Texas pension awards $250 million to US lending fund
Texas County & District Retirement System has awarded $250 million to a special situations fund managed by Silver Point Capital. The commitment will sit in its direct lending bucket

Texas pension awards $150 million to first distressed debt commitment this year
Texas County & District Retirement System (TCDRS) has awarded $150 million to global distressed debt fund, Davidson Kempner Long-Term Distressed Opportunities Fund V

Boston-based pension backs Searchlight distressed fund
Cambridge Retirement System, the $1.27 billion pension fund, has committed $150 million to Searchlight Capital Partners III during the second semester of 2019, according to documents seen by Creditflux.  

CIFC preps inaugural distressed debt fund
The New York-based firm is the latest in a line of managers to have begun fundraising for an inaugural distressed debt fund

Sound Point swaps evergreen fund for drawdown
Sound Point Capital Management is dropping its evergreen distressed debt fund in favour of a vehicle that will employ a drawdown structure, as is customary for distressed strategies.

BlackRock launches $2 billion coporate credit fund with special situations remit
BlackRock has closed its flagship opportunistic credit fund, Global Credit Opportunities, with $2 billion capital commitments

Utah fund set to invest $45 million across Beach Point and Crestline funds
The Utah School & Institutional Trust Fund Office is set to make commitments to credit funds managed by Beach Point Capital Management and Crestline Investors

PennantPark raises $750 million for direct lending and opportunistic credit
PennantPark Investment Advisers has raised $750 million across four vehicles, according to an announcement

Rhode Island pension backs Clearlake credit fund
Rhode Island Employees Retirement Systems Pooled Trust is set to commit $30 million to Clearlake Opportunities Partners II, according to documents from an investment commission meeting seen by Creditflux  

CVC closes $1.4 bilion special situations fund
CVC Credit Partners has held a final close at $1.42 billion for its second global special situations fund, which it says took eight months to fundraise.

Ares brings in $1 billion for first credit special situations fund
The Los-Angeles based manager is now just over halfway to its $2 billion target size

HIG closes European small-cap special situations fund at $1.5 billion
HIG's distressed debt and special situations unit has closed held a final close for H.I.G. Bayside Loan Opportunity Fund V

Cheyne aims to capitalise on stress within direct lending as it closes €1 billion opportunistic fund
The fund seeks to capitalise on the accelerated sell-down of mid-market corporate loans by European banks

Cairn teams with Mediobanca for European credit Ucits fund
The strategy will focus on four credit asset classes - financials, corporates, asset-backed securities and special opportunities 

Bain plans $3 billion distressed fund with US pension fund eyeing commitment
Pennsylvania Public School Employees Retirement System (PSERS) is set to invest $200 million to Bain Capital Distressed and Special Situations 2019 (DSS 19) fund, according to documents seen by Creditflux.  

Connecticut pension eyes investment in Clearlake fund
The State of Connecticut Retirement Plans and Trust Fund is considering a $75 million commitment to Clearlake Opportunities Partners II  

Managers look east as Asian credit fundraising takes off
Several asset managers have outlined plans for growth in Asia as one of their foremost priorities this year.

Pemberton closes strategic credit opportunity strategy at €1 billion
Pemberton has closed its first fund dedicated to strategic credit opportunities today

Investors plant GoldenTree distressed debt fund with $1.7 billion
GoldenTree Asset Management has closed its third distressed fund with $1.7 billion of capital

Clearlake casts $1 billion net for second opportunistic fund
The Santa Monica based firm has upped the target size for its opportunistic credit, distressed and structured equity fund  

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 

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

Credit funds at a glance

A round-up of fundraising and people moves in credit