John Hancock and Marathon join forces on ABL fund with structured credit bucket
John Hancock Investment Management has teamed up with Marathon Asset Management for an asset-based lending fund, which can invest a portion of capital in liquid structured credit such as CLOs

Credit funds at a glance (June 2022)
A round up of fundraising and people moves in credit  

Arcmont says liquid loan opportunities depend on timing as it advocates direct lending instead
Arcmont Asset Management has made the case for direct lending over syndicated loans in a white paper, despite having being an admirer of CLO management platforms 

LP round up: 28 credit managers win $6.6 billion as San Diego carves private credit allocation
Pensions allocated over $6.6 billion to credit managers in June including Angelo Gordon, Antares, Apollo, Ares, Beach Point, BioPharma, Brookfield, CarVal, Cerberus...

Antares looks to support underrepresented groups with $1 million entrepreneur programme
Antares is granting $1 million of its own capital to entrepreneurs who are part of diverse and historically underrepresented groups

Credit funds at a glance (June 2022)
A round up of fundraising and people moves in credit
 
   

Franklin Templeton buys Alcentra in $700 million deal
Franklin Templeton has agreed to buy BNY Mellon’s $38 billion credit unit Alcentra, which will see Alcentra combined with Franklin Templeton’s US credit manager Benefit Street Partners

Fidelity International makes senior direct lending hires in private credit push
Fidelity International has been staffing up in European direct lending, with 12 additions to the private credit team that was established a year ago

Credit funds at a glance (May 2022)
A round up of fundraising and people moves in credit
   

Dispersion begets dispersion in mixed bag of fund returns
Idiosyncratic risks are set to rise in credit, with fund managers becoming occupied with tail risks, and that has been seen in a scattered set of March hedge fund returns

Z Capital makes three senior leveraged credit hires including CLO specialists
Z Capital Credit has hired three directors to its investment team

Credit funds at a glance (April 2022)
A round up of fundraising and people moves in credit  

StepStone sets out new path with Mexican securitisation
StepStone Group says its securitisation of private credit opportunities for Mexican investors has left a template for other managers to follow.

GoldenTree sprouts up in North Carolina
GoldenTree Asset Management has opened a new office in Charlotte

Trade finance specialist sentenced to 12 years in prison for CLO and fund fraud
David Hu, the former chief investment officer of International Investment Group, has been sentenced to 12 years in prison for his role in running a “Ponzi-like scheme”, which included using a CLO to create fraudulent loans.  

MidOcean announces promotions in credit business
Two portfolio managers are among those to earn promotion at MidOcean Partners 

Chicago pension seeks private credit manager
Direct lending, structured credit, distressed/special situations, specialty finance, and multi-strategy funds will be considered

MKP partner joins Orchard in new global distribution role
Orchard Global Asset Management has hired an experienced figure from MKP Capital in the newly created role of global head of distribution and investor relations

LP round up: Fidelity wins big, Pacific retains loan mandate, pensions eye distressed
The month also included one CLO fund commitment, one high yield manager search, one finalised US loans mandate and one $400 million multi-sector fixed income managed account mandate

Spac pricing hints at Sound Point's growth ambitions in loan market
Sound Point Acquisition Corp has priced a $225 million IPO, signalling that credit asset manager Sound Point Capital Management is looking to expand its platform

Credit funds at a glance (March 2022)
A round up of fundraising and people moves in credit

AB targets software companies after niche securitisation
Deutsche Bank priced an unusual securitisation for AB last month. The deal accommodates the manager’s expertise in the software and technology sector

Churchill names Wells Fargo official to newly created head of fund finance role
Churchill Asset Management has created the new role of head of fund finance to help it utilise leverage strategically across its fund strategies

LP round up: two CLO funds win support as Cali pensions home in on private credit
Two investors revealed allocations to European and US CLO funds, private credit allocations increases and private credit consultant searches get underway