Generali Investments backs new asset-based finance strategy
Generali-affiliated Aperture Investors also hired a new global head of asset-based finance

OrbiMed raises USD 1.86bn for healthcare, royalty financing
The firm will target growing healthcare companies and provide non-dilutive credit options

Ares diversifies away from institutional, commingled private funds
During the second quarter, 55% of capital came from the institutional channel and just 30% of this was for its traditional funds

PGIM closes sophomore senior debt fund with USD 4.2bn
The commingled, private fund will be used to lend to middle-market companies across North America, Europe and Australia

US private credit firm Brinley secures USD 4bn commitment from US insurer; USD 1bn to fund inaugural CLO
The CLO will be the first in a planned series of rolling vintages, and looks to meet the specific needs of the insurance sector 

NYS Common Retirement Fund to invest USD 100m in Pearl Diver's distressed CLO fund
Public Pensions, Private Pursuits: New York State, Ohio pensions reveal recent private credit investments 

KKR raises USD 6.5bn, doubling the size of prior asset-backed finance fund
The sophomore fund in the series will invest in private credit investments backed by large, diversified pools of financial and hard assets

Capital Four raises around USD 120m for first global captive CLO equity fund
EXCLUSIVE: The firm has held a first close for its latest CLO equity fund, which will fund the firm’s future CLOs in both the US and Europe

HarbourVest launches dedicated private credit secondaries strategy
This builds on the alternative asset manager’s existing secondaries strategy and private credit strategy

Third Point’s private credit fund for insurers secures USD 400m
The firm’s first dedicated private credit fund for insurance clients held a first close

17Capital raises USD 5.5bn for NAV lending to private funds
The alternative credit firm claims its 17Capital Strategic Lending Fund 6 is the largest NAV lending fund seen in the market to date

Swedish CLO investor YMER prepares equity-tilted fund launch for Q3
The investor is targeting EUR 400m to EUR 500m and expanding to a more global investor base

Partners Group raises more than EUR 1bn for European direct lending
The senior direct lending strategy raised capital across a traditional closed-end fund and customized mandates

Fidelity doubles fundraise for sophomore opportunistic credit fund
The fund also revamped its name from Fidelity Distressed Opportunities Fund I

Blue Owl raises USD 850m from wealth channel for asset-backed debt fund
Following the close of this private offering, the alternative credit manager will be able to offer this fund to a broader investor base in a typical interval fund format  

Pantheon closes oversubscribed private credit secondaries fund
The secondaries specialist raised USD 2.2bn for its Pantheon Credit Opportunities III fund and related vehicles

Connecticut Retirement Plans and Trust Funds plans to commit additional USD 300m to Crescent Capital
Connecticut, Maine among pensions with recent expansions in private credit; Maine, Texas, Los Angeles pensions also disclose recent private credit investments

Monroe hires ex-Nuveen senior MD for head of capital formation
The new hire will lead Monroe’s fundraising strategy in the Americas

Seven managers make up 90% of private credit fundraising – Morningstar
Over the last five years, Apollo alone accounted for 29% of all capital raised for private credit

Investcorp passes halfway mark on second GP stakes fund
EXCLUSIVE: USD 600m raised to date against USD 1bn target of a strategy that was launched in 2019 and focuses on mid-market

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

Virginia, New Mexico among pension systems making new private credit commitments
Virginia Retirement System allocates USD 500m under credit strategies portfolio, while New Mexico State Investment Council allocates USD 250m to Fortress Investment Group and Indiana Public Retirement System commits USD 200m to HPS

Kartesia completes EUR 1.3bn fund close; almost half raised from new investors
KCO VI also saw “significant growth” in commitments from private wealth investors, which accounted for more than 20% of the fund’s total capital

FS Investments readies opportunistic credit fund, targets USD 750m
EXCLUSIVE: The vehicle, which will be the second opportunistic fund from FS, is set to launch in the third quarter of this year

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