Creditflux

Bain garners $973 million for middle market fund
Bain Capital Credit has garnered $973.4 million its latest US direct lending mezzanine strategy, Bain Middle Market Credit 2018

Structured credit manager wins $300 million from Texas pension
The separately managed account will form part of the $30.3 billion pension fund's strategic credit mandate 

Corbin eyes non-sponsored loans for inaugural private credit funds of funds
The New York-based fund-of-funds manager plans to target a private credit portfolio of around 125-150 loans across six to eight managers that focus on non-sponsored lending

US pension scheme eyes 50 South Capital fund of funds
50 South Capital Backed Credit Fund II, a fund-of funds vehicle, is set to invest in four loan funds in small and medium size companies, according to documents seen by Creditflux  

Carval fashions 'flexible' global multi-strategy credit hedge fund
The open-ended fund will focus on non-control strategies including corporate securities, liquidations, loan portfolios and structured credit 

Boston-based pension backs Searchlight distressed fund
Cambridge Retirement System, the $1.27 billion pension fund, has committed $150 million to Searchlight Capital Partners III during the second semester of 2019, according to documents seen by Creditflux.  

Local connections pay off as UK pension backs Tosca
Tosca Debt Capital has begun marketing Tosca Debt Capital Fund III and secured a commitment from the Greater Manchester Pension Fund, according to documents seen by Creditflux

Credit funds contribute to Hamilton Lane’s AUM growth
Hamilton Lane has announced its assets under management and advisement has hit $473 billion as of June. This comes shortly after it closed a credit fund and begun marketing another one

New York Life brings in $495 million for credit fund
New York Life Investors has pulled in nearly $500 million for Madison Square Structured Debt Fund

Barings raises €1.5 billion for European direct lending
Barings has held a close for its latest European direct lending fund, receiving €1.5 billion of capital from over 45 institutional investors

CIFC preps inaugural distressed debt fund
The New York-based firm is the latest in a line of managers to have begun fundraising for an inaugural distressed debt fund

Apollo fee earnings rise 9% in Q2 as structured credit boosts portfolio
Apollo Global Management’s credit portfolio increased 4% quarter-over-quarter to $201 billion, driven by growth in affiliated life insurance firm Athene, as well as corporate credit and structured credit

New EC fund rules could lead to ‘pre-pre-marketing’
The European Commission has approved a standardised concept of ‘pre-marketing’ in a move that could see more capital flow through the European Economic Area. The new definition of pre-marketing is meant to provide clarity, but some sources say that the amendments could be seen as an additional burden and lead to a concept of pre-pre-marketing.

Sound Point swaps evergreen fund for drawdown
Sound Point Capital Management is dropping its evergreen distressed debt fund in favour of a vehicle that will employ a drawdown structure, as is customary for distressed strategies.

A challenging environment

US university backs Asian direct lending fund
University of Michigan has committed $50 million to SSG Capital Partners V, according to documents seen by Creditflux  

BlackRock launches $2 billion coporate credit fund with special situations remit
BlackRock has closed its flagship opportunistic credit fund, Global Credit Opportunities, with $2 billion capital commitments

Spanish manager secures €40 million for debut private credit fund
Spanish direct lender Talde has held a €40 million first close on its debut private credit fund Talde Deuda Alternativa

Hamilton Lane holds $760 million final close for private credit fund
Hamilton Lane has held a $760 million final close for its latest global private credit fund, collecting slightly less capital than the manager’s predecessor fund. 

Kayne Anderson targets direct lending and liquid credit mix for new fund
Kayne Anderson is looking to launch a closed-ended fund focused on direct lending, liquid credit and energy and infrastructure equity investments

Credit plays a big part as KKR increases AUM by $6.5 billion
KKR grew its assets under management by 8% over the second quarter, according to the firm’s earnings call, which took place on Thursday.

Utah fund set to invest $45 million across Beach Point and Crestline funds
The Utah School & Institutional Trust Fund Office is set to make commitments to credit funds managed by Beach Point Capital Management and Crestline Investors

Creditflux and Debtwire unveil second European Direct Lending Perspectives report
Creditflux and its Acuris stablemate Debtwire have joined forces to produce their second European Direct Lending Perspectives, a report that sheds light on the biggest trends from Q1

London pension outlines private debt commitments
Barnet Pension Fund has earmarked £30 million for commitments to Partners Group Multi Asset Credit 2019

Eagle Point prices IPO for junior CLO debt fund
Eagle Point Credit Management yesterday announced the pricing of an IPO for its CLO junior debt fund named Eagle Point Income Company