Ares strategy ‘links investing to purpose’ with 5-10% of profits donated to charity
Joel Holsinger at Ares Management has a proposition for investors: “We’ll make the same types of investments we’ve made historically for you, and we’ll contribute 5% to 10% of our profits to charity.”

Credit hedge funds
Credit hedge fund performance for July 2024

Silver Point raises USD 4.6bn for opportunistic credit fund
It isn't just direct lending raising big checks. Silver Point blew past its target to bring in USD 4.6bn for a new distressed fund.

Apollo eyes IG private debt trading
Apollo Global Management is looking to create a trading desk for investment grade private debt

Corinthia Global Management eyes deployment in 4Q24
The upstart direct lender sued for lifting more than 20 staff from Barings is preparing to begin deploying capital as it announces a flurry of senior appointments

Park Square raises EUR 3.4bn for direct lending strategy
Park Square continued its long standing partnership with SMBC as the cornerstone of a Eureopan direct lending fundraise

Public Pensions, Private Pursuits: 26th-30th August 2024
Pennsylvania, New Mexico and Illinois reveal private credit investments, while the Texas and Arizona systems plot moves

Ares scoops up Riverside Credit Solutions for undisclosed amount
Ares Management has completed the purchase of lower middle market specialist Riverside Credit Solutions

Antares pursues private credit fund for affluent individuals
Antares has filed for a non-listed BDC that targests affulent individal investors for private credit

Comvest reshuffles credit leadership as Falk steps back
Michael Falk, Comvest Credit Partners' co-founder and chief executive officer, has now assumed the role of executive chairman

New Mexico pension system allocates USD 150m to private credit
The New Mexico State Investment Council is diversifying its European exposure with a new private credit fund commitment

Temasek raises USD 1.3bn for Asian private credit fund
Temasek's SeaTown Private Credit Fund II, which focuses on performing credit opportunities in the Asian Pacific, has closed

White Oak expands ABL unit with addition of new managing director
White Oak hires Matthew DeBernardo to help generate new business across the US in asset-based lending and factory facilities   

HighVista aims for USD 500m for third private credit fund
HighVista raised USD 78m as the Boston-based alternative asset manager targets USD 500m for its third private credit fund 

Paul Hastings hires partner from Simpson Thacher & Bartlett
New York-based Ismael Duran will join the Paul Hastings’s finance and private credit practices from Simpson Thacher & Barlett 

Churchill raises more than USD 350m for junior capital debt fund
Churchhill Asset Management raised funds for junior capital direct lending to sponsor-backed US companies

Davis Polk hires three fund formation lawyers from Debevoise
Law firm Davis Polk is growing its investment management practice with the addition of three new partners joining in New York

Non-bank venture debt lenders see increase in deals after tough 2023
Venture debt is making a comeback. In the first half of 2023, following the collapse of Silicon Valley Bank (SVB), the volume of deals was just USD 3.5bn

Search for diversification begins as direct lenders predict uptick in defaults
Amid the buzz of private credit there are doubts, as headwinds have caused the market to become cautious as competition increases.

Guardian transfers USD 30bn of assets to HPS as partnership deepens
Insurance company Guardian will increase its minority equity stake in HPS and transfer USD 30bn of assets as part of expanded strategic partnership 

Blue Owl raises USD 400m in 12 months for direct lending fund
New York-based Blue Owl Capital has now raised approximately USD 1.9bn to date for a diversified lending fund, including USD 400m in the last 12 months

Public Pensions, Private Pursuits: 5th-9th July 2024
Florida, Wisconsin, and Vermont pension systems disclosed new private credit commitments, while the New York State (NYS), New Mexico, and Alameda County, California funds planned future mandates

German manager launches two new private credit fund-of-funds
YIELCO Investments, a German alternative asset manager, is planning a 2024 first close for two newly launched private debt fund-of-funds

Ares closes USD 34bn senior direct lending fund
Ares has closed what could be the largest direct lending fund ever with nearly USD 34bn raised, including USD 15.3bn in equity commitments