 20 US CLOs during the next four years

New York, Texas among pension systems taking new private credit actions
New York State Common Retirement Fund commits over USD 700m to ICG strategies, while Texas, DC, Los Angeles pension funds also disclose recent private credit investments

Arena raises more than USD 1bn for multi-strategy credit
The firm held a final close for its latest flagship fund

Connecticut, San Francisco among funds making new private credit moves – Public Pensions, Private Pursuits
EXCLUSIVE: Connecticut plans commitment to Anchorage Capital distressed credit funds; San Francisco, North Dakota, and Dallas funds disclose recent commitments

JPMorgan’s asset management arm seeks to raise direct lending fund
EXCLUSIVE: The asset management unit is raising capital from institutional investors for direct lending as the bank steps up lending from its balance sheet.

Apollo raises USD 8.5bn for opportunistic credit
The fundraise includes commitments for Accord+ Fund II as well as for separately managed accounts and other related vehicles

DE Shaw closes USD 1.3bn private credit fund to back risk transfers, capital relief
The sophomore Diopter II fund will fund investments related to capital relief, risk transfer, risk sharing and other transactions by financial institutions

Apera secures EUR 2.9bn for European lower middle market lending
The fundraise for Apera Private Debt Fund III is double the size of its predecessor vehicle

Sculptor raises USD 900m for maiden tactical private credit fund
The “all-weather” fund originally launched in 2021, according to a filing

Wyoming, Texas among state systems making new private credit commitments – Public Pensions, Private Pursuits
Wyoming invests USD 300m in TPG AG and Kennedy Lewis private credit funds, and Texas pension system invests USD 250m in Penfund, SKY Leasing direct lending funds

Crayhill raises USD 1.31bn for opportunistic asset-based finance
The firm has already deployed 75% of its latest fund

Carlyle’s AlpInvest raises USD 3.2bn in financing for private funds, GPs
The firm’s new AlpInvest Strategic Portfolio Finance Fund II will provide financing to private equity funds, GPs and LPs as well as private credit secondaries investments

Pantheon raises USD 5.2bn for senior debt secondaries
The latest fund, Pantheon Senior Debt III, was oversubscribed as interest from the insurance channel grows

Massachusetts, midwest pensions disclose recent private credit moves – Public Pensions, Private Pursuits
ANALYSIS: Massachusetts, Michigan pensions reveal private credit investments totaling USD 225m, Illinois Municipal Retirement Fund commits USD 50m to Pemberton   

BC Partners secures USD 1.4bn for flexible, opportunistic credit
The private credit arm of the firm held a final close for its Special Opportunities Fund III

PAG raises USD 1.25bn for significant risk transfers
The Hong Kong-based alternative asset manager is expecting the SRT market to grow at a 30% to 40% rate annually over the next few years

AlbaCore launches debut senior direct lending fund with backing from ADIA, MUFG
EXCLUSIVE: The new fund, which already had a first close of USD 1.8bn, will fundraise throughout this year with final close planned for 2026

Marathon ditches distressed strategy to raise USD 2.7bn for opportunistic credit
EXCLUSIVE: The asset manager originally launched the fund with a distressed debt strategy but has since switched the focus to making opportunistic private credit and equity investments  

ICG raises EUR 3bn for junior private debt, equity
The global alternative asset manager will invest in middle market companies across Western Europe

Banner Ridge holds first close for special situations fund that’s targeting 750m
EXCLUSIVE: The firm is fundraising for its third fund in the series that is set to have a final close early next year

Private credit managers consider smaller fund targets
ANALYSIS: Some private credit managers are considering a smaller fundraise, bucking the convention of always aiming for bigger funds 

Ares raises biggest ever European private credit fund