PAG raises USD 1.25bn for significant risk transfers
The Hong Kong-based alternative asset manager is expecting the SRT market to grow at a 30% to 40% rate annually over the next few years

DE Shaw closes on USD 1bn opportunistic credit fund
Alkali Fund VI is a closed-end fund targeting opportunistic investments across corporate debt, structured credit, synthetic securitization and other specialty investments

Chorus Capital raises USD 2.5bn for SRT strategy
Chorus Capital has closed a USD 2.5bn SRT fund that could be the largest ever in the space

Credit funds at a glance
Credit funds at a glance

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. 

Canadian hedge fund Polar closes SRT fund with USD 300m
Polar Asset Management Partners attracted USD 300m from investors as the Toronto-based hedge fund ramps up a dedicated fund for significant risk transfer, or SRT

Funds round up: April 2024
Allocations to private credit and new fund launches continued to roll out in April, as our monthly round-up confirms

AXA wins USD 400m for SRT strategy from US pension fund
The growing global demand for SRT transactions was confirmed yesterday with an announcement from AXA IM Alts that it had been awarded a USD 400m investment mandate from a US pension fund

MGG raises more than USD 400m in first close of lower middle market fund
MGG Investment Group has filed the first close on its MGG Structured Solutions Fund II, offering capital solutions to non-sponsor backed companies

Credit funds at a glance
Fund performance, fund raising and LP commitments

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

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

Credit funds at a glance (November 2022)
A round up of fundraising and people moves in credit

Sona rolls out event-driven and bespoke financing fund to US investors
Sona Asset Management is courting investors in the US for its second capital solutions strategy, having filed an offering of the fund with the Securities & Exchange Commission

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.

Credit PM pair seek galaxy of opportunities with long/short fund manager launch
Two experienced portfolio managers have set up a new venture to take advantage of volatile markets

Algebris adds second PM in two months to credit opportunities team
Algebris Investments has hired a co-portfolio manager for its Global Credit Opportunities strategies

Muzinich targets high income with new flexible credit fund
Muzinich & Co has launched Muzinich Dynamic Credit Income Fund, which it says is “designed for investors seeking outperformance in rising credit markets without taking excessive risks”

Top macro credit PM will fly solo with fund launch
A new credit investment firm could soon be in the offing, following the departure of Alberto Gallo from Algebris Investments in April, suggest market sources

Infrastructure manager targets €1 billion for eclectic mix of project finance debt and SRTs
A Copenhagen-based firm is launching its first credit fund and has partnered with an SRT specialist in London for a component of its potential €1 billion offering  

Past form points to bleak picture for IG fund flows as new covid variant emerges: BofA
With a new covid-19 variant for investors to worry about, faltering high grade fund flows face additional headwinds versus high yield and government bonds

Points up front: Definitely not an ex-parrot
One of the biggest credit fund launches last month was Arini, led by star credit trader Hamza Lemssouguer  

Lazard targets IG, crossover and HY in long/short credit ucits fund
Lazard Asset Management has unveiled a new credit ucits fund that will invest primarily in investment grade, crossover and high yield bonds in Europe and North America

Squarepoint takes over from CSAM as it supports star trader's new long-short credit fund
Arini, led by highly regarded former Credit Suisse trader Hamza Lemssouguer, has found support in Squarepoint Capital as it launches its first European credit fund

Lord Abbett prepares special situations interval fund
Lord Abbett is preparing to launch a new special situations fund in the form of an interval fund