Cerberus racks up $4.4 billion for US direct lending strategy
Cerberus Capital Management has held a final close of its latest US mid-market direct lending fund, Cerberus Levered Loan Opportunities Fund IV 

HIG Bayside closes $1.4 billion US distressed debt and special sits fund
HIG Bayside Capital, the distressed debt and special situation arm of HIG Capital, has held a $1.4 billion final close on its HIG Bayside Loan Opportunity Fund VI

Atalaya hits $1 billion hard cap on private credit fund with 10-13% return target
Atalaya Capital Management has hit its $1 billion hard cap on its private credit speciality finance fund, Asset Income Fund V

First Eagle targets $1 billion for direct lending
First Eagle is targeting a $1 billion fundraise for First Eagle Direct Lending Fund V

‍Saudi Arabia's PIF becomes latest sovereign wealth fund to target direct lending
‍Saudi Arabia’s Public Investment Fund has become the latest sovereign wealth fund to enter the direct lending space, anchoring a Shariah compliant private credit fund managed by NBK Capital Partners

Manager beats "more than 30" to partner with Zurich Invest for European direct lending
A UK-based fund manager has beaten off competition to land a partnership with Zurich Invest

LP round up: Dutch pensions put €1.3 billion into infra debt
Institutional investors allocated over $2 billion to credit funds in January. Opportunistic credit funds were a favourite but the biggest moves came in infrastructure debt

Credit Rendezvous: heading for homes
Fund managers in structured credit, real assets and distressed are bullish on the prospects for residential housing in 2021. Elsewhere, niche royalty-based strategies are in favour and although a CLO repricing wave is expected, it may not be easy to execute resets. For more, read our 13-page quarterly report on credit. 

UK pension seeks direct lending manager for £250 million commitment
Essex Pension Fund has issued a request for proposals to allocate up to £250 million to a direct lending fund

LP round-up: investors gift private debt and leveraged loan RFPs over holiday season
2020 ended on a strong note with four institutional investors increasing asset allocation to private debt or initiating private debt and leveraged loan searches. ArrowMark, Banner Ridge, BBAM, HIG Whitehorse, Monroe and Rialto were also awarded mandates

LP round up: pensions plan private credit pacing as strategic credit takes on "midfield" role
US pensions have allocated $1.4 billion across 22 credit funds including those managed by Angelo Gordon, Ares and GoldenTree, according to recent board documents seen by Creditflux. Meanwhile a pension fund draws parallels between strategic credit and Jordan Henderson

LP round up: Arcmont, Ares and Sixth Street win European direct lending mandates
Investors have allocated around $2 billion to credit funds in recent weeks, according to board documentation seen by Creditflux. Among those to recieve allocations include ADM, Arcmont, Ares, Audax, Bain, Centerbridge, Clearlake, Goldman Sachs merchant banking,  Invesco, Monarch, Oaktree, Raven, Sixth Street and Sound Mark

LP round up: Monroe and Angelo Gordon beat 25 for direct lending mandate, as private credit plans brew
US public pension funds have disclosed $1.2 billion in commitments to credit focused strategies

Direct lender Scio names three-person advisory board
Scio Capital, a London-based direct lender, has named three people to its newly-founded advisory board

LP round up: $2.8 billion flows to credit as Apollo concedes fundraising may slow
Florida Retirement System Trust Fund made the largest commitments allocating $1.6 billion. Apollo meanwhile acknowledged a potential slowdown in fundraising as investors await results on an independent review into CEO Leon Black's relationship with Jeffrey Epstein

Low rates drive US pension towards private credit
The Iowa Public Employees’ Retirement System is one of several pensions to have increased private credit allocation recently, from 3% to 8% (around $1.7 billion)

Direct lending green shoots flourish despite fundraising plunge
Despite the headline figures, sources say European direct lending fundraising remains healthy and newcomers have a place to enter

LP round up: EIF backs four debt funds while Carlyle wins $1 billion
Institutional investors have allocated just over $4 billion to 27 credit managers in October board meetings

Sovereign wealth funds empower direct lenders
Sovereign wealth funds are turning toward the booming private credit market, with three massive partnerships formed this year

Owl Rock recieves $1 billion allocation from California pension
Owl Rock Capital has recieved a $1 billion allocation from the California State Teachers' Retirement System. The mandate will fund Owl Rock's opportunistic credit and diversified lending investments

LP round up: $5 billion flows to credit as private market allocations increase
Global institutional investors allocated nearly $5 billion to credit funds this week, according to documents seen by Creditflux

Barings inks partnership with Mubadala for European mid-market platform
Barings has teamed up with Abu Dhabi state fund Mubadala Investment Company to launch a new European middle market origination platform named Barings Mubadala Enterprise

US investors piled into structured credit and private lending in 2019, Gapstow finds
US institutional investors' allocations to 'alternative credit' increased 12% year-over-year in 2019, according to research by fund of funds manager Gapstow Capital Partners

LP round up: private credit drive gains momentum as Calpers backs Pimco
Private credit continues to be viewed as an attractive investment strategy for institutional investors, with four global allocators outlining new buckets, or increases to the asset class

CSAM strikes private credit partnership with Qatar Investment Authority
Credit Suisse Asset Management has signalled a big push into private credit, striking a direct lending partnership with its Quatari-based stakeholder Qatar Investment Authority