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 

SRT market grows to EUR 18.5bn of junior tranches in 2023
Banks executed 89 synthetic securitizations for SRT globally in 2023, according to the IACPM’s latest synthetic securitization survey

John Hancock launches multi-asset credit interval fund
A new fund, managed by affiliate Manulife | CQS, will invest in multi-asset credit strategies and fixed-income asset classes  

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.

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

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

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

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

Sound Point readies third special sits fund
Sound Point Capital Management plans to launch its third special situations private credit fund during the fourth quarter of this year

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

Canadian hedge fund Polar closes SRT fund with USD 300m
Polar Asset Management Partners attracted USD 300m from investors as the Toronto-based hedge fund ramps up a dedicated fund for significant risk transfer, or SRT

BlackRock expands investment grade private credit team
BlackRock has hired a senior executive from Pacific Life to lead the firm’s investment grade private placement platform

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

CLO funds maintain strong start to 2024 to stay top year to date
The first quarter of 2024 has been a memorable one for CLO funds, as the category continues its dominant spell, claiming 7 of the top 10 spots in March

New Mountain Capital BDC raises nearly USD 860m
New York-based alternative asset manager New Mountain Capital has held close of its New Mountain Guardian IV BDC 

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

Funds round up: April 2024
Allocations to private credit and new fund launches continued to roll out in April, as our monthly round-up confirms

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

Golub hires from MetLife for new insurance solutions team
Golub Capital has launched a new insurance solutions team, as the firm continues its multi-year plan to build out its investor partners group

US pension fund makes fresh USD 250m allocation to private credit
A US pension system has recently disclosed hundreds of millions of commitments to alternative funds, including USD 250m for private credit