Private credit incentivized to seek more protection than BSL
With the First Brands fallout still in the headlines, private credit managers sought to differentiate themselves from the banks that underwrote the troubled auto lender

Fidelity doubles fundraise for sophomore opportunistic credit fund
The fund also revamped its name from Fidelity Distressed Opportunities Fund I

Fidelity adds another senior private debt hire as US expansion continues
Fidelity Investments has hired Lendell Thompson from Vista Credit, the latest of six senior investment professionals added to its US direct lending business

Fidelity Investments raises over $100 million for BDC
Fidelity Investments says that its business development company, Fidelity Private Credit BDC, is up and running with “in excess of $100 million”.

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

Fidelity Investments eyes CLOs as part of multi-strategy credit fund
Fidelity Investments is preparing to launch a new multi-strategy credit fund, which will “opportunistically rotate across the entire credit spectrum”

Fidelity Investments prepares inaugural BDC
Fidelity Investments is preparing to launch its inaugural private credit business development company, Fidelity Private Credit Fund

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

Credit Fundraising: Private credit and CLO captive equity feature strongly as closes mount up
Credit funds have made a fair start to the fourth quarter, although the $21 billion raised during October is down substantially on September’s impressive record for 2021

Fidelity adds senior hire from Madison Capital to new direct lending team
Fidelity Investments has hired a former managing director at Madison Capital to its new direct lending team

Fidelity launches US direct lending business and hires team head from PNC
Fidelity Investments is launching a direct lending platform and has hired a senior PNC official to lead the new business from Chicago

Fidelity and Loomis Sayles win IG and securitised credit mandates
Fidelity Institutional Asset Management and Loomis Sayles have beat out the competition to manage Employees System of Rhode Island’s investment grade corporate credit and securitised credit plans

Managers change on $4 billion worth of Fidelity funds ahead of PM's retirement
Veteran Fidelity portfolio manager Matthew Conti is expected to retire in December. In anticipation, several Fidelity credit funds worth a combined $4 billion are shaking up their management mix

Fidelity launches investment grade bond fund
Toronto-based Fidelity Investments Canada ULC has launched an investment grade total bond fund in a bid to provide investors with a "fixed income solution that is flexible and can target multiple sources of income"

Fidelity International names new global head of asset management
Fidelity International has confirmed the appointment of Bart Grenier to the newly created position of global head of asset management in London, a spokesperson confirms