Apera readies third European private credit fund
The launch of the new fund comes 14 months after it closed its second private credit fund 

LP round up: Magnetar and Värde among winners as $3 billion flows to credit
Institutional investors allocated at least $3 billion to credit funds in August

Carlyle launches private credit JV to invest in Australia and New Zealand
Carlyle Group has teamed up with Australian-based credit firm Amicaa to launch a joint venture investing in opportunistic private credit in Australia and New Zealand

Swedish direct lender raises €684 million for sustainability-linked deals
P Capital Partners has completed the final close of a European direct lending fund that supports borrowers’ transition to sustainable business models

Bardin Hill holds first close for second opportunistic credit fund
Bardin Hill Investment Partners has held a first close for its second opporunistic credit fund, with around $300 million in capital commitments

Global captive CLO equity fund closes with $230 million
The fund will invest in majority equity positions of the manager's US and European CLOs

Fast-growing manager launches $406 million captive CLO equity fund
The fast-growing credit boutique has become the latest manager to launch a captive CLO equity fund, giving the firm the ability to control the pace of its CLO issuance

LP round up: private credit takes big slice of inflows as 10% portfolio share projected for 2026
Institutional investors revealed nearly $4 billion allocations to credit funds in July, with recipients including Angelo Gordon, Apollo, Ares, BlackRock, Brookfield, CarVal, Comvest, Deerpath, KKR, Schroders and Sixth Street

Apollo launches private credit JV with Belstar in Korea
Apollo says it has been “exploring the market opportunity in Korea with a heightened degree of interest for several years”

Schroders beats five to win structured credit mandate as pension terminates Franklin Templeton
Schroders has beat out five other credit managers to win up to $108 million for a securitised credit mandate from a US pension. It comes after investment consultant RVK recommended to terminate the pension’s investment in Franklin Templeton due to “underwhelming performance and decreasing assets”

HPS launches sixth direct lending fund
The firm's previous fund in the series closed in September with over $15 billion of investable capital

Cheyne looks to uncover value in sponsorless loans
Cheyne Capital Management is eyeing sponsorless direct lending opportunities for a fund launch later this year

Credit funds at a glance (August 2022)
A round up of fundraising and people moves in credit
   

CFOs stage comeback as fundraising tool for managers
Collateralised fund obligations are coming back into fashion, with Churchill Asset Management the latest firm to launch such an offering after announcing a $700 million deal last month.

Points up front: Andromeda aims to stand tall against credit beasts
There are no end of monsters lurking in the credit markets this year, so it is perhaps fitting that Alberto Gallo has dubbed his new credit fund management business Andromeda

Balbec collects $1.5 billion for fifth mortgage and consumer loan fund
Balbec will invest through a new fund across residential, commercial, and consumer whole loan portfolios and across the performance spectrum including “assets subject to bankruptcy or other structured repayment plans"

Arena collects $930 million for second opportunistic credit fund
Arena has made a final close on a fund and surpassed the target it set at its first close in July last year

Ares plans four credit fund launches amid strong deployment
Ares Management benefitted from strong private credit deployment in the quarted and unveiled plans to raise its sixth European direct lending fund, second flagship closed-end alternative credit fund and third US junior capital direct lending fund

Large US manager closes third captive CLO equity fund
The $140 million fund is anticipated to invest in over five of US CLOs

Fund managers join forces on US asset-based lending platform
Castlelake has teamed up with Aequum Capital Founder to launch an asset-based lending platform, which will lend in ticket sizes of $1-10 million

Axonic holds first close on closed-end fund for real estate debt and CMBS
Axonic Capital has launched a closed-end fund to invest across commercial real estate, CMBS and residential transitional loans

Tikehau collects €3.3 billion for fifth European direct lending strategy
Tikehau Capital revealed in its H1 2022 results it reached a final close for its fifth European direct lending fund in July, collecting €3.3 billion for the strategy

Invesco holds final closed for distressed fund at $644 million
Invesco has made a final close of its global distressed credit and special sitiations fund known as Invesco Credit Partners Fund II

First Eagle wraps up fundraising for $1 billion direct lending fund
The strategy will target 6-9% net internal rate of return for its unlevered sleeve and 8-11% net IRR of return for its levered sleeve

BlackRock closes £1.7 billion private debt fund with wide mandate for UK pensions
The firm has deployed around 60% of the fund, which invests across US and European direct lending, US and European real estate debt and the firm’s global opportunistic strategy