Patrimonium holds first close for two European direct lending funds
Direct lender Patrimonium Asset Management has held a first close for two of its direct lending funds, Creditflux has learned.

London pension funds pick CQS as first manager for new credit fund of fund
London Collective Investment Vehicle (London CIV), a fund for London pension funds, has announced the launch of its first fixed income offering – LCIV MAC fund

Hermes launches £185 million unconstrained credit fund
London-based Hermes Investment Management has launched a new Ucits-compliant unconstrained credit fund - which will include pricing ESG risks

Patrimonium set to launch two European direct lending funds
Direct lender Patrimonium Asset Management is launching two new direct lending funds – with both funds anticipated to hold first closes at around €150 million in the coming week, according to market sources

HSBC asset management unit raises $800 million for global multi-manager loan fund
As a multi-manager fund,  the new vehicle aims to offer the benefits of fund-of-funds - diversification - but with a management fee comparable to a single manager 

SME lender ESO expands into Germany
London-based ESO Capital, a lender to European SMEs, has opened a new Frankfurt office – which it says signals its commitment to German-speaking countries

Cerberus agrees to acquire €1.1 billion NPL portfolio from AIB
Allied Irish Bank has agreed to sell a €1.1 billion NPL portfolio to a consortium led by distressed debt specialist Cerberus 

GoldenTree grows third distressed debt fund to $600 million
New York-based GoldenTree Asset Management has raised nearly $600 million for its third distressed debt fund – just over a quarter of its target size

Investec unveils unconstrained global credit fund for UK investors
“In a world of rising interest rates, and with the accompanying increase in volatility", Investec has launched a replica of its Investec Global Total Credit Fund - this time for UK investors

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

Madrid manager holds €50 million first close for sponsorless lending fund
Sponsorless investing proves popular with investors, as Trea holds a €50 million first close for its second direct lending fund - two months after launching 

Ares emerges as favourite to take over troubled direct lending fund
Following Oaktree’s wind-down request, the board of the Ranger Direct Lending Fund has chosen Ares as replacement manager - moves which could see the fund change its focus from peer-to-peer loan investments to asset-backed loans

BNPP AM produces its own Novo loan fund to target French mid market firms
BNP Paribas Asset Management has launched a new business loan fund, BNP Paribas Novo 2018, backed by the French Insurance Federation and French public sector investment fund.  

Ares targets €4.5 billion for fourth European direct lending fund
Los Angeles based Ares Capital Management has launched its fourth European direct lending fund, Ares Capital Europe IV, with a €4.5 billion target size, SEC filings show

Investcorp names new co-CEO
Alterative investment manager Investcorp has announced that Hazem Ben-Gacem will become co-chief executive officer, joining current co-CEO Rishi Kapoor

Oaktree raises at least $2.1 billion for second real estate debt fund
Los-Angeles Oaktree Capital Management has beaten its original $1.75 billion target size for Oaktree Real Estate Debt Fund II, US SEC filings reveal

Tikehau raises over €200 million for French loan fund
Paris-based Tikehau has launched its latest Novo fund, which is endorsed by the French Insurance Federation

Zencap looks to raise €200 million for its third infra debt fund
French alternative investment boutique Zencap Asset Management is launching its third senior infra debt fund with a €200 million first close target, the firm announced on Friday.

Amundi begins marketing European loan fund
Paris-headquartered Amundi has launched a loan fund targeting LBO-related opportunities

Dutch manager NN Investment Partners hires JP Morgan debt strategist
NN Investment Partners hires JP Morgan’s Yvette Babb as portfolio manager in its emerging market debt business

French manager liquidates share class on €167.2 million corporate credit fund
A Paris-based manager has jettisoned a share class on a €167.2 million corporate credit fund that invests in bonds, credit default swaps, shares and share options

German firm holds first close of direct lending fund at €300 million
Frankfurt-based Rantum Capital has launched a second subordinated loan fund, a direct lending strategy called Rantum Private Debt Fund II

Man Group's assets surge 3% in first quarter as the hedge fund hits $112.7 billion
Man Group, the world’s largest listed hedge fund, has reported a 3% rise in total assets in first quarter 2018 despite a weaker market for equities and momentum strategies

Securitisation lawyer joins Ashurst from rival firm Clifford Chance
International law firm Ashurst has hired Thomas Picton as a securitisation partner in its London securities and derivatives group