Investment manager launches to finance non-sponsored mid market
A new alternative manager launched Monday with a focus on debt and equity investments in non-sponsored, lower middle market businesses in North America

Sona rolls out event-driven and bespoke financing fund to US investors
Sona Asset Management is courting investors in the US for its second capital solutions strategy, having filed an offering of the fund with the Securities & Exchange Commission

Blackstone collects $4 billion on inaugural private credit green energy fund first close
Investors are big fans of Blackstone's new private credit green energy strategy, which focuses on renewables and energy transition 

Axa IM and InPact close €395m global revolving credit facility fund
AXA Investment Managers and InPact Partners have closed their second vintage revolving credit facilities fund, RCF II, with over €395 million in capital commitments

Fidelity Investments eyes CLOs as part of multi-strategy credit fund
Fidelity Investments is preparing to launch a new multi-strategy credit fund, which will “opportunistically rotate across the entire credit spectrum”

Churchill raises $12 billion for senior lending strategy
The total includes closes of Churchill's levered, unlevered funds and separately managed accounts

Nassau launches CFO backed by fund LP interests
Nassau Alternative Investments has launched its second collateralised fund obligation

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

   

Franklin Templeton and Benefit Street launch credit interval fund
The pair have launched a multi-strategy credit interval fund named Franklin BSP Private Credit Fund, which will invest across US private credit

LP round up: $2.7bn flows to 20 credit managers as investors battle PE overallocation
Investors faced huge headwinds in September with inflation, rising interest rates, and geopolitical turmoil, alongside the UK gilts sell-off at month end

GoldenTree hits $3bn hard cap on distressed debt fund
GoldenTree Asset Management says it has closed its latest distressed debt fund, Distressed Fund IV, at its $3 billion hard cap

TA raises $1.1 billion for fifth debt fund with expanded mandate
TA Associates has closed its TA Debt Fund V with more than $1.1 billion in capital commitments and has expanded its investment mandate across the capital stack

Nomura readies multi-strat credit interval fund launch
Nomura Private Capital is readying the launch of a new, closed-ended interval fund which will invest across the credit spectrum - including bonds, loans, CLOs, distressed debt emerging market debt

Michigan pension pledges over $1 billion to three US credit managers
Michigan Retirement System has pledged just over $1 billion to three credit managers

Anchorage holds first close on credit opportunities fund
Anchorage Capital has held a first close on its latest credit opportunities fund, Anchorage Credit Opportunities Fund VIII

Fidelity Investments prepares inaugural BDC
Fidelity Investments is preparing to launch its inaugural private credit business development company, Fidelity Private Credit Fund

Hamilton Lane wraps up private credit fund above $900 million target
It comes after Hamilton Lane's Q1 2023 earnings call on 2 August with the firm's head of investment solutions Brian Gildea saying the firm held “multiple closes that totalled over $573 million of LP commitments" with "total amount raised to over $890 million"

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

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

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

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

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.

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"