Owl Creek turns heads to special situations with new fund
The firm joins several other distressed investors preparing to take advantage of a potential downturn

Jefferies subsidiary and Stonyrock plan mid-market alternative manager stake acquisitions
The new joint venture will invest in private equity, credit, hedge funds, real estate, venture, and infrastructure firms

Maryland pension carves out private debt bucket
The Baltimore pension fund has also mandated a total of $25 million to one direct lending fund and one distressed debt fund 

Neuberger Berman holds $1.7 billion final close for private credit fund
The strategy more than doubles fundraising for its predecessor fund NB Private Debt Fund II, which closed in October 2017 with $750 million

Texas pension awards $75 million to CLO fund
The new commitment will sit in its strategic credit opportunities bucket

PE firm Veritas turns towards credit opportunities
Veritas Capital Management is yet another manager looking to augment its investment offerings and – like several other private equity houses – the firm has turned towards credit

Madison closes real estate debt fund above $1 billion target size
The New York-based manager now has over $4.5 billion of capital to deploy

Crescent targets $1 billion for US unitranche fund
Crescent Capital has held a first close for its Crescent Private Credit Partners Unitranche Fund

Northleaf raises over $500 million for open-ended private credit fund
Structured as an evergreen fund, Northleaf states that the strategy will “enhance liquidity options compared to traditional private credit fund structures”

Ninepoint teams up with US direct lender for fund launch
The move comes after the Canadian asset manager launched a new trade finance fund earlier this week

Carmignac adds global credit Ucits strategy to its range
The fund will be co-managed by Carignac’s head of credit Pierre Verlé and fixed income fund manager Alexandre Deneuville

Shenkman targets $500 million for opportunistic credit fund
Shenkman’s opportunistic fund will aim to take advantage of the volatility in the market

Church Pension Fund anoints infrastructure debt fund with $40 million
The $13.3 billion pension fund has invested in a fund managed by New Energy Capital

Credit funds at a glance

A round-up of fundraising and people moves in credit

CLOs at a glance
Managers focus on AUM building via new issues

Italian manager launches fund for private debt opportunities
DeA Capital Alternative Funds, an Italian asset manager, has launched an alternatives fund to target global private debt investments, along with investments in private equity and infrastructure  

US pension backs Vista credit fund
Illinois Municipal Retirement Fund (IMRF) has approved a $50 million commitment to Vista Credit Partners Fund III, according to documents from the March board of trustees meeting  

Tetragon raises $430 million for new CLO equity fund
Tetragon Credit Income III closes with total commitments of $430 million

US pension fund earmarks $375 million for various credit strategies
Massachusetts Pension Reserves Investment Management Board (Mass PRIM) has committed $125 million to distressed, $100 million to aviation investments, while earmarking $150 million for structured credit    

Pimco targets securitisation-friendly assets for $1 billion fund
Pimco is winning US pension fund support for a strategy geared towards purchasing what it describes as private credit assets “that have historically been securitised”

Oklahoma pension backs Pimco's evergreen credit fund
Oklahoma Firefighters Pension & Retirement System has decided to commit $75 million to Pimco Private Income Investment Strategy, according to minutes from the US pension fund’s board meeting in January.  

Hartford partners with Schroders to launch securitised credit fund
Hartford Funds has teamed up with Schroders Investment management to offer its investors a new securitised credit fund

Texas pension adds $50 million to distressed separately managed account
The managed account has reached a total of $300 million 

Alaska pension commits $545 million to seven credit funds
Alaska Permanent Fund Corporation has earmarked $545 million to funds across the credit spectrum across Q2, according to 27 February board documentation

Minnesota pension set to back Varde Partners Fund XIII
Minnesota State Board of Investment is considering a $150m commitment to Varde Partners Fund XIII, according to a February Investment Advisory Council (IAC) meeting report