LP round-up: $2.6 billion flows into 26 credit managers
A stuck ship in the Suez Canal may have prevented others from getting through one of the world's busiest waterways in March, but allocations to credit funds were much more free flowing as investors poured over $2.6 billion into the hands of credit managers

CVC brings in BlackRock and Park Square private credit pair as partners
CVC has made two senior appointments to its private credit team, including a co-head of private credit

BlackRock co-head of direct lending set to depart
The co-head of direct lending at BlackRock and Tennenbaum Capital Partner’s special situations unit is set to leave the firm by the end of the year

LP round up: $5 billion flows to credit as private market allocations increase
Global institutional investors allocated nearly $5 billion to credit funds this week, according to documents seen by Creditflux

Fund performance: Almost a third of credit funds reach positive YTD returns
July has been a successful month for many credit funds, despite the recovery peaking in May and June

LP round up: horseshoe does the trick for Pimco and other distressed managers
Institutional investors poured $2.7 billion into credit this week through 14 managers, according to board documentation seen by Creditflux

Fitch places five BDCs on negative outlook
Fitch Ratings has changed the outlooks of five business development companies from stable to negative folllowing a review of its rated BDCs

BlackRock hires former KKR official to head European private capital markets
A leveraged finance veteran has joined BlackRock as European head of the firm’s private capital markets business in London, according to an internal memo seen by Creditflux

Real assets are now the top picks in private credit
Direct lending is no longer the darling of the private credit market, with pension funds increasingly making space for credit strategies backed by real assets.

Apollo Global Management ends year with a bang
CLOs returned 8% while direct origination continues to be "rocket fuel", the company said

BlackRock targets €2.5 billion as it completes first close on European mid-market fund
BlackRock European Middle Market Private Debt Fund II, having collected €1.5 billion at first close, is expected to hold a final close in the first half of next year at around €2.5 billion, according to market sources 

BlackRock joins BDCs with increased leverage approval
BlackRock Capital has become the latest business development company to adopt the higher leverage after the Small Business Credit Availability Act was amended last year

UK pension hires BNP Paribas AM for starring role in core-satellite private credit fund
UK pension fund Nest has appointed BNP Paribas Asset Management to run the core of a private credit fund, sources say, in an arrangement which sees Amundi and BlackRock manage certain satellite investments  

San Mateo pension backs BlackRock direct lending fund
San Mateo County Employees' Retirement Association is set to make a commitment of $35 million to BlackRock Direct Lending Fund IX, according to an agenda item document seen by Creditflux.

BlackRock names global alternatives head amid senior leadership shake-up
BlackRock has reshuffled its leadership and made several senior changes across various parts of its business, according to an internal memo seen by Creditflux

New York pension ups commitment to HarbourVest by $400 million
New York State Teachers' Retirement System has topped up commitments to Maple Fund, having already approved $600 million in 2017

Majority of investors seek to increase private credit allocations, BlackRock survey reveals
Over half of investors plan to increase their allocation to private credit in 2019, according to an institutional client rebalancing report published by BlackRock

BlackRock BDC seeks shareholder approval to fast-track leverage increase
BlackRock TCP Capital Corp has become the latest business development company to seek shareholders’ approval to double its use of leverage

BlackRock becomes latest manager to explore interval fund structure for credit
Several managers have hit the market with the interval fund structure, as investors look to invest in illiquid strategies through an illiquid fund structure

Private credit specialist rejoins Ares in Los Angeles
Ares Capital Management has appointed managing director Michael Zugay to its private credit team in Los Angeles 

Benefit Street Partners taps Monroe and BlackRock for private debt origination hires
Benefit Street Partners has made two senior appointments to its private debt origination team

BlackRock completes Tennenbaum acquisition
Global asset manager BlackRock has completed the previously announced acquisition of Tenenbaum Capital Partners

BlackRock holds €1.1 billion final close for inaugural mid market fund
BlackRock has held a €1.1 billion close for its inaugural middle market private debt fund – exceeding its initial €750 million target.

BlackRock expands US private debt capabilities with TCP acquisition
BlackRock has agreed to acquire $9 billion asset manager Tennenbaum Capital Partners