CFA warns of conflicts of interest in continuation funds
The growing popularity of continuation funds has raised questions around manager processes, the CFA Institute said

BC Partners LPs roll into third unitranche-focused private debt fund
The latest Great Lakes III fund kicked off its investment period and began deploying capital on 1 August, the company said.

Man Group to acquire CLO and private credit manager Bardin Hill
The USD 3bn credit manager, now named Bardin Hill, is a private credit and US CLO shop based in New York

Investcorp passes halfway mark on second GP stakes fund
EXCLUSIVE: USD 600m raised to date against USD 1bn target of a strategy that was launched in 2019 and focuses on mid-market

Invesco closes fundraising for flagship direct lending with USD 1.4bn
Direct Lending Fund II will pursue senior secured loan investments in the middle market

Blue Owl raises more than USD 2bn for evergreen direct lending strategy
Blue Owl has raised more than USD 2bn for its sophomore direct lending fund that focuses on senior, first-lien loans

Carlyle’s AlpInvest and Mubadala establish fund financing partnership
Carlyle Group subsidiary AlpInvest Partners and Mubadala have set up a new credit co-investment partnership to provide portfolio senior fund financing on a global basis  

Pantheon raises USD 1.19bn for latest private credit secondaries fund
Pantheon has raised USD 1.19bn in its latest fundraising for Pantheon Senior Debt Secondaries III, to invest in the private debt secondaries space

Evolution hires new managing director from JP Morgan
Evolution Credit Partners has added a managing director on the investment team, helping grow the Boston-headquartered firm's working capital finance and leveraged finance businesses

Pantheon brings private credit secondaries to the masses
Pantheon Group has launched a new evergreen private credit secondaries fund aimed at the US private wealth market

Large LPs turn to net asset value tools to finance private equity portfolios
NAV financing has a long history as a tool for private equity managers to get new capital into older funds, but now interest from creative institutional investors is widening its appeal.

Stonepeak hires veteran investor to expand credit team
Stonepeak, an asset manager specializing in infrastructure, announced that Michael Leitner has joined the firm as a senior managing director.

PGIM buys majority stake in direct lender Deerpath
PGIM has bought a majority interest in direct lending firm Deerpath Capital Management

Fund performance: European CLO funds lead the way
February was a positive month for many funds, as only one quarter failed to reach the black. This builds off a stellar start to the year: 96% of funds reached a positive return in January

Carlyle appoint former Goldman executive as CEO
Carlyle Group have appointed former Goldman Sachs Co-President and CO-Chief Operating Officer Harvey Schwartz as Chief Executive Officer and a member of the board, the firm has announced.

Audax raises $3 billion for unitranche direct lending fund
With leverage, the fund has around $4.5 billion total investable capital

Calpers allocates $2.75 billion to two credit managers
US pension heavyweight California Public Employees Retirement System earmarked $3 billion to credit funds in the third quarter of 2022, according to recent board materials 

Franklin Templeton and Benefit Street launch credit interval fund
The pair have launched a multi-strategy credit interval fund named Franklin BSP Private Credit Fund, which will invest across US private credit

MUFG welcomes two senior originators to new US direct lending team
Mitsubishi UFJ Financial Group has made two senior appointments to its new direct lending business

First Eagle wraps up fundraising for $1 billion direct lending fund
The strategy will target 6-9% net internal rate of return for its unlevered sleeve and 8-11% net IRR of return for its levered sleeve

Pantheon exceeds $500 million target for second private debt secondaries fund
Pantheon has held a final close of its second private debt secondaries fund, Pantheon Senior Debt II, at $834 million

Medley and former CEOs pay $10 million to settle SEC charges over AUM misrepresentation
The respondents have agreed to pay $10 million in civil penalties, without admitting or denying the findings

Monroe collects $4.8 billion for fourth US direct lending fund
Monroe Capital has closed its latest US direct lending fund with $4.8 billion of investable capital, which includes $2.3 billion in commitments, $1.1 billion of leverage and $1.4 billion from managed accounts

LP round up: Oak Hill wins $3bn mandate as credit allocations near $10bn in March
Institutional investors revealed over $9.5 billion of allocations to credit funds in March. Oak Hill Advisors walked away with the largest mandate, as US heavyweight pension Calpers allocated a whopping $3 billion across several of its funds

Crestline collects $3.6 billion across three private credit fund closes
The Fort Worth, Texas-based manager has closed its fourth opportunistic credit fund, third direct lending fund and second portfolio financing fund