Bain and Pantheon form $320 million private credit JV to invest in Europe and Australia
Bain Capital Specialty Finance, a publicly traded business development managed by Bain, has formed a joint venture with Pantheon’s private credit business to invest across Europe and Australia

Bain preps follow-up to 2015 global direct lending fund
Bain Capital has launched its latest direct lending strategy, Bain Capital Global Direct Lending 2021

‍Saudi Arabia's PIF becomes latest sovereign wealth fund to target direct lending
‍Saudi Arabia’s Public Investment Fund has become the latest sovereign wealth fund to enter the direct lending space, anchoring a Shariah compliant private credit fund managed by NBK Capital Partners

Carlyle holds first close on opportunistic credit fund amid 2020 'record fundraising'
Carlyle Group has held an initial closing on its second opportunistic credit fund amid a record credit fundraising year for the firm

Apollo credit assets rocket 50% with anticipated fundraising hike after Black investigation
Apollo Global Management's credit assets rocketed 52% over 2020 to $329 billion - and the firm predicts third-party fundraising to “build significantly” in the first quarter, following the conclusion of Dechert's investigation into chief executive officer Leon Black

M&G lays out ESG focus with £5 billion pledge to 'sustainable private assets'
M&G is allocating £5 billion ($6.8 billion) from its £136 billion with-profits fund into businesses using a model which places emphasis on ESG, sustainability and impact investing

Credit funds at a glance (February 2021)
A round-up of fundraising and people moves

New York life sciences specialist hires three and launches credit opportunities fund
A life sciences boutique has launched a credit opportunities strategy and has hired three officials to lead the charge.

Credit fundraising: January proves anything but dry for manager inflows
After a tough and unpredictable year, January may have been seen by many as an opportunity for a fresh start. But for seven managers it meant holding final closes on funds, while three undertook first closes and one a fund launch

Manager beats "more than 30" to partner with Zurich Invest for European direct lending
A UK-based fund manager has beaten off competition to land a partnership with Zurich Invest

LP round up: Dutch pensions put €1.3 billion into infra debt
Institutional investors allocated over $2 billion to credit funds in January. Opportunistic credit funds were a favourite but the biggest moves came in infrastructure debt

Shamrock targets $200 million for media credit opportunities fund
Shamrock Capital Advisors is targeting $200 million for its inaugural credit opportunities fund, Shamrock Capital Debt Opportunities Fund I

Blackstone raises $1.1 billion for mezz and $1.7 billion for direct lending
The New York-based manager had a strong final quarter of 2020, adding $13.1 billion in credit assets under management in the quarter

PennantPark keeps up fundraising pace with new credit opps strategy
PennantPark Investment Advisers has held a final close for its US middle market opportunistic credit strategy, PennantPark Credit Opportunities Fund III

Marathon secures $900 million for asset-based lending fund
The New York-based manager will invest in asset-based loans across the healthcare, real estate, equipment and transportation and corporate sectors 

SME lender LCM raises €3.4 billion for European credit fund
LCM Credit Opportunities 4 is nearing a €4 billion target and expects to hold a final close in April

Credit Rendezvous: heading for homes
Fund managers in structured credit, real assets and distressed are bullish on the prospects for residential housing in 2021. Elsewhere, niche royalty-based strategies are in favour and although a CLO repricing wave is expected, it may not be easy to execute resets. For more, read our 13-page quarterly report on credit. 

Kennedy Lewis raises $2.1 billion opportunistic credit fund
Kennedy Lewis Investment Management has closed a second middle market opportunistic credit fund at $2.1 billion, more than doubling its initial $1 billion target

UK pension seeks direct lending manager for £250 million commitment
Essex Pension Fund has issued a request for proposals to allocate up to £250 million to a direct lending fund

Oquendo exceeds €150 million hard cap for senior direct lending fund
Spanish direct lender Oquendo held a €172 million final close on its senior direct lending fund, Oquendo Senior Debt Fund, in December 

Blackstone amasses $1.8 billion investable capital for inaugural non-traded BDC
Blackstone says it has raised $814 million for its 7 January public offering of its non-traded businesses development company, Blackstone Private Credit Fund

Anima holds first close on Italian direct lending fund with EIF backing to follow
The Anima Alternative 1 fund has a €150 million target and €200 million hard cap

Investec holds €165 million first close on inaugural direct lending fund
Investec has held a first close of its inaugural debt fund, Investec Private Debt Fund I, at €165million

Sixth Streets hits €1 billion hard cap for second European direct lending fund
Sixth Street has closed its second European direct lending fund, Sixth Street Specialty Lending Europe II, at its €1 billion hard cap

LP round-up: investors gift private debt and leveraged loan RFPs over holiday season
2020 ended on a strong note with four institutional investors increasing asset allocation to private debt or initiating private debt and leveraged loan searches. ArrowMark, Banner Ridge, BBAM, HIG Whitehorse, Monroe and Rialto were also awarded mandates