Credit funds at a glance (February 2023)
A round up of people moves and fundraising

Horizon Kinetics plots fund conversion into CLO ETF
Horizon Kinetics has sought to reorganise its Kinetics Multi-Disciplinary Income Fund into a triple A CLO-focused exchange traded fund,

BC Credit targets $1.25 billion for third opportunistic credit fund
BC Partners Credit plans to deploy half the fund in private lending and structured equity opportunities and the other half in specialty lending and dislocated liquid credit deals

ICG holds first close on US private credit fund
In total, ICG says it brought it $2.8 billion for its private credit strategies in the quarter

Panagram launches ETF for junior CLO debt
Panagram Structured Asset Management has gone live with its first exchange-traded fund in a strategy that will target primarily CLO triple B and double B debt.

Fund manager closes in on CLO ETF for mezz and junior debt
A large CLO investment firm is close to launching an exchange-traded fund, which invests in junior and mezzanine CLO tranches, 

Audax raises $3 billion for unitranche direct lending fund
With leverage, the fund has around $4.5 billion total investable capital

GSAM raises $15.2 billion mezzanine debt fund
With leverage, West Street Mezzanine Partners VIII will have a whopping $15.2 billion capital available to deploy into the junior strategy.

Wealth manager launches evergreen private debt fund
Cresset Partners has unveiled what it describes as an evergreen fund in Cresset Partners Private Debt Fund, a US middle-market credit strategy that lends to companies with $10-100 million ebitda

Alpha Dhabi taps Apollo Mubadala partnership with $2.5 billion private credit JV
The group will leverage Mubadala's relationship with Apollo Global Management to access "high quality private credit investment opportunities" 

Churchill closes $737 million junior debt fund with small rated note
Churchill Asset Management closed its second junior debt fund, Churchill Junior Capital Opportunities Fund II, which includes a $65 million rated note to meet the needs of insurance company investors

Tikehau launches inaugural $300m CFO
Tikehau Capital says it has closed its inaugural collateralised fund obligation, joining the likes of Churchill Asset Management and Nassau Corporate Credit who have launched such structures this year. 

LA pension awards $675 million to illiquid credit managed account
The strategy will invest across asset-backed credit, loans, bonds, and specialty finance

Carlyle targets $6.5 billion for credit opps fund
Carlyle Group is targeting $6.5 billion for its third opportunistic credit fund, according to a pitchbook seen by Creditflux

Credit funds at a glance (December 2023)
A round up of fundraising and people moves in credit

VSS exceeds target to close mixed debt and equity fund at $530 million
VSS Capital Partners has announced the final close of its mixed debt and equity vehicle named VSS Structured Capital Fund IV at $530 million, exceeding its target fund size of $400 million

LP round up: 27 managers find the top corner with investor wins
Credit fund managers like to take it one fund at a time and give it 110% for their 90-minute investor fund pitches - and it's working as $3.8 billion was allocated during November and early December. The gaffer would be proud. 

400 Capital raises $580 million for third asset backed credit fund
400 Capital Management has closed its third asset backed fund 400 Capital Asset Based Term Fund III at $580 million

Crescent eyes non-traded BDC for private credit offering
Crescent Capital is looking to expand its middle market direct lending product suite, with the firm registering a non-exchange traded business development company with US regulators

San Bernardino pension commits $50 million to CLO fund as part of multi-credit strategic partnership
San Bernardino County Employees’ Retirement Association allocated $50 million to a CLO equity fund, as part of a roughly $240 million multi-credit strategic partnership with the manager

US manager becomes latest to register triple A CLO ETF
The manager joins the likes of BlackRock, PineBridge and VanEck, Janus Henderson and AXS to use exchange traded funds to invest in CLO tranches

BlackRock launches impact bond fund
BlackRock has launched a fixed income fund focused on green, social, and sustainable bonds as well as ‘impact’ MBS and municipal investments

Calpers allocates $2.75 billion to two credit managers
US pension heavyweight California Public Employees Retirement System earmarked $3 billion to credit funds in the third quarter of 2022, according to recent board materials 

Brookfield/Oaktree targets "larger" than $16 billion for next opportunistic credit fund
Brookfield Asset Management held a $2.8 billion first close on its third infrastructure debt fund and has started fundraising for its next vintage of our opportunistic credit flagship fund, alongside affiliate Oaktree, according to the firm's Q3 earnings call

Angel Oak launches second structured credit ETF in a month
Angel Oak Capital has launched it second structured credit exchange traded fund in a month