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

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

CPPIB reveals $600 million in credit investments across France, India and US
Canada Pension Plan Investment Board has revealed $600 million in credit allocations to three managers

Kartesia closes €1.5 billion credit opportunities fund
Kartesia has closed its fifth credit opportunities fund, Kartesia Credit Opportunities V, at €1.5 billion

Evli launches global private debt fund of funds
Evli Private Debt Fund I will invest in European and North American private debt funds 

PE firm HG targets up to $1 billion for credit fund to invest in its portfolio companies
Documents show HG's Titan 1 will allow investors to capture the returns that have historically gone to third-party credit investors 

Canadian pension Imco allocates $500 million to Ares
Investment Management Corporation of Ontario has revealed a $500 million allocation to a large credit manager that includes $400 million to a fund-of-one

Schroders and Oaktree launch global credit ucits fund
Schroders has partnered with Oaktree Capital Management to launch a global multi-strategy credit fund, Schroder GAIA Oaktree Credit fund, which will sit within Schroders' alternatives ucits platform

DWS and Tikehau target UK pensions with multi-strategy credit fund
The new fund will invest in CLOs, ABS, private debt, leveraged loans, infrastructure debt and real estate debt

BlackRock holds $940 million first close on global private debt fund designed for UK pensions
BlackRock has collected $940 million on a first close of its new private debt fund BlackRock Diversified Private Debt Fund 

LP round up: $3.2 billion flows to 21 managers as private credit illiquidity premium holds firm
Investors allocated at least $3.2 billion to credit managers in April - and direct lending funds were in favour with Churchill and Ares being awarded two mandates

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

Park Square collects €1.8 billion for European mezz debt fund
With leverage, Park Square expects the strategy to have €2.2 billion of investable capital

Credit fundraising: three massive European direct lending funds notch up €17.6 bn
Fundraising figures continued upwards in April as just over $24 billion was raised for credit funds, alongside $3.2 worth of allocations to credit managers. Nine funds held final closes including the largest European direct lending fund raised to date

Ares flush with cash after raising €15 billion for European direct lending
Ares Management has raised one of the largest European direct lending funds on record and, with leverage, the fund expects to have a whopping €15 billion to deploy

EIF and Alantra commit up to €110 million for Spanish SME lending
The European Investment Fund and direct lender Alantra have joined forces to provide up to €110 million financing to European small and medium sized companies

Toronto-based Whitehorse Liquidity hits $4 billion hard cap on liquidity solutions fund
Whitehorse Liquidity Partners Fund IV provides liquidity solutions to private equity-style fund investors and managers

Muzinich amasses €342 million on third close for European direct lending fund
Muzinich Pan-European II Private Debt Fund is a lower mid-market European direct lending fund