LP round-up: Champaign pension raises a glass (or bucket) to private credit
Institutional investors allocated over $600 million to 11 managers this week, according to board documentation seen by Creditflux

KKR raises $4 billion for coronavirus dislocation credit strategy
KKR has collected $4 billion to invest across credit opportunities in eight weeks– including $2.8 billion in its KKR Dislocation Opportunities Fund and over $1.1 billion from managed accounts

KKR takes covid-19 hit on flagship credit funds and lev fin
KKR took a 16% hit to returns on its alternative credit flagship funds amid the first quarter coronavirus downturn and a 13% loss on leveraged credit, taking these into negative territory for the last 12 months. The firm's private equity portfolio also slumped by 12%

KKR deploys 10% of $2 billion coronavirus dislocation credit fund
KKR Credit has plans to launch a $2 billion dislocated corporate and asset backed credit fund to take advantage of coronavirus-induced volatility. And the New York-based manager has wasted no time swooping on opportunities after deploying $212 million by 9 April

Fitch places five BDCs on negative outlook
Fitch Ratings has changed the outlooks of five business development companies from stable to negative folllowing a review of its rated BDCs

CLOs nurse $172 million of Quorum's debt following bankruptcy - but recovery prospects look good
CLOs hold $172.9 million of the debt of US hospital operator Qurum Health Corporation, which filed for Chapter 11 in the US Bankruptcy Court for the District of Delaware last week

Asset manager takes new approach with special sits fund as co-head leaves
A large global asset manager is looking to allocate to junior debt in performing comapnies after parting ways with the co-head of its special situations business

BlackRock hires former KKR official to head European private capital markets
A leveraged finance veteran has joined BlackRock as European head of the firm’s private capital markets business in London, according to an internal memo seen by Creditflux

KKR closes $1.3 billion global impact fund
KKR has made a final close of its KKR Global Impact Fund SCSp at $1.3 billion  

KKR bolsters global impact team
Investment firm KKR has appointed two senior professionals within its global impact team, as it looks to strengthen its geographic reach and local impact  

PE firms take hands-on approach to syndication
European private equity firms are building out their debt capital market capabilities in a move which could radically improve information flow.

KKR adds CLO mezz and private credit to mix with opportunistic credit fund
The new interval fund will invest in opportunistic credit, including CLO mezzanine debt, as well as private debt 

ICG adds managing director to DACH subordinated debt and equity team
The new hire will be based in Frankfurt and adds to others the firm has made this year in the region

Credit plays a big part as KKR increases AUM by $6.5 billion
KKR grew its assets under management by 8% over the second quarter, according to the firm’s earnings call, which took place on Thursday.

Pimco hires ex-KKR official to lead corporate special situations unit
Pimco has appointed a former KKR official to lead the firm’s corporate special situation unit

FS and KKR create $9 billion publicly-listed BDC with four-way merger
The move would create the second largest BDC by assets under management

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.

Former KKR pair resurface with new direct lending business
KKR's former global co-head of mezzanine and European head of private credit has reunited with his former colleague to launch a London-based direct lending business

KKR promotes three European credit specialists to managing directors
KKR has promoted several members of its team to managing directors - including a former US CLO portfolio manager

Pensions pile in as KKR sets $2 billion direct lending fund target
KKR Credit has raised at least $1.6 billion for its third US direct lending fund, according to US regulatory filings.

Kartesia invests in equity of 2018 European CLO
Kartesia has invested in the equity of KKR’s latest European CLO 

KKR and Schroders back €1 billion Dutch direct lending fund
Neos, a Dutch direct lending firm, has held a €1 billion close on its Dutch and German direct lending joint venture

Credit drives strong returns for five of the largest asset managers in the business
Carlyle is close to hitting its ambitious fundraising target; direct lending has been kind to Ares; and Och-Ziff has decided to shed its US CLO risk retention stakes after exiting its financing agreements

KKR forms lending JV to target "clear need for UK mainstream housing development"
KKR and London-based Urban Exposure, a specialist residential development finance provider, have formed a strategic partnership and launched a lending joint venture to target significant opportunities in "mainstream housing throughout the UK”.  

Texas pension fund puts $150 million into credit
A $29.7 billion pension fund has approved commitments to two credit fund managers