Japanese bank SMBC launches first private credit fund
Sumitomo Mitsui Banking Corporation has launched its first private credit fund with EUR 450m in investable capital

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

Blackstone reports 18% return from private credit over last 12 months
Blackstone's private credit and liquid credit returns outperform private equity investments in the last 12 months

Lloyds Bank joins forces with Oaktree for European direct lending platform
Lloyds Bank and Oaktree Capital Management have formed a new multi-year European direct lending facility

M&A activity on fire in private credit despite overall M&A slowdown
The M&A market has had a rough time in the past 12 to 18 months, but there’s one area that’s bucking the trend: private credit

Alternative PE lending puts pressure on LP-GP alignment
Loans that use fund NAV or GP earnings as collateral are growing in popularity. But some feel these deals could have unforeseen effects and hinder transparency in LP relationships

Credit funds at a glance
Top indices; recent hires; recent fundraising

Oak Hill teams up with One Investment for European private credit
US-based Oak Hill and One Investment ink JV with USD 5bn to invest in upper middle market and large European companies 

French asset manager launches impact credit fund for European SMEs
 A Paris-headquartered alternative asset manager held the first close of its SME-focused direct lending fund at EUR 200m

Nordic private credit fund raises EUR 500m
Ture Invest Partners has held the final close of the third vintage of its private credit fund having reached its target at roughly EUR 500m

New direct lending business formed after management buyout
503 Capital Partners, a new direct lending business, has been formed as part of a management buyout of Tortoise Capital Advisor's private credit arm

Funds roundup: June 2024
Private credit funds keep getting larger — some reaching billion-dollar status — while demand for niche solutions, such as interval funds and special situations, continues to escalate

Cheyne Capital hires head of origination
Cheyne Capital Management has hired a new managing director, head of origination and trading, for the firm's strategic value credit unit

New Mexico pension system allocates USD 200m to specialty finance
The new commitment is the latest in a string of investments in private credit from the New Mexico State Investment Council, totaling hundreds of millions of dollars

French investment firm closes sixth private debt fund with EUR 2.5bn in commitments
French private investment firm Capza held a final close of its sixth private debt fund, with commitments 50% greater than the size of the previous vintage

NorthWall surpasses expectations for European credit opportunities fund with EUR 640m
London-based credit specialist NorthWall Capital held the final close of the second iteration of its flagship European opportunistic private credit strategy

European credit specialist raises EUR 1.8bn for private debt fund
New senior debt strategy invests exclusively in first lien secured loans and will target lower middle market European companies

BlackRock hires Goldman Sachs alumni for senior private debt role
BlackRock has hired a former Goldman Sachs veteran as co-head of private debt origination in France and head of origination in Spain

Funds round up: May 2024
The demand for SRT strategies and special situations funds are on the uptick, as is the demand for managers and funds outside of North America. 

Pennsylvania retirement system allocates to European private credit
The Pennsylvania Public School Employees' Retirement System recently revealed a fresh commitment for hundreds of millions of dollars to European private credit. 

Gravis Capital prepares to launch inaugural private credit fund
Gravis Capital is preparing to launch its first private credit fund with a EUR 500m-equivalent target size

Hayfin raising new direct lending fund while narrowing potential buyer list
Hayfin Capital Management is fundraising a new European direct lending fund even as the UK asset manager narrows down a list of potential acquirers to buy the firm

Corinthia eyes mid-June start
Corinthia Global Management, the start-up firm that’s shaking up the USD 1.7trn private credit space, is laying the foundations for mid-June market entrance

Boutique London manager holds first close on direct lending fund
London-based alternative investment manager Prefequity revealed the first close of its Prefequity Credit Opportunities II fund 

Fidelity U-turns on European direct lending strategy as it ditches origination in favour of third-party partnerships
Fidelity International is cutting its direct lending division in Europe, and will instead partner with third parties to offer private credit solutions going forward