Carlyle targets upper mid-market credit for new $3.1 billion fund
Carlyle Group has raised $3.1 billion for the first fund in its credit opportunities series.

Ohio pension backs GSO's upcoming European direct lending fund
Ohio Police & Fire Pension Fund (OP&F) has approved a $50 million commitment to GSO European Debt Fund II

Goldman Merchant Bank secures $4.4 billion senior debt capital to deploy
Goldman Sachs merchant banking division has closed its latest senior direct lending fund, Broad Street Senior Credit Partners II

Jefferies subsidiary and Stonyrock plan mid-market alternative manager stake acquisitions
The new joint venture will invest in private equity, credit, hedge funds, real estate, venture, and infrastructure firms

Maryland pension carves out private debt bucket
The Baltimore pension fund has also mandated a total of $25 million to one direct lending fund and one distressed debt fund 

Credit funds at a glance

A round-up of fundraising and people moves in credit

Italian manager launches fund for private debt opportunities
DeA Capital Alternative Funds, an Italian asset manager, has launched an alternatives fund to target global private debt investments, along with investments in private equity and infrastructure  

US pension backs Vista credit fund
Illinois Municipal Retirement Fund (IMRF) has approved a $50 million commitment to Vista Credit Partners Fund III, according to documents from the March board of trustees meeting  

Alaska pension commits $545 million to seven credit funds
Alaska Permanent Fund Corporation has earmarked $545 million to funds across the credit spectrum across Q2, according to 27 February board documentation

Ares grows credit 34% with direct lending boost, but high yield takes rough ride in Q4
Ares Management Corporation reported strong returns for its European direct lending strategies in the fourth quarter of 2018. But the firm's overall revenues slumped and its US loan funds and high yield strategies were hit by the volatile credit market 

HPS targets $8 billion for flagship mezzanine strategy
HPS Mezzanine Partners 2019, the firm's fourth fund in its mezzanine strategy, has won $100 million from a Louisiana pension fund 

Golding holds €580 million final close for private debt fund
Golding Capital Partners has held a final close for its private debt fund strategy at €580 million

BlueBay targets €5 billion for European direct lending strategy
BlueBay Asset Management is targeting €5 billion for its latest European direct lending strategy, according to documents seen by Creditflux, and has won $125 million in commitments from two US pension funds

Blackstone builds on multi-asset approach with fifth fund
The new vehicle will invest directly into Blackstone deals across its alternatives platform

Crestline holds $600 million final close for PE-focused financing fund
The new fund will provide financing to private equity funds post their investment period, allowing them to provide follow-on growth capital to portfolio companies or additional liquidity 

US pension commits $100 million to Apollo's hybrid private credit/private equity fund
Pennsylvania State Employees’ Retirement System has mandated $100 million to a multi-strategy fund managed by New York-based Apollo Global Management

KSL holds $671 million close for second travel and leisure credit fund
KSL Capital Partners has held a final close for its second credit fund with $671 million in capital commitments

BlackRock becomes latest manager to explore interval fund structure for credit
Several managers have hit the market with the interval fund structure, as investors look to invest in illiquid strategies through an illiquid fund structure

Four private credit managers score as Arizona pension fund commits $250 million
The $9.78 billion pension fund has mandated nearly $250 million to four private credit managers, alongside additional commitments for co-investment opportunities 

London-based direct lender wins as San Francisco pension fund deploys into private credit
A Californian pension fund has mandated $60 million to a strategic credit fund, as part of its private debt pacing plan to deploy up to $750 million to private debt annually

Oaktree raises new special situations fund while CIO warns of direct lending risk
Oaktree Capital Management has released its second quarter 2018 results in which the Los Angeles-based firm reported $2.4 billion of new capital commitments in the quarter

ICG reports €4.8 billion of inflows over three months after direct lending success
Intermediate Capital Group has released its quarter end results - showing strong inflows and deployment

Capital Dynamics registers debut direct lending fund
Zug-based Capital Dynamics is looking to launch Capital Dynamics US Middle Market Credit Fund after establishing a private credit business over the last 12 months

Michigan pension fund looks to commit $80 million to debt funds
The $114 billion Michigan pension fund is looking to commit to two private debt funds managed by London-based Kreos Capital and New-York headquartered MidOcean Credit Partners

HSBC asset management unit raises $800 million for global multi-manager loan fund
As a multi-manager fund,  the new vehicle aims to offer the benefits of fund-of-funds - diversification - but with a management fee comparable to a single manager