Texas manager hires Lone Star’s Stahl as MD for distressed credit
Texas-based real estate private equity firm Pennybacker Capital has appointed a new managing director of distressed credit and special situations

Brigade co-founder to leave the firm
Brigade Capital Management's co-founder Pat Kelly is leaving the firm, according to market sources

Highland expands institutional business team with two new hires
Dallas-headquartered Highland Capital Management today announced the hire of two institutional business development professionals, who have joined in anticipation of increased opportunities in distressed credit

Caryle's debut credit opportunities fund nets more than $1 billion
Carlyle Group has held a first close for its first credit opportunities fund at more than $1 billion, according to media reports – not bad for a vehicle formed last year

Angelo Gordon hires new global distressed debt head from GSO
New York-based Angelo, Gordon & Co has appointed Ryan Mollett as global head of distressed debt 

Crestline targets up to $500 million for new portfolio financing fund
Credit specialist Crestline Investors is launching a new fund to provide financing solutions to mature private equity funds, according to documents seen by Creditflux

CEO of Blackstone's hedge fund solution platform steps aside
Blackstone has announced that J Tomilson Hill, president and chief executive officer of Blackstone Alternative Asset Management (BAAM), will be transitioning to a new role as chairman of BAAM

US manager looks to build concentrated portfolio with for $400 million fund
As Sound Point Capital prepares for the launch of its Strategic Capital Fund, the New York debt shop has revealed it has over $200 million soft circled out of a total targeted fundraise of $400 million

BTIG bolsters New York credit team with four hires
Global financial services firm BTIG has announced several hires to strengthen its fixed income credit team, with the professionals joining from UBS, Seaport, Jefferies and Stifel

Seasoned credit fund manager rejoins Marathon in New York
A credit specialist has completed a circuit, returning to Marathon Asset Management after nearly 12 years away

Carlyle's head of origination for credit earns promotion to partner
Carlyle Group has announced 58 senior promotions across all its global offices: eight to partner, 19 to managing director and 31 to principal/director

Oak Hill promotes three to partner
Oak Hill Advisors has promoted three managing directors to the position of partner, according to market sources

Massachusetts pension fund awards $275 million to credit managers
Massachusetts Pension Reserves Investment Management Board (PRIM) has mandated up to $275 million to private credit funds, according to board documents seen by Creditflux

US law firm hires head of distressed debt practice
Chicago-based law firm Katten Muchin Rosenman has hired a new head of its distressed debt and claims trading practice

Japanese internet and telco giant SoftBank completes Fortress acquisition
Japan’s SoftBank Group Corp has completed the previously announced acquisition of Fortress Investment Group for $3.3 billion in cash

Maryland pension poised to invest $150 million with Minnesota manager
The Maryland State Retirement and Pension System has committed to invest $150 million with the Castlelake V fund, a market source confirms

Managers line up behind tighter guidelines for drawdown funds
Six months after new guidelines were released over the use of subscription lines of credit for private equity-style funds, the aftershocks have been less dramatic than some credit managers expected

Retail sector ailments could easily turn into pandemic
Credit’s retail malady is infectious and uncontainable as retailers face up to obsolete business models

LeggMason subsidiary's double-fund fixed income liquidation draws to a close
Two funds run by LeggMason subsidiary EnTrustPermal with a fixed income focus are in the process of liquidating – and US SEC filings suggest the process is about to draw to a close

BlueBay joins credit interval fund rush
London-based manager could be first to launch interval fund based on mainly non-US credit

Manager edges closer to its $3 billion hard cap on credit fund
A California pension fund has approved a commitment for up to $30 million in a credit and distressed debt fund

Manager raises $120 million for European credit opps fund to launch in Q4
A London-based alternative asset manager is set to launch a credit fund with a specialty finance focus and a target size of $750 milion

Z Capital passes $100 million fundraising mark for credit fund
Z Capital has raised $106 million for its Credit Tactical Fund, according to a market source

Värde announces senior hire from Neuberger Berman
Värde Partners has announced the appointment of Ria Nova as head of its Americas business development and investor relations team