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

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

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

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.

Arena collects $930 million for second opportunistic credit fund
Arena has made a final close on a fund and surpassed the target it set at its first close in July last year

Ares plans four credit fund launches amid strong deployment
Ares Management benefitted from strong private credit deployment in the quarted and unveiled plans to raise its sixth European direct lending fund, second flagship closed-end alternative credit fund and third US junior capital direct lending fund

Fund managers join forces on US asset-based lending platform
Castlelake has teamed up with Aequum Capital Founder to launch an asset-based lending platform, which will lend in ticket sizes of $1-10 million

First Eagle wraps up fundraising for $1 billion direct lending fund
The strategy will target 6-9% net internal rate of return for its unlevered sleeve and 8-11% net IRR of return for its levered sleeve

BlackRock closes £1.7 billion private debt fund with wide mandate for UK pensions
The firm has deployed around 60% of the fund, which invests across US and European direct lending, US and European real estate debt and the firm’s global opportunistic strategy

Five credit managers win nearly $1 billion from UK pension pool
Five private credit funds emerged as winners after UK pension pool Border to Coast revealed $1 billion in a wide variety of private credit commitments

Monroe goes on fundraising trail for second opportunistic private credit fund
Monroe Capital has incorporated vehicles for its second opportunistic private credit fund, just two months after closing its inaugural fund, according to regulatory filings

CSAM closes inaugural global direct lending fund with $3bn deployable capital
Credit Suisse Asset Management has held a final close of its inaugural private credit opportunities fund at $1.67 billion. With leverage, the fund will have ‘in excess of $3 billion’ to deploy

KKR collects $2.1 billion for inaugural asset-based finance fund
KKR is making a push in the $4.5 trillion asset based finance market, which its co-heads of private credit see as "one of the most compelling and fastest-growing opportunities”

Calamos and Aksia eye CLOs as part of new multi-credit interval fund
Calamos Advisors and Aksia have teamed up to launch a closed-ended interval fund that can invest across several areas of credit

John Hancock and Marathon join forces on ABL fund with structured credit bucket
John Hancock Investment Management has teamed up with Marathon Asset Management for an asset-based lending fund, which can invest a portion of capital in liquid structured credit such as CLOs

Churchill raises $700 million CFO after targeting insurance company investors
Churchill Asset Management has raised $700 million for a collateralised fund obligation that will straddle its private credit and private equity business

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

LP round up: 28 credit managers win $6.6 billion as San Diego carves private credit allocation
Pensions allocated over $6.6 billion to credit managers in June including Angelo Gordon, Antares, Apollo, Ares, Beach Point, BioPharma, Brookfield, CarVal, Cerberus...

Victory Park collects $2.4 billion for asset-backed credit strategy
Victory Park Capital has raised $2.4 billion for its latest asset-backed opportunistic credit strategy

Ivy climbs to $115 million final close for US direct lending fund
Ivy Asset Group has held a $115 million final close of its US direct lending fund named 2022 Ivy Credit Opportunity Fund