Oaktree raises new special situations fund while CIO warns of direct lending risk
Oaktree Capital Management has released its second quarter 2018 results in which the Los Angeles-based firm reported $2.4 billion of new capital commitments in the quarter

Californian pension fund assigns $25 million to Monroe direct lending strategy
As part of its private credit pacing plan, the $5.4 billion pension fund will make a $75 million commitment to direct lending funds each year for the next three years

GSO managing director set to join Platinum to build new credit unit
Platinum Equity has appointed Michael Fabiano to build out a new credit unit to complement the firm’s existing equity platform. He will join in January 2019 and will be based in New York

Texas pension fund earmarks $650 million to four private debt funds
Angelo Gordon, HIG Whitehorse and Värde have secured commitments from the Texas pension fund for their direct lending funds

Pacific Current acquires stake in Chicago-based private debt manager
Sydney-headquartered Pacific Current Group has acquired a 24.9% stake in Chicago-based Victory Park Capital

BlackRock seeks $1 billion for new multi-strat opportunities fund
The new trust will invest at least 80% of its assets in fixed income securities and up to 40% in special situations, SEC filings reveal 

Michigan pension fund looks to commit $80 million to debt funds
The $114 billion Michigan pension fund is looking to commit to two private debt funds managed by London-based Kreos Capital and New-York headquartered MidOcean Credit Partners

Pennsylvania pension awards $50 million to distressed debt fund
The $27.5 billion Pennsylvania pension fund has made a further $50 million commitment to TPG Sixth Street Partners 

Invesco raises $150 million for distressed debt fund
The vehicle, which has a $500 million target size, has raised a total of $146.18 million capital commitments, according to SEC filings

TPG credit fund edges nearer $3 billion final after $150 million pension mandate
TPG Sixth Street Partners, the credit arm of private equity giant TPG, has been awarded $150 million for TSSP Opportunities Partners IV

Credit interval funds thrive as investors value liquidity profile
“The interval fund structure’s time has come," says BlueBay's Blair Reid

Brantwood looks to launch credit special situation fund via online portal
Houston-based Brantwood Energy Partners is looking to raise capital for its energy credit special situations fund, picking a Canadian online portal to support fundraising efforts

65% of distressed managers plan new funds over the next year, survey finds
Distressed debt is proving to be a popular strategy for managers, with 65% intending to launch a distressed strategy in the next 12 months, according to a report by Creditflux’s sister publication Debtwire and law firm Ropes & Gray.     

Massachusetts pension fund invests $75 million with TowerBrook
Mass PRIM) has made a $75 million commitment to New-York based TowerBrook Capital Partners for its second structured opportunities fund, according to 15 May board documentation

Former Credit Suisse credit heads raise over $400 million for new fund
New York-based Arbour Lane Capital Management has raised just over $400 million for its second credit opportunities fund in less than a year, according to US SEC filings

Silver Rock raises $1 billion for opportunistic credit fund
Los Angeles based Silver Rock Financial has raised just over $1 billion for its opportunistic credit fund, according to US SEC filings.

San Francisco pension fund to deploy up to $4.5 billion in private debt
The City and County of San Francisco Employee’s Retirement System has revealed details of its new private debt pacing plan - which will see it deploy up to $4.5 billion and partner with up to 25 private debt managers over the next six years

Pension fund ups commitment to TPG special situations fund by $150 million
Kern County has upped its commitment to TSSP Adjacent Opportunities Contingent Fund, managed by TPG’s special situations platform TPG Sixth Street Partners, 9 May board documents reveal. 

Destra and BlueBay team up to launch credit interval fund
Destra has become the latest manager to launch an interval fund - Destra International & Event-Driven Credit Fund - which will focus on two strategies: multi-strategy international credit  and event driven credit. 

Kirkland brings in Bain lawyer as partner
Global law firm Kirkland & Ellis has added Bain Capital's in-house counsel Ranesh Ramanathan as corporate partner

Atalaya closes $900 million credit fund at its hard cap
Atalaya Capital Management has held a final close for its fourth income fund – Asset Income Fund IV (AIF IV) – at its $900 million hard cap, exceeding its $750 million target size 

Louisiana pension fund commits $75 million to new Oaktree fund
The Teachers Retirement System of Louisiana (TRSL) has made a $75 million commitment to distressed debt manager Oaktree, a spokesperson for the $9.5 billion pension fund confirmed

Sound Point wins $125 million mandate for strategic credit fund
Sound Point Capital Management has won a $125 million mandate for its Strategic Capital Fund, which will provide liquidity solutions to US stressed and distressed companies 

Courage braves credit market to launch new distressed debt fund
Courage Capital Management has launched its fourth credit opportunities fund, according to US SEC filings

Distressed debt specialist closes $727 million credit fund
Balbec Capital has announced the final close of InSolve Global Credit Fund III with $727 million capital commitments