BlackRock launches first evergreen private markets fund for Europe’s wealthy
BlackRock has announced the launch of an innovative evergreen private markets platform for wealthy investors in Europe

Aviva Investors seeds private debt fund targeting UK DC pensions with EUR 750m of capital
Aviva's Multi-Sector Private Debt Fund will invest across the private debt spectrum including real estate debt, infrastructure debt, structured finance and private corporate debt

AshGrove raises EUR 650m for European direct lending fund
AshGrove Capital recently announced the final close of its most recent fund, AshGrove Specialty Lending Fund II

Beechbrook raises GBP 151m for SME credit fund
Beechbrook has announced the first close of its latest SME credit fund, UK SME Credit IV, with GBP 151m raised out of a target of GBP 250m

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 raises USD 4.8bn for large cap direct lending
Apollo Global Management has closed its Apollo Origination Partnership Fund II, raising approximately USD 4.8bn of investable capital

Diversification is driving direct lending allocations in Italy and Canada
In recent visits to Milan and Toronto, we heard how private capital is becoming accepted as a core allocation in institutional investment portfolios

Adams Street raises additional USD 289m for evergreen fund
Adams Street Partners has corralled an additional USD 289m for an evergreen direct lending fund that launched in 2020

BNP Paribas AM raises EUR 90m for private debt fund of funds
A new fund of funds from BNP Paribas AM will target European special situations by investing in 6 to 8 private debt funds 

LBP AM raises EUR 300m for French private credit strategy
Paris-based manager LBP AM held a successful close raising EUR 300m for its small and mid-cap focused senior secured debt fund

ICG holds largest ever European direct lending fundraise
ICG Senior Debt Partners V broke records with a final close at USD 17bn (approximately EUR 15.2bn), the largest European direct lending fundraise to date

BNP Paribas raises EUR 741m for direct lending strategy
BNP Paribas Asset Management has completed the close of its third European senior private credit fund 

Park Square raises EUR 3.4bn for direct lending strategy
Park Square continued its long standing partnership with SMBC as the cornerstone of a Eureopan direct lending fundraise

New Mexico pension system allocates USD 150m to private credit
The New Mexico State Investment Council is diversifying its European exposure with a new private credit fund commitment

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 

German manager launches two new private credit fund-of-funds
YIELCO Investments, a German alternative asset manager, is planning a 2024 first close for two newly launched private debt fund-of-funds

Connecticut pension allocates USD 300m to Oaktree’s distressed credit fundraising
Connecticut pension system commits to Oaktree latest flagship distressed credit fund

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

Oak Hill teams up with One Investment for European private credit
US-based Oak Hill and One Investment ink JV with USD 5bn to invest in upper middle market and large European companies 

French asset manager launches impact credit fund for European SMEs
 A Paris-headquartered alternative asset manager held the first close of its SME-focused direct lending fund at EUR 200m

Nordic private credit fund raises EUR 500m
Ture Invest Partners has held the final close of the third vintage of its private credit fund having reached its target at roughly EUR 500m

New Mexico pension system allocates USD 200m to specialty finance
The new commitment is the latest in a string of investments in private credit from the New Mexico State Investment Council, totaling hundreds of millions of dollars

French investment firm closes sixth private debt fund with EUR 2.5bn in commitments
French private investment firm Capza held a final close of its sixth private debt fund, with commitments 50% greater than the size of the previous vintage

NorthWall surpasses expectations for European credit opportunities fund with EUR 640m
London-based credit specialist NorthWall Capital held the final close of the second iteration of its flagship European opportunistic private credit strategy

Funds round up: May 2024
The demand for SRT strategies and special situations funds are on the uptick, as is the demand for managers and funds outside of North America.