Private credit managers consider smaller fund targets
ANALYSIS: Some private credit managers are considering a smaller fundraise, bucking the convention of always aiming for bigger funds 

HPS deal is expensive but catapults BlackRock into private credit top five
BlackRock is poised to become one of the largest private credit managers in the world after agreeing to buy private credit manager HPS Investment Partners at a rich 30x multiple

BlackRock acquires HPS in USD 12bn deal
BlackRock has acquired HPS Investment Partners for USD 12bn in an all-stock transaction, creating a private credit franchise with a combined USD 220bn in client assets

Guardian transfers USD 30bn of assets to HPS as partnership deepens
Insurance company Guardian will increase its minority equity stake in HPS and transfer USD 30bn of assets as part of expanded strategic partnership 

HPS closes one of the largest direct lending funds ever
HPS held the final close of its Specialty Loan Fund VI, or SLF VI, together with parallel funds and accounts, having raised USD 21.1bn in investable capital

New Mexico State Investment Council plans to commit $600 million to private credit
New Mexico State Investment Council commits $600 million to two private credit managers during June meeting. 

HPS announces close for second core senior lending fund
HPS Investment Partners has closed its second Core Senior Lending Fund known as CSL II with around $10 billion of capital to invest

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

HPS raises $12 billion for fifth junior capital fund
HPS Investment Partners has closed its fifth junior capital solutions fund, HPS Strategic Investment Partners V, at $12 billion. With leverage, the strategy has $17 billion investable capital

LP round up: 27 managers find the top corner with investor wins
Credit fund managers like to take it one fund at a time and give it 110% for their 90-minute investor fund pitches - and it's working as $3.8 billion was allocated during November and early December. The gaffer would be proud. 

LP round up: two managers terminated as 20 win $2.5 billion
US institutional investors allocated over $2.5 billion to 20 credit managers in October, according to documents seen by Creditflux. Two credit fund managers however were terminated in the month

LP round up: $2.7bn flows to 20 credit managers as investors battle PE overallocation
Investors faced huge headwinds in September with inflation, rising interest rates, and geopolitical turmoil, alongside the UK gilts sell-off at month end

LP round up: private credit takes big slice of inflows as 10% portfolio share projected for 2026
Institutional investors revealed nearly $4 billion allocations to credit funds in July, with recipients including Angelo Gordon, Apollo, Ares, BlackRock, Brookfield, CarVal, Comvest, Deerpath, KKR, Schroders and Sixth Street

HPS launches sixth direct lending fund
The firm's previous fund in the series closed in September with over $15 billion of investable capital

Credit funds at a glance (August 2022)
A round up of fundraising and people moves in credit
   

Five credit managers win nearly $1 billion from UK pension pool
Five private credit funds emerged as winners after UK pension pool Border to Coast revealed $1 billion in a wide variety of private credit commitments

Credit funds at a glance (April 2022)
A round up of fundraising and people moves in credit  

LP round up: Fidelity wins big, Pacific retains loan mandate, pensions eye distressed
The month also included one CLO fund commitment, one high yield manager search, one finalised US loans mandate and one $400 million multi-sector fixed income managed account mandate

Credit funds at a glance (February 2022)
A round up of fundraising and people moves in credit

HPS reveals private credit-focused non-traded BDC
HPS Investment Partners has become the latest manager to launch a public, non-traded business development company

Credit funds at a glance (January 2022)
A round up of fundraising and people moves in credit

Credit Fundraising: mega funds contribute to record-breaking month as volume hits $39bn
The sheer size of the funds raised in November more than compensated for a drop in the number of funds raised as fundraising volume in credit reached $38.9 billion. This beat September by $2.4 billion to make it the most productive month of credit fundraising in 2021

LP round up: CLO fund included in whopping $13 billion of credit allocations in November
Credit took centre stage in November as investors allocated over $13 billion to credit funds in the month, with one pension allocating $50 million for a European CLO risk retention fund 

HPS among winners as Texas pension reveals $725 million allocation to credit
Texas County District & Retirement System has revealed over $700 million in allocations to credit funds it made in October and November - including $400 million to a HPS managed account

HPS targets $9.5 billion for fifth mezzanine debt fund
HPS Investment Partners is targeting $9.5 billion for its fifth global mezzanine debt fund, HPS Strategic Investment Partners V - but unlike earlier vintages, HPS says it will not target opportunities within the upstream energy space