Carlyle performance dips in Q4, but credit teams ride global volatility
Credit fund performance dipped for the Carlyle Group in the fourth quarter, as market volatility and fund outflows put a dent in the industry’s much stronger performance of the previous three quarters

Muzinich poaches Neuberger Berman MD for top fund distribution role
Muzinich has hired a global head of distribution, according to an announcement today, picking up the role previously held by Joshua Hughes, who left for CIFC Asset Management in May

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 

BlackRock becomes latest manager to explore interval fund structure for credit
Several managers have hit the market with the interval fund structure, as investors look to invest in illiquid strategies through an illiquid fund structure

Stifel builds out leveraged finance team with big hire
The new unit will focus on origination, underwriting, and syndication of leveraged loans and high-yield securities

Star names join Barclays as it pushes into CLOs

Neuberger's Dyal acquires minority stake in HPS
Dyal Partners, a division of Neuberger Berman, has acquired a minority equity stake in global credit manager HPS Investment Partners

Michigan pension fund looks to commit $80 million to debt funds
The $114 billion Michigan pension fund is looking to commit to two private debt funds managed by London-based Kreos Capital and New-York headquartered MidOcean Credit Partners

Experienced CSAM holds off boutiques to win biggest prize
Credit Suisse Asset Management became a two-time winner of the Creditflux Manager of the Year award last month after picking up the 2018 trophy in front of a packed house at London’s Landmark Hotel on 9 May

San Francisco pension fund to deploy up to $4.5 billion in private debt
The City and County of San Francisco Employee’s Retirement System has revealed details of its new private debt pacing plan - which will see it deploy up to $4.5 billion and partner with up to 25 private debt managers over the next six years

Carlyle and Oppenheimer opt for interval fund structure as part of JV
The new private credit fund will invest at least 80% across loans and structured credit (Including CLOs), opportunistic credit, direct lending and liquid credit, SEC filings reveal

Canadian pension fund appoints head of credit
Toronto-headquartered Canada Pension Plan Investment Board has appointed John Graham as head of credit investments, effective 1 June 2018

Credit specialist poaches Goldman Sach's Eric Muller in New York
Credit specialist Oak Hill Advisors has hired New York-based Eric Muller from Goldman Sachs Group, according to a market source

KKR considers switching from partnership to corporation
Global investment firm KKR is considering a change to its legal structure, with the firm’s senior management and board of directors currently evaluating whether to convert from a partnership to a corporation, or C-corp

Managers predict skill will win out
We asked managers to predict the year ahead across a range of credit strategies. Overall, they had a positive outlook. By Grace Jennings-Edquist

Goldman Sachs BDC and university endowment extend JV’s investment period
A joint venture between Goldman Sachs BDC and University of California Regents has extended its investment period for two months, regulatory filings show

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Fund platform AMX eyeballs credit funds
Willis Towers Watson’s hedge fund platform has grown to $1.5 billion – and there is space for credit managers  

Things aren’t always what they seem
Buy CLO triple As but don’t be fooled by diversity scores; take a look at credit index futures if you need liquidity; and watch out for quasi-mid market loans appearing in CLOs