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

Centerbridge launches new distressed debt fund targeting around USD 4bn
EXCLUSIVE: The Washington State Investment Board looks to come back as an investor in Centerbridge’s fifth special situation funds that’s looking to raise USD 4bn 

Tikehau raises EUR 1.2bn for European special opportunities credit
The third vintage fund held a final close, surpassing the fundraising target

Oaktree lowered its distressed debt fundraise to USD 16bn
The market and investment environment for distressed debt shifted, and investors asked whether the original target was too big.

Oaktree Closes on USD 16bn for distressed debt strategy
Oaktree Opportunities Fund XII just edges out its predecessor fund, which closed in 2021 with USD 15.9bn in commitments  

Carlyle raises over USD 7bn for credit opps fund
Carlyle today announced the final close of its third credit opportunities fund at USD 7.1bn in investable capital, marking the global investment firm’s largest credit fundraise to date

Polus raises capital from Abu Dhabi Investment Authority for stressed credit
Polus Capital Management secures commitment from Abu Dhabi Investment Authority that takes the firm's special-situtation strategy to USD 5bn

European credit specialist Sona raises USD 800m, exceeds expectations
European credit specialist Sona Asset Management held a final close of its Capital Solutions II fund

MidOcean Partners closes USD 765m opportunistic credit fund
MidOcean's latest direct lending strategy focuses on lending to mid-sized stressed, distressed and dislocated performing businesses.

SFERS commits another USD 75m to private credit
The San Francisco City & County Employees' Retirement System's latest commitment to private credit comes in the form of a USD 75m allocation

Indian manager raises nearly INR 25.75bn for credit opportunities fund
A Mumbai-based manager held a final close on its new special sits fund with INR 25.75bn raised

Florida-based credit specialist raises USD 130m for opportunistic credit fund
A new opportunistic credit and asset-based finance fund will back companies in the media, tech, telecommunications, intellectual property and specialty finance sectors

Funds round up: May 2024
The demand for SRT strategies and special situations funds are on the uptick, as is the demand for managers and funds outside of North America. 

Avenue Capital raises billion dollar European special situations fund
New York-headquartered Avenue Capital Group held the final close of a new European special situations fund with more than USD 1bn in commitments

Benefit Street closes USD 850m special situations fund
Benefit Street Partners held the final close of an upper middle market focused special situations fund with roughly USD 850m

Funds round up: April 2024
Allocations to private credit and new fund launches continued to roll out in April, as our monthly round-up confirms

Golub raises USD 2bn for sixth credit opportunities fund
Golub Capital has held the final close of the sixth vintage of its credit opportunities fund, raising USD 2bn

New Mexico pension system approves USD 150m top-up to distressed debt fund
The New Mexico State Investment Council continued to pump money into credit alternatives on Tuesday, as the board approved its latest commitment

Pension fund backs Apollo with $200 million for new European credit fund
Apollo Global Management is looking to raise around $3.5 billion for a new credit fund which will look to purchase non-core assets off the books of European banks

Dallas-based distressed fund hires as it looks to raise assets
Business development specialist joins Dallas-based fund in asset-raising push 

Distressed manager wins $15 million from pension fund for new strategy
Having just launched its fourth fund, a Toronto-based manager has made a rapid return to the market with fund five

West coast pension backs Oaktree with $600 million for distressed debt
One of Oaktree Capital Management's most valued clients has backed the manager's upcoming distressed debt strategy

Octagon launches its first fund to target distressed and structured credit
Long-time CLO manager Octagon Credit Investors has this month diversified its business by launching a new commingled credit fund.