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

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

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  

Banner Ridge holds first close for special situations fund that’s targeting 750m
EXCLUSIVE: The firm is fundraising for its third fund in the series that is set to have a final close early next year

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

Alcentra raises over USD 1bn to invest in third-party as well as own CLOs
The funding will invest in CLO mezz and equity through the firm’s third-party CLO tranche investing platform and for its own issuance in Europe

Centerbridge launches new distressed debt fund targeting around USD 4bn
EXCLUSIVE: The Washington State Investment Board looks to come back as an investor in Centerbridge’s fifth special situation funds that’s looking to raise USD 4bn 

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

Wellington Management raises USD 194m for inaugural captive CLO fund
The established CLO investor will use the fund to primarily invest in equity tranches of its own US BSL CLOs

Neuberger Berman raises USD 1.6bn for asset-based finance
The majority of investors from the predecessor fund committed capital to the latest Fund III

Oaktree lowered its distressed debt fundraise to USD 16bn
The market and investment environment for distressed debt shifted, and investors asked whether the original target was too big.

Invesco closes fundraising for flagship direct lending with USD 1.4bn
Direct Lending Fund II will pursue senior secured loan investments in the middle market