Funds roundup: June 2024
Private credit funds keep getting larger — some reaching billion-dollar status — while demand for niche solutions, such as interval funds and special situations, continues to escalate

Australia’s $4tn retirement funds pour into private credit to capitalise on steady returns
Funds that make up one of the world’s largest pools of cash are allocating to private credit

Carlyle direct lending origination head jumps to Apollo
The head of origination and sponsor coverage for Carlyle’s direct lending business has joined Apollo, becoming the latest in a string of executives exiting the alternative asset manager

ORIX USA realigns private credit business with addition of BlackRock exec to team
ORIX Corporation USA has hired a BlackRock alumni as group head of direct lending, as the asset manager revamps its private credit business

Cresset teams up with ORIX's NXT for direct lending partnership
Cresset will provide the capital from its USD 500m private credit fund in exchange for access to NXT's origination machine

Ohio pension system allocates USD 100m to private credit
The Ohio Police & Fire Pension Fund has approved two new commitments to private credit totalling USD 100m 

Ares receives another USD 100m for its third direct lending fund
Ares Management continues to inch towards its goal of raising USD 10bn for its third senior direct lending fund with a recent commitment from a pension fund.

Pengana launches private credit platform aimed at retail investors
Sydney-headquartered money manager Pengana Capital Group has launched a new private credit platform

Stifel and Lord Abbett form joint venture for private credit
SBLA Private Credit is the latest example of investment banks and asset managers teaming up for a slice of the USD 1.7tn private credit market.

MidOcean Partners closes USD 765m opportunistic credit fund
MidOcean's latest direct lending strategy focuses on lending to mid-sized stressed, distressed and dislocated performing businesses.

SFERS commits another USD 75m to private credit
The San Francisco City & County Employees' Retirement System's latest commitment to private credit comes in the form of a USD 75m allocation

Indian manager raises nearly INR 25.75bn for credit opportunities fund
A Mumbai-based manager held a final close on its new special sits fund with INR 25.75bn raised

StepStone launches private credit interval fund
New evergreen fund from StepStone is available to both individual and institutional investors  

BlackRock hires from Jefferies to lead private credit push in Southeast Asia
BlackRock continues to build out its private credit teams outside of North America with the addition of a new senior-level hire in Asia

Golub signs strategic partnership with Nassau Financial Group
The private credit manager announced the partnership with Nassau Financial Group, including an investment of USD 200m in equity into Nassau's insurance arm

Funds round up: May 2024
The demand for SRT strategies and special situations funds are on the uptick, as is the demand for managers and funds outside of North America. 

Paul Hastings taps nine attorneys from King & Spalding team
Paul Hastings has upped the ante on its expansion plans in the world of private credit and restructuring by hiring nine seasoned attorneys from King & Spalding

Pennsylvania retirement system allocates to European private credit
The Pennsylvania Public School Employees' Retirement System recently revealed a fresh commitment for hundreds of millions of dollars to European private credit. 

Dechert hires Fried Frank private credit lawyer
Dechert has hired a private credit and funds formation expert as a partner in the firm's financial services practice group

Boutique London manager holds first close on direct lending fund
London-based alternative investment manager Prefequity revealed the first close of its Prefequity Credit Opportunities II fund 

Private credit veteran returns to Barings
Barings is rebuilding its private credit team with the return of a veteran private credit alumni as a managing director in its global private finance group

Alliance Bernstein grows alternatives business
AllianceBernstein continues to expand its alternatives business with the launch of a new BDC, as well as a further push into strategies such as energy transition, asset-based lending and opportunistic credit

Raymond James and Eldridge Industries launch private credit platform
Raymond James and Eldridge Industries are the lastest additions to the growing list of traditional banks and asset managers teaming up to expand their private credit platforms

Avenue Capital raises billion dollar European special situations fund
New York-headquartered Avenue Capital Group held the final close of a new European special situations fund with more than USD 1bn in commitments

Golub raises USD 2bn for sixth credit opportunities fund
Golub Capital has held the final close of the sixth vintage of its credit opportunities fund, raising USD 2bn