Carlyle closes private business development company at $1.9 billion
Carlyle Group has closed its second business development company, TCG BDC II, raising a total of $1.9 billion

Texas pension awards $500 million to European direct lending managed account
This is the largest investment to credit that the $30 billion pension fund has made

Invesco unveils "belt and road" debt fund
Invesco has unveiled a new fixed-income Ucits strategy that aims to capture investment opportunities driven by China’s “Belt and Road” initiative

Värde raises $400 million for Asia credit fund
Värde Partners has closed its inaugural Asia-focused fund at $400 million - six months after launching

Golub Capital BDC looks to become fourth largest publicy traded BDC with merger
Golub Capital is seeking approval from its shareholders to merge its Golub Capital business development company (GBDC)  with another one of its business development companies, Golub Capital Investment Corporation (GCIC)

Neiman Marcus loan slumps amid debt restructuring talks
The luxury fashion retailer’s $2.95 billion cov-lite term loan B, due October 2020, traded down 1.65%, according to IHS Markit 

Crescent lands in US direct lending for second time with $1.6 billion fund
Crescent Capital exceeded its $1 billion target size, hitting $1.6 billion for its second US direct lending fund

Varagon boosts healthcare expansion with New York hire
The middle market lender continues its efforts in the sector, following the opening of a new healthcare-focused Chicago office

Owl Rock rakes in $1.53 billion for tech-focused BDC
Owl Rock Capital is spreading its fundraising wings, with the New York-based manager raising at least $1.53 billion for its technology-focused business development company

Monroe launches $1.33 billion US direct lending fund
With leverage, Monroe Capital will have more than $2.5 billion of capital available for investments

Tikehau fund edges towards €1.6 billion close with €75 million EIB commitment
The European Investment Bank has approved a €75 million commitment to Tikehau Investment Management

Recent CLO debutant Vista brings in GSO official to lead credit team
Vista Credit Partners has hired a former GSO official to lead its credit team

Missouri pension plan seeks alternatives consultant
The $8.2 billion Missouri State Employees’ Retirement System (MOSERS) is seeking an alternative investment consultants

Crestline holds $600 million final close for PE-focused financing fund
The new fund will provide financing to private equity funds post their investment period, allowing them to provide follow-on growth capital to portfolio companies or additional liquidity 

Finnish foundation seeks alternatives manager
Turku 2029 foundation, a recently created Finnish foundation based in the city of Turku, has issued a notice seeking a manager for its €8m alternatives investments, in a bid to diversify its portfolio.  

Tikehau’s private debt AUM hits €7.5 billion
Tikehau Capital, the Paris-based asset management and investment firm, has reached €7.5 billion in private debt assets under management (AUM) as of September 2018. This represents an increase of 17% for the third quarter, amounting to €1.1 billion  

ICG hits €4 billion target for European private debt fund
Intermediate Capital Group has hit its €4 billion fundraising target for its seventh European private debt fund, according to the firm’s semi-annual results

Regulators suggest clampdown on UK loans
The Bank of England recently raised alarms about the state of the UK leveraged loan market, drawing parallels to the growth of the US sub-prime mortgage market

Managers see growth in distressed and direct lending, but structured credit splits opinion
The private credit industry remains on track to grow to $1 trillion assets under management by 2020, according to joint research published by the Alterative Credit Council and law firm Dechert with allocations to distressed and mid-market deals tipped to rise. But structured credit has divided US and European managers

Muzinich's Italian arm launches novel direct lending fund
Sources say that Muzinich will build a truly diverse loan portfolio for its Italian direct lending fund

Ares ups its target for US senior direct lending growth to $4.7 billion
Following $5 billion of inflows into global direct lending in the third quarter, Ares has upped the target for its US direct lending strategy 

Tikehau pairs with Groupama for French and European SME debt fund
The new vehicle is anchored by European Investment Fund 

US pension commits $100 million to Apollo's hybrid private credit/private equity fund
Pennsylvania State Employees’ Retirement System has mandated $100 million to a multi-strategy fund managed by New York-based Apollo Global Management

Blackstone grows credit assets by 31% over year
The firm achieved strong fundraising in credit, taking credit-related assets under managment to $130.6 billion in the third quarter, a 31% increase year-on-year 

Ellington teams up with Princeton to launch opportunistic credit interval fund
Ellington Management has teamed up with Princeton Fund Advisors to launch an opportunistic credit interval fund