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

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

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 

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.

Oaktree Closes on USD 16bn for distressed debt strategy
Oaktree Opportunities Fund XII just edges out its predecessor fund, which closed in 2021 with USD 15.9bn in commitments  

Francisco Partners closes USD 3.3bn opportunistic credit
Francisco Partners has raised an opportunistic credit fund that exceeded its 2.3bn target

Special situations funds shift from distressed debt to flexible, all-weather capital strategies
As struggling companies turn to liability management techniques to gain the upper hand against lenders, a new bankruptcy-lite environment is forcing funds to play across the capital stack 

European direct lending firms raise record funds in third quarter
European direct lending fundraising jumped up a notch last month, as year-to-date figures almost doubled in a few final closes

Monarch raises USD 4.7bn for 6th credit opportunity fund
Monarch Capital Partners VI follows a “distress for control” strategy with a focus on corporate credit in North America and Europe

Vector launches special situations private credit fund
A San Francisco-based private equity firm has launched a new private credit special situations fund, and is aiming to raise USD 300m

Connecticut pension allocates USD 300m to Oaktree’s distressed credit fundraising
Connecticut pension system commits to Oaktree latest flagship distressed credit fund

Dallas retirement system allocates USD 60m to credit funds
The Dallas Employees' Retirement Fund has allocated USD 60m to three separate credit funds as the Texas-based system grows its allocations to private credit and distressed debt

Blackstone sets sights on USD 10bn for opportunistic private credit fund
Blackstone will soon introduce the latest version of its opportunistic private credit fund, aiming to raise USD 10bn, Michael Chae, the firm's chief financial officer, told analysts 

Oaktree raises roughly USD 3bn for third special situations fund
Oaktree upsizes third fund that primarily invests in stressed or distressed US middle-market companies

Florida pension system allocates to three alternative funds
Three funds received commitments from the City of Hollywood Employees' Retirement Fund including an opportunistic credit fund and a direct lending fund

Seattle retirement systems commits USD 30m to distressed fund
The Seattle City Employees' Retirement System recently committed up to USD 30m to the Monarch Capital Partners VI fund

New Mexico sovereign wealth fund commits USD 250m to distressed fund
The New Mexico State Investment Council approved a commitment of up to USD 250m to a distressed opportunities fund during its 24 October meeting.

New Hampshire retirement system commits to opportunistic debt fund
The New Hampshire Retirement System unanimously agreed to commit USD 50m to the distressed debt fund

Oak Hill raises USD 2.3bn for distressed fund
Oak Hill Advisors secured USD 2.3bn in equity commitments during the final close of its distressed investment fund, the OHA Strategic Credit Fund III

Illinois Municipal Retirement Fund sinks hundreds of millions into credit funds

The Illinois Municipal Retirement Fund has invested more than half a billion dollars into several credit and direct lending funds

Global investment firm closes fund with $3 billion in capital commitments

Global investment firm closes fund with $3 billion in capital commitments, focusing on opportunistic investing. 

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

LP round up: HPS wins $550m mandate as Ares launches third US direct lending fund
US institutional investors allocated nearly $3 billion to credit funds in April. The news comes amid a BlackRock survey in the month which showed significant investor interest in private credit

Diameter closes second dislocation fund at $2.2 billion hard cap
Diameter Capital Partners has closed its second dislocation fund with $2.2 billion commitments