Private credit managers re-examine docs in new fundraising approach
Private credit managers are facing numerous challenges and those looking to fundraise have had to change the way they approach the process, including documentation, according to a note from DLA Piper

Managers get creative as private credit fundraising set for Q2 dent
Private credit funds should expect a slowdown in fundraising as credit markets gyrate wildly and investors address issues in their public market strategies. But managers have been coming up with creative solutions to keep business flowing

Alcentra prepares listed credit fund
BNY Mellon Investment Advisor has teamed up with affiliate Alcentra to launch a listed fund that can invest across a range of credit strategies

Mercer puts private debt at heart of $2.7 billion fund of fund
Mercer has held a final close at $2.7 billion for a private markets fund that offers investors access to private debt and sustainable products  

Pimco plans to outperform come rain or shine with $4.5bn all-weather fund
Pimco has become the latest manager to fashion a flexible, all weather credit fund that invests across public and private markets, geographies and capital structures. The Newport Beach-based manager is hoping to raise $3 billion for the strategy. With half a turn of leverage, it could have up to $4.5 billion to deploy.

Yielco collects €675 million across two private debt fund of fund strategies
The Munich-based firm held a final close on its inaugural private debt fund of funds strategy and has also won a separate prive debt mandate

Pimco launches listed multi-sector global credit fund
Known as Pimco Tactical Income Fund, the fund will invest in a range of global credit strategies and will list on the New York Stock Exchange

Partners nears $100 billion in AUM as CLOs drive private debt growth
Swiss manager Partners Group has reached $94.1 billion in assets under management, with CLOs boosting the firm’s growth, according to its 2019 annual results  

BC Partners seeks $1 billion close for special opportunities fund
BC Partners Advisors is targeting a $1 billion close for its recently launched special opportunities fund, according to documents seen by Creditflux.  

Värde launches $2.5 billion global credit fund
Värde Partners has raised $2.47 billion for a new global credit fund, according to an announcement today

UK pension partnership launches maiden private credit offering at £581 million
Border to Coast Pensions Partnership (BCPP) is set to commit £581 million in private credit, as part of its maiden offering in this asset class  

West coast pension looks to step up direct lending allocations
The City of Fresno Retirement System will commit $140-160 million to private credit for the next two years, according to board documentation seen by Creditflux. This comes amid a pause in direct lending commitments for the pension fund, which has not committed any capital to this market in 2019

Minnesota pension to invest $300 million in distressed and private credit funds
Minnesota State Board of Investments is set to invest $100 million in a mezzanine debt fund and $200 million in a distressed debt fund

Arizona pension to deploy up to $700 million a year in private credit
Arizona Public Safety Employee System is looking to deploy $600-700 million in private credit strategies per year in order to meet its target allocation, according to board documents seen by Creditflux.

Private credit growth helps Hamilton Lane 13% growth in AUM
Alternative manager Hamilton Lane has reached $481 billion in assets under management and advice as of September, with credit funds supporting the organisation’s growth  

UK pension hires BNP Paribas AM for starring role in core-satellite private credit fund
UK pension fund Nest has appointed BNP Paribas Asset Management to run the core of a private credit fund, sources say, in an arrangement which sees Amundi and BlackRock manage certain satellite investments  

Russell and Mediobanca launch multi-asset fund with CLO allocation
Mediobanca Private Banking has joined forces with Russell Investments to set up a fund that has a 20% allocation to credit, sources say  

Partners Group brings global private debt strategy to Australian retail investors
Partners Group has bolstered its private debt offering to retail clients, collecting AUD550 million for a private debt offering which has been listed on the Australian Securities Exchange.

Veteran Ulmer targets array of private credit for new firm
Andrew Ulmer, who led the structured finance expansion at Brevan Howard, has resurfaced with his own asset management company, 1543 Capital, according to documents seen by Creditflux.

US pension scheme eyes 50 South Capital fund of funds
50 South Capital Backed Credit Fund II, a fund-of funds vehicle, is set to invest in four loan funds in small and medium size companies, according to documents seen by Creditflux  

Credit funds contribute to Hamilton Lane’s AUM growth
Hamilton Lane has announced its assets under management and advisement has hit $473 billion as of June. This comes shortly after it closed a credit fund and begun marketing another one

Hamilton Lane holds $760 million final close for private credit fund
Hamilton Lane has held a $760 million final close for its latest global private credit fund, collecting slightly less capital than the manager’s predecessor fund. 

Utah fund set to invest $45 million across Beach Point and Crestline funds
The Utah School & Institutional Trust Fund Office is set to make commitments to credit funds managed by Beach Point Capital Management and Crestline Investors

GSO adds $10 billion to inflows with direct lending, structured credit and energy
Blackstone grew its credit assets under management to $139.3 billion, up 13% on a year ago, according to the firm's second quarter earnings release

Private debt boosts Partners' AUM
Partners Group has reached €17.2 billion in private debt assets for the first half of 2019, with private debt experiencing the highest net growth among all private markets, according to an AUM update from the manager today