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

400 holds $430 million final close on opportunistic structured credit fund
400 Asset Based Term Fund II will invest across structured credit including special situations, risk-transfers, and liquidity premium opportunities in the primary and secondary markets

Credit fundraising: November marks turning point as fund launches spike
November was always set to be an important month as the world awaited the US election outcome and the results of covid-19 vaccine trials. This did nothing to slow down fund managers as 14 funds launched, up from only four funds launching in September and five in October

LP round up: Monroe and Angelo Gordon beat 25 for direct lending mandate, as private credit plans brew
US public pension funds have disclosed $1.2 billion in commitments to credit focused strategies

Indiana pension allocates $160 million to CLO dislocation strategy and real estate debt
Indiana Public Retirement System has allocated $160 million to two credit funds focused on CLOa and real estate debt, according to recently released board documentation

Colorado pension allocates $70 million to CLO debt strategy
Colorado Fire & Police Pension Association approved a $70 million commitment to a CLO debt strategy at its 5 November board meeting

LP round up: $2.8 billion flows to credit as Apollo concedes fundraising may slow
Florida Retirement System Trust Fund made the largest commitments allocating $1.6 billion. Apollo meanwhile acknowledged a potential slowdown in fundraising as investors await results on an independent review into CEO Leon Black's relationship with Jeffrey Epstein

Credit funds at a glance (November 2020)
A round-up of fundraising and people moves

CLO ETFs take off after market passes covid-19 liquidity test
The launch of the first CLO exchange-traded funds in recent weeks marks a turning point for the CLO industry, with senior tranches starting to be viewed as a liquid alternative to corporate credit

Credit fundraising: Dubai manager gets in on the act as direct lending takes off
Shuaa launches credit fund in the Gulf as Ares, Contingency, HPS and Perceptive are among those to close billion-plus funds

New York pension allocates $250 million to CLO fund
New York State Common Retirement Fund has allocated $250 million to a CLO-focused vehicle, according to a recently released September transaction report

Stepstone subsidiary raises $35 million private markets fund for high net worth individuals
Conversus has closed an inaugural private markets fund, Conversus StepStone Private Markets, at $35 million

CSAM closes its first-ever commingled CLO equity focused fund
Credit Suisse Asset Management has completed the final close of its inauguarl commingled fund geared towards CLOs

Credit funds at a glance (October 2020)
A round-up of fundraising and people moves

Credit fundraising: managers build homes for real estate credit funds
The “largest ever real estate credit fund” was one of the fundraising highlights last month as Blackstone’s Real Estate Debt Strategies IV fund reached $8 billion on its final close

Pearl Diver collects $400 million for CLO fund
CLO investor Pearl Diver Capital has finalised fundraising for its latest CLO fund at $400 million, exceeding an initial $300 million target size

Aegon targets ABS for new fund
Aegon Asset Management says it has launched a global ABS fund with a return target of Euribor plus 500 basis points

LP round up: $5 billion flows to credit as private market allocations increase
Global institutional investors allocated nearly $5 billion to credit funds this week, according to documents seen by Creditflux

Barings and PGIM win loan and structured credit mandates as pension puts £2.7bn in credit
The firms will manage global syndicated loans, securitised credit, emerging market debt and global high yield credit for Border to Coast Pension Partnership's £2.7 billion ($3.43 billion) multi-asset credit fund 

Manager holds first close on debut control US CLO equity fund
A $3.1 billion manager is on the fundraising trail for its debut CLO equity fund, after holding a first close from internal capital earlier this year

Palm Lane launches credit relative value fund with $200 million after PM hires
Palm Lane Capital has raised about $200 million for a global credit relative value hedge fund, which went live on 1 September

Onex prepares structured credit fund after making big CLO hire
Onex Credit Partners has launched a new structured credit offering, Onex Structured Credit Opportunities Fund, four months after hiring structured credit veteran Ronnie Jaber

Would-be CLO managers change tack to distressed
Institutional investors are allocating to distressed debt at a record rate, leading some first-time CLO managers to adjust their business plans

Credit funds at a glance (September 2020)
A round-up of fundraising and people moves

Credit fundraising: distressed keeps in favour but CLO ETFs emerge
Five months into global lockdown and distressed debt funds are still proving popular, but several managers have found success pitching other types of credit strategies