Apollo launches private credit JV with Belstar in Korea
Apollo says it has been “exploring the market opportunity in Korea with a heightened degree of interest for several years”

HPS launches sixth direct lending fund
The firm's previous fund in the series closed in September with over $15 billion of investable capital

Cheyne looks to uncover value in sponsorless loans
Cheyne Capital Management is eyeing sponsorless direct lending opportunities for a fund launch later this year

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

Tikehau collects €3.3 billion for fifth European direct lending strategy
Tikehau Capital revealed in its H1 2022 results it reached a final close for its fifth European direct lending fund in July, collecting €3.3 billion for the strategy

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

Apera raises €1.27 billion for second European private debt fund
European mid-market direct lender Apera exceeded an initial €800 million target for the vehicle

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  

Barings closes European private credit fund at €7 billion
Barings says it has raised €7 billion for European Private Loan Fund and related vehicles, having deployed €6 billion into 80 transactions of the last 18 months

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...

Private fund All Seas builds momentum with third investment
All Seas Capital – the direct lender launched by former KKR executives in 2019 – has signed its third direct lending investment

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