Pimco eyes CLOs as part of new flexible credit interval fund
Pimco is preparing to launch a new closed-ended, non-listed interval fund, named Pimco Flexible Corporate Income Fund, which will invest at least 80% of assets in corporate debt across public and private credit markets

Rated-note feeder funds emerge as CFO alternative
Insurance companies are increasingly looking to invest efficiently in credit products. The resurgence of collateralised fund obligations has been well documented, but sources say rated-note feeders are also gaining in popularity

Credit funds at a glance (April 2023)
A round up of people moves and fundraising

HPS raises $12 billion for fifth junior capital fund
HPS Investment Partners has closed its fifth junior capital solutions fund, HPS Strategic Investment Partners V, at $12 billion. With leverage, the strategy has $17 billion investable capital

Fidelity Investments raises over $100 million for BDC
Fidelity Investments says that its business development company, Fidelity Private Credit BDC, is up and running with “in excess of $100 million”.

Ares targets $5 billion for second credit 'Pathfinder' strategy
Ares says it is finding relative value in FinCo loans, rescue financing, asset portfolios and residential mortgages and is monitoring opportunities in CLO tranches

Nomura's private capital unit launches credit interval fund
Nomura Alternative Income Fund has a flexible allocation across private and public credit sectors, depending on relative value opportunities

Ironshield prepares for distressed opportunities with closed-end fund launch
Ironshield Capital has unveiled a closed-end fund which invests in private credit and illiquid public credit.

Arrow overshoots €2.5 billion target for second credit opps fund
Arrow Global has closed its second credit opportunities fund at its hard cap, collecting around €2.75 billion and exceeding its €2.5 billion target

Ares and Mubadala establish $1 billion global credit secondaries JV
The pair aim to capitalise on the 'anticipated growth and substantial demand’ from managers and investors for customised liquidity solutions

Tikehau preps sixth European direct lending fund launch
Tikehau Capital is preparing to start fundraising for its sixth European direct lending fund, Tikehau Direct Lending VI 

Deerpath leaps to $1.5 billion close for US lower mid-market direct lending fund
With leverage, the strategy has $2.8 billion in capital available to deploy

Robeco launches sustainable senior loan fund with €130 million first close
Orix Corporation, Robecco's parent company, has committed a 'significant' amount of the €130 million initial commitments

Mapre launches private debt strategy to bring together subsidiary investments
Mapre Asset Management is bringing together all private debt investments made by the insurance group's subsidiaries, as well as new investments, with the launch of a new private debt fund

Calpers allocates $2.5 billion to two large private debt managers
Pension giant Calpers has revealed $2.5 billion allocations to two private debt managers

Schroders breaks barriers with first Long-Term Asset Fund approval
Schroders has received regulatory approval from the UK’s Financial Conduct Authority to launch the first Long-Term Asset Fund 

Capital Four holds €1 billion first close on senior direct lending fund
Creditflux understands the fund has a €2 billion target

Adams Street targets $4.5 billion for third private credit strategy
Kentucky Public Pensions Authority is planning a re-up to the vehicle, according to a recent investor presentation

Angelo Gordon wraps up fundraising for $1.3 billion credit dislocation fund
AG CSF2A (Annex) Dislocation Fund is an extension of the AG Credit Solutions Fund II, which held a $3.1 billion final close in April last year.

LP round up: securitised credit mandate terminated amid $5 billion allocations and expanding relationships
Institutional investors revealed nearly $5 billion of allocations to 31 credit managers across January and February board meetings, according to materials seen by Creditflux. However, there were also two fixed income manager terminations, and one multi-strategy account placed on a watchlist

Oaktree targets $10 billion for LBO financing strategy
The launch of the firm's large-cap sponsor-backed private credit strategy follows banks retreating from the LBO space and a more compelling risk-adjusted return than other sectors in the market

Crescent amasses $8 billion investable capital for eighth credit solutions fund
The fund had an original $4 billion target, according to Debtwire Funds Data

Bain launches non-traded BDC
Bain Capital Credit says it has launched a non-traded business development company known as Bain Capital Private Credit, or BCPC

Pemberton raises $1bn for rare working capital finance strategy
Pemberton says it has raised $1 billion for its working capital finance strategy, in what it believes makes Pemberton one of the first asset managers to offer such a short-term credit strategy to institutional investors

Nuveen and Churchill launch private BDC with initial $350 million portfolio
The Nuveen Churchill Private Capital Income Fund will primarily invest in middle market senior loans and junior capital. The BDC can also allocate to private equity co-investments