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 

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

KSL holds $671 million close for second travel and leisure credit fund
KSL Capital Partners has held a final close for its second credit fund with $671 million in capital commitments

Carlyle lands acquisition of $5.6 billion Apollo Aviation
The Carlyle Group has expanded its asset-based credit offerings with the acquisition of Apollo Aviation Group 

Varagon opens Chicago office to focus on healthcare and hires three
Varagon Capital Partners has built out its platform with the opening of a Chicago office to focus on healthcare finance opportunities, hiring a team of three to lead the healthcare effort

Los Angeles pension fund looks for direct lender to take on $670 million mandate
The $16.9 billion pension fund approved a new asset allocation in April this year and is now issuing a private credit mandate for 3.75% its total fund assets 

Sagard exceeds $500 million target for debut credit fund
Sagard Holdings, the investment platform of Power Corporation of Canada, has already raised more than $545 million for its inaugural credit fund

BDCs find variety of routes to higher leverage but remain cautious of two-times limit
Business development companies have been granted flexibility by US regulators, but there seems to be little consensus on the best way to take advantage

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

39% of private debt investors are underweight, but they're looking for opportunities
485 Investors have come together to reveal their thoughts about allocation, in a survey conducted by London-based investment consultant bfinance

Goodhart unveils new platform to invest in private debt and equity firms
London-based Goodhart Partners has launched a new platform to focus on strategic minority investments, predominantly in private debt and private equity firms.

HarbourVest adds managing director to growing US private credit team
HarbourVest Partners has bolstered its private credit team with the addition of Karen Simeone, who joins as managing director

White Oak raises $2.1 billion for US sponsorless direct lending strategy
White Oak Global Advisors has held a final close for its direct lending strategy, White Oak Yield Spectrum Fund, with $2.1 billion of capital commitments 

Alcentra forms $1 billion strategic partnership with SME loans specialist Funding Circle
Fixed income specialist Alcentra has bolstered its US direct lending capabilities and formed a strategic partnership with Funding Circle

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

Four private credit managers score as Arizona pension fund commits $250 million
The $9.78 billion pension fund has mandated nearly $250 million to four private credit managers, alongside additional commitments for co-investment opportunities 

Distressed debt outperforms as Texas pension fund's credit strategies gain 11.2%
Texas County and District Retirement System (TCDRS), the $30 billion pension fund, generated 11.2% annualised returns from its credit portfolio for the year ending 30 June. Distressed debt was a major positive, but IG credit lost value

Californian pension fund commits $25 million to new US direct lending fund
A $3.01 billion pension fund has invested $25 million to a US direct lending fund managed by Twin Brook Capital Partners 

US pension fund's new private credit portfolio delivers strong early returns
A US pension fund recently created a private credit bucket and this has generated 9.25% time-weighted returns

GSO registers new direct lending fund after going solo
After its partnership with FS Investments reached an end, GSO Capital Partners has registered a new direct lending fund with US regulators

Maine pension bolsters private credit allocation with $100 million mandate
The pension fund mandated $100 million to a US direct lending firm, after it was underweight its 5% target allocation to alternative credit 

Goldman's BDC receives 95% shareholder approval for leverage increase
Following recent regulatory changes, the $1.23 billion Goldman Sachs BDC has received a 95% shareholder approval to raise its debt to equity ratio from a one-to-one to a two-to-one ratio

Credit drives strong returns for five of the largest asset managers in the business
Carlyle is close to hitting its ambitious fundraising target; direct lending has been kind to Ares; and Och-Ziff has decided to shed its US CLO risk retention stakes after exiting its financing agreements