Atalaya hits $1 billion hard cap on private credit fund with 10-13% return target
Atalaya Capital Management has hit its $1 billion hard cap on its private credit speciality finance fund, Asset Income Fund V

First Eagle targets $1 billion for direct lending
First Eagle is targeting a $1 billion fundraise for First Eagle Direct Lending Fund V

Golub follows Sixth Street by suing Dyal over Owl Rock merger
Dyal Capital’s merger with Owl Rock faces growing opposition with Golub Capital filing a lawsuit

ESG growth in CLOs has momentum in 2021, say JPM strategists
ESG investing in securitised products such as CLOs have 'momentum for growth in 2021' despite very slow volume growth and lack of progress in standardised scoring over the past year, say JP Morgan strategists in a research note

Europe resumes rally in US absence with Italian spreads hitting new records
Caution about a possible Draghi bubble looks to be a rare commodity, as Italy sovereign and bank spreads are once again among the biggest improvers in a buoyant start to the week

It's all relative: CLO spreads explore record tights as credit indices hit impasse
CLO spreads are grinding to ever tighter levels, despite a flattish week for credit in which corporate credit indices have ended up more or less unchanged

Bardin Hill closes opportunistic credit fund with $600 million in commitments
Bardin Hill Investment Partners has closed a commingled fund, Bardin Hill Opportunistic Credit Fund, as well as a sidecar strategy, with around $600 million of commitments

It's all relative: CLOs are lagging no more, as Carlyle deal drags market tighter
“CLOs are lagging” has been a much repeated refrain over the last nine months. But Carlyle Group has this week produced a US CLO that has dragged spreads to their tightest point in three years so that, rather than comparing CLOs to pre-covid levels, they should be assessed against early 2018

PennantPark keeps up fundraising pace with new credit opps strategy
PennantPark Investment Advisers has held a final close for its US middle market opportunistic credit strategy, PennantPark Credit Opportunities Fund III

Credit funds at a glance: several funds post double digit November returns
November was a strong month for credit hedge funds listed by Creditflux, with latest returns demonstrating the effect of the vaccine/US election rally on fund perfomance

Kennedy Lewis raises $2.1 billion opportunistic credit fund
Kennedy Lewis Investment Management has closed a second middle market opportunistic credit fund at $2.1 billion, more than doubling its initial $1 billion target

Loomis Sayles promotes official to structured credit portfolio manager
The Boston based official will co-manage the Loomis Sayles Investment Grade Securitised Credit strategy with Alessandro Pagani, head of the $30.4 billion mortgage and structured finance team

Alcentra co-CIO for liquid credit set to leave this month
A high profile figure in the US CLO business is leaving Alcentra

TIG delves into Asian credit following minority investment in Arkkan
New York-based asset manager TIG Advisors has bought a minority equity stake in Hong Kong-based alternative asset manager Arkkan Capital

Los Angeles manager raises $600 million for CLO equity strategy
Kayne Anderson has held a final close for its latest CLO equity fund with over $600 million investable capital

LP round-up: investors gift private debt and leveraged loan RFPs over holiday season
2020 ended on a strong note with four institutional investors increasing asset allocation to private debt or initiating private debt and leveraged loan searches. ArrowMark, Banner Ridge, BBAM, HIG Whitehorse, Monroe and Rialto were also awarded mandates

Sagard holds $650 million first close on second non-sponsored private credit fund
Sagard Credit Partners has held a $650 million first close on its second vintage credit fund, Sagard Credit Partners II. The vehicle has a $1.3 billion hard cap

Brookfield holds $2.7 billion final close on second infrastructure debt fund
Brookfield Asset Management has held a $2.7 billion final close on its second infrastructure debt fund, Brookfield Infrastructure Debt Fund II, exceeding its $1.7 billion initial target

Dyal and Owl Rock in talks over merger via spac - a year after Dyal buys into direct lender
Dyal Capital Partners and Owl Rock Capital Group (a company in which it has an ownership stake) are in talks to merge courtesy of a spac which is sponsored by an affiliate of HPS (another company which Dyal has a minority equity stake)

Mariner spin-out hires private debt specialist as CIO
Newmarket, which focuses on environmental and social themes, has appointed a CIO from a consultancy firm

Citadel PM joins hedge fund manager as global head of credit
A Citadel portfolio manager and former BlueMountain Capital Management partner has taken a top credit role at a fund manager

FS and KKR to merge BDCs to create $14.9 billion vehicle
FS Investments and KKR plan to merge their two business development companies into a single vehicle which would have about $14.9 billion in assets

Monroe sets $1.5 billion target for fourth lower mid-market direct lending fund
The Chicago-headquartered manager is targeting $1.5 billion for Monroe Capital Private Credit Fund IV. The vehicle held a $276.2 million first close last month

Bridge builds $1.5 billion real estate debt fund
Bridge Investment Group is targeting $1.5 billion for its fourth dedicated commingled closed-end US real estate debt fund

GSO to rebrand as Blackstone Credit
GSO Capital Partners, the credit management arm of the Blackstone Group, is set to rebrand itself as Blackstone Credit