Connecticut, San Francisco among funds making new private credit moves – Public Pensions, Private Pursuits
EXCLUSIVE: Connecticut plans commitment to Anchorage Capital distressed credit funds; San Francisco, North Dakota, and Dallas funds disclose recent commitments

JPMorgan’s asset management arm seeks to raise direct lending fund
EXCLUSIVE: The asset management unit is raising capital from institutional investors for direct lending as the bank steps up lending from its balance sheet.

Apollo raises USD 8.5bn for opportunistic credit
The fundraise includes commitments for Accord+ Fund II as well as for separately managed accounts and other related vehicles

DE Shaw closes USD 1.3bn private credit fund to back risk transfers, capital relief
The sophomore Diopter II fund will fund investments related to capital relief, risk transfer, risk sharing and other transactions by financial institutions

Apera secures EUR 2.9bn for European lower middle market lending
The fundraise for Apera Private Debt Fund III is double the size of its predecessor vehicle

Sculptor raises USD 900m for maiden tactical private credit fund
The “all-weather” fund originally launched in 2021, according to a filing

Wyoming, Texas among state systems making new private credit commitments – Public Pensions, Private Pursuits
Wyoming invests USD 300m in TPG AG and Kennedy Lewis private credit funds, and Texas pension system invests USD 250m in Penfund, SKY Leasing direct lending funds

Crayhill raises USD 1.31bn for opportunistic asset-based finance
The firm has already deployed 75% of its latest fund

Carlyle’s AlpInvest raises USD 3.2bn in financing for private funds, GPs
The firm’s new AlpInvest Strategic Portfolio Finance Fund II will provide financing to private equity funds, GPs and LPs as well as private credit secondaries investments

Pantheon raises USD 5.2bn for senior debt secondaries
The latest fund, Pantheon Senior Debt III, was oversubscribed as interest from the insurance channel grows

Massachusetts, midwest pensions disclose recent private credit moves – Public Pensions, Private Pursuits
ANALYSIS: Massachusetts, Michigan pensions reveal private credit investments totaling USD 225m, Illinois Municipal Retirement Fund commits USD 50m to Pemberton   

BC Partners secures USD 1.4bn for flexible, opportunistic credit
The private credit arm of the firm held a final close for its Special Opportunities Fund III

Marathon ditches distressed strategy to raise USD 2.7bn for opportunistic credit
EXCLUSIVE: The asset manager originally launched the fund with a distressed debt strategy but has since switched the focus to making opportunistic private credit and equity investments  

Private credit managers consider smaller fund targets
ANALYSIS: Some private credit managers are considering a smaller fundraise, bucking the convention of always aiming for bigger funds 

Cost of direct private credit highlighted as giant AIMCO shutters New York office

Lord Abbett looks to increase liquidity for private credit fund for individual investors
The asset manager is asking the SEC permission to offer monthly redemption opportunities to investors from the current quarterly schedule

Partners Group seeks to more than double private credit AUM
The alternative investment firm plans to grow private credit AUM to more than USD 70bn and could consider acquisitions

Banner Ridge targets USD 3.2bn for private credit secondaries
The firm will use the latest secondaries fund to buy stakes in private credit funds focused on special situations, distressed debt and opportunistic credit

Capitala Group raises USD 1bn for flexible debt, equity financing
The oversubscribed fund focuses on lending to lower middle market companies in the US

CalPERS reveals USD 3.9bn in private credit commitments
Public Pensions, Private Pursuits: CalPERS discloses 3Q24 private credit commitments, invests USD 16.9bn in 2024, and Connecticut, Oregon, Indiana, Texas, Jacksonville make investments   

L Catterton raises USD 450m in first close for debut direct lending fund
EXCLUSIVE: The direct lending arm of L Catterton launched the fund in 2024 and is targeting USD 1bn in commitments.

400 Capital raises USD 1.39bn for oversubscribed asset-based credit strategy
The asset-based credit specialist held a final close for Asset Based Term Fund IV, which surpassed its USD 1bn target

Northleaf raises over USD 1bn for flexible lending strategy
The USD 1bn includes the final close of its fund, Northleaf Private Credit III

Alaska ups private credit co-investing to combat fund fees
The Alaska Permanent Fund Corporation faces fee drag of around 15% for the asset class

Maine, Louisiana, San Jose, Kern County pensions make new private credit investments, plot future moves
Public Pensions, Private Pursuits: Maine PERS to further increase exposure to TPG Angelo Gordon’s direct lending arm