JPMorgan’s asset management arm seeks to raise direct lending fund
EXCLUSIVE: The asset management unit is raising capital from institutional investors for direct lending as the bank steps up lending from its balance sheet.

Partners Group seeks to more than double private credit AUM
The alternative investment firm plans to grow private credit AUM to more than USD 70bn and could consider acquisitions

L Catterton raises USD 450m in first close for debut direct lending fund
EXCLUSIVE: The direct lending arm of L Catterton launched the fund in 2024 and is targeting USD 1bn in commitments.

Invesco closes fundraising for flagship direct lending with USD 1.4bn
Direct Lending Fund II will pursue senior secured loan investments in the middle market

Global Private Credit AUM to reach USD 3trn by 2028 - Moody’s
Global private credit AUM is poised to hit USD 3trn by 2028, Moody's predicts, with momentum expected to grow over the next three years

Mega direct lenders break records despite sluggish fundraising cycle
The new year kicked off with Ares Management showcasing the largest ever fundraise for a European direct lending strategy, suggesting that investors are preferring to pile into the largest private credit managers

Colbeck closes USD 700m fund for unsponsored direct lending
Colbeck Capital Management has raised USD 700m to invest in senior secured loans to unsponsored, middle market companies

BMO strikes partnership with firm founded by ex-CBAM’s Young and Damaso
BMO and Canal Road Group have struck a direct lending partnership that includes BMO taking a minority stake in the asset management company and investing up to USD 1bn 

Blue Owl raises more than USD 2bn for evergreen direct lending strategy
Blue Owl has raised more than USD 2bn for its sophomore direct lending fund that focuses on senior, first-lien loans

Sixth Street to invest USD 13bn for Northwestern Mutual
Sixth Street and Northwestern Mutual have struck a deal that gives Sixth Street USD 13bn of the insurer’s assets to invest across its private capital strategies

Carlyle’s AlpInvest and Mubadala establish fund financing partnership
Carlyle Group subsidiary AlpInvest Partners and Mubadala have set up a new credit co-investment partnership to provide portfolio senior fund financing on a global basis  

Silver Point closes on USD 8.5bn for direct lending fund, exceeding target
Silver Point Capital has held a final close for Silver Point Specialty Credit Fund III, raising USD 8.5bn for direct lending to middle-market companies, according to a press release. 

Pantheon raises USD 1.19bn for latest private credit secondaries fund
Pantheon has raised USD 1.19bn in its latest fundraising for Pantheon Senior Debt Secondaries III, to invest in the private debt secondaries space

TPG Angelo Gordon raises nearly USD 2bn for private credit strategy
TPG Angelo Gordon has raised USD 1.82bn so far for its private credit fund called TPG AG Credit Solutions Fund III which is targeting USD 4.5bn in commitments
   

Corinthia eyes EUR 1bn first close for maiden European direct lending strategy
Corinthia is on the cusp of holding a EUR 1bn first close for its inaugural European direct-lending strategy, four sources familiar with the situation said. 

Apollo prioritizes origination as dry powder pressures mount in private debt industry
Apollo's Rowan says sourcing deals will be the limiter of growth for his industry rather than finding capital, and will prompt more tie-ups with banks

Antares pursues private credit fund for affluent individuals
Antares has filed for a non-listed BDC that targests affulent individal investors for private credit

Access Pool plans to allocate GBP 350m to direct lending
UK-based pension system Access Pool is looking to allocate to direct lending strategies in Europe and the US 

Churchill raises more than USD 350m for junior capital debt fund
Churchhill Asset Management raised funds for junior capital direct lending to sponsor-backed US companies

Alternative PE lending puts pressure on LP-GP alignment
Loans that use fund NAV or GP earnings as collateral are growing in popularity. But some feel these deals could have unforeseen effects and hinder transparency in LP relationships

Boston pension system selects new private credit manager
The Boston Retirement System has selected a new manager and made a commitment to its private debt strategy, according to recently released minutes

Ares receives another USD 100m for its third direct lending fund
Ares Management continues to inch towards its goal of raising USD 10bn for its third senior direct lending fund with a recent commitment from a pension fund.

Sagard targets North American middle market opportunities with new senior lending fund - partner
Sagard, a Power Corporation of Canada alternative asset investment platform, will provide first-lien financing to lower middle market and middle market US and Canadian companies

New Mountain Capital BDC raises nearly USD 860m
New York-based alternative asset manager New Mountain Capital has held close of its New Mountain Guardian IV BDC 

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