CLO manager shoots for success with CLO captive fund
A Colorado-based firm has joined a plethora of US CLO managers this year to fundraise for a CLO captive fund

PennantPark closes levered sleeve of private credit fund at $460 million
PennantPark Investment Advisers has closed the levered sleeve of its fifth comingled fund, PennantPark Senior Credit Fund Levered. Its unlevered sleeve, PennantPark Senior Credit Fund, is due to hold a final close in December

KSL amasses $753 million for fourth travel and leisure credit fund
 KSL Capital Partners Credit Opportunities Fund III had an initial $675 million target and fundraising took ‘less than a year’

Incus targets €500 million for fourth SME credit fund
The Madrid-headquartered firm has launched its fourth asset-backed European credit fund, Incus European Credit Fund IV, with a €500 million target and €650 million hard cap

RiverRock closes €604 million senior direct lending fund
RiverRock has held a final close on RiverRock Senior Loan Fund I at €604 million, with around 50% of the portfolio deployed

HarbourVest nears $600 million final close on US direct lending fund
HarbourVest Direct Lending Fund will invest in US private equity-sponsored mid-market companies with ebitda between $10 million and $150 million

Siguler Guff retains nearly 90% for second $450 million opportunistic credit fund
Siguler Guff has closed its second credit fund, Small Business Credit Opportunity Fund II, at $450 million

Muzinich launches APAC private debt fund with DBS as anchor investor
Muzinich has launched an Asian special situations fund named Muzinich Asia Pacific Private Debt I

Cross Ocean targets up to $1 billion for European special situations fund
Cross Ocean Partners is seeking up to $1 billion for its latest European special situations fund

Marathon targets $300 million for inaugural healthcare credit fund
Marathon Asset Management is targeting $300 million for a credit fund focused solely on healthcare loans

Stepstone wins €215 million private debt mandate from Italian pensions
A consortium of Italian DC pension funds have allocated the capital to a private debt fund of funds under the name Project Zefiro

Two CLO investors win $250 million from US pension
A Rhode Island pension has allocated $250 million to two CLO investors following its new 2% allocation to the asset class earlier this year

CarVal exceeds target with $3.6 billion distressed credit fund
CarVal will invest in distressed credit including acquiring loan portfolios, investing in corporate securities, structured credit and hard assets

Debut US CLO manager targets $300 million for captive equity and mezz fund
A US manager with plans to launch its first CLO this year is in the market with a capitve equity fund to invest in its own CLOs

Banks battle back with their own direct lending fund launches
Through their own direct lending arms, large banks are leveraging their long-standing expertise and offering private debt to reclaim market share. Though small, these hybrid bank funds are certain to grow

Manager targets $450 million for global CLO fund
A New York pension has backed the fund, which will invest in CLO debt and equity tranches and is said to have held a first close in Q1

Apollo pledges $500 million to Victory Park's growth ABL e-commerce strategy
Apollo Global Management says it has committed up to $500 million to Victory Park Capital’s growth lending strategy, which will focus on asset-backed lending to Amazon and e-commerce aggregators

AlbaCore swims to €1.5 billion first close on European private debt fund
AlbaCore Capital Group has held a first close on its third European direct lending fund, which has a €2 billion target

Mezz fund is meat and drink to Cerea as it holds €215 million first close
Cerea Partners is targeting companies in the food and beverage value chain as it launches a new mezz fund   

Credit fundraising: Audax scores big in lighter month
Fundraising markedly dropped in May, but credit funds still amassed $12.8 billion and 10 credit funds reached final closes across a variety of different strategies

Novicap tech platform targets credit investors with fundraising drive
Novicap, a fintech company offering working capital optimisation solutions to SMEs and mid-market corporates, is looking to debt capital markets participants such as credit and structured credit funds, asset managers, pension companies and insurers as it seeks to raise third-party funding for its credit platform

Tech firm tempts credit investors with supply chain finance offer
Novicap, a fintech company focused on invoice financing, is looking to debt capital market participants — such as credit and structured credit funds, asset managers, pension companies and insurers — as it seeks to raise third-party funding for its credit platform

Managers offer solutions for underfunded pensions
Credit managers are tapping UK defined benefit pensions that are battling negative cashflows

Credit funds at a glance (June 2021)
A round up of fundraising and people moves in credit

HarbourVest closes $833 million credit opportunities fund
HarbourVest Credit Opportunities Fund II will target a 13-16% net internal rate of return with a portfolio of around 70% credit and 30% equity