Florida pension allocates $600 million to three credit managers
Florida State Board of Administration has awarded $600 million to three credit managers in the first quarter, according to a board update seen by Creditflux

Apollo earmarks $20 billion for dislocation fundraising over 12 months
Apollo's returns for corporate credit, structured credit and direct origination in the first quarter were down 8.3%, 14.7% and 4.8%, respectively, but the firm is looking to launch various credit strategies, including capital solutions, dislocation strategies and distressed strategies, that it “expects to accumulate $20 billion over the next year”

GSO eyes $7 billion for credit opps fund and closes $4.8 billion European direct lending fund
GSO is eyeing a $7 billion target size for a new credit opportunites fund. The New York-based manager recently closed its second European direct lending fund, GSO Senior European Debt Fund II, at $4.8 billion

Angelo Gordon wins third opportunistic credit mandate with US pension
The familiar tale of investors favouring existing relationships shows as Angelo Gordon recieved $25 million for an opportunistic credit fund from a pension with two existing commitments to the New York-based manager

Carlyle defers $4 million CLO sub fees after loan downgrades
Carlyle Group deferred $4 million CLO subordinated fees in the first quarter, as a result of rating downgrades across the industry, the firm's quarterly earnings call revealed

KKR deploys 10% of $2 billion coronavirus dislocation credit fund
KKR Credit has plans to launch a $2 billion dislocated corporate and asset backed credit fund to take advantage of coronavirus-induced volatility. And the New York-based manager has wasted no time swooping on opportunities after deploying $212 million by 9 April

Deerpath outlines $1 billion target for lower mid-market direct lending fund
Deerpath Capital has outlined an ambitious $1 billion target size on its lower middle market direct lending fund, according to market sources. The manager expects a final close of the fund in Q3

CVC raises $657 million for US direct lending fund
CVC Credit Partners has raised $657 million for its US direct lending fund, CVC Credit Partners US Direct Lending Fund II, exceeding its original $500 million target size

New Mexico pension allocates $235 million to credit
New Mexico Educational Retirement Board has allocated $235 million to three credit managers, a spokesperson for the pension has confirmed

HPS raises $1.5 billion SME credit fund in Europe
HPS Investment Partners has closed a $1.5 billion SME credit fund known as the European Asset Value Fund II

Arbour Lane collects $1.2 billion for special situations fund
Arbour Lane Capital Partners has hauled in $1.2 billion on a final close of its opportunistic credit and special situation fund, Arbour Lane Credit Opportunity Fund II, exceeding its $750 million initial target size

BlueTorch's Genda details direct lending flows and pricing as he ramps up new fund
BlueTorch Capital has witnessed a 20% pickup in dealflow since covid-19 but, while the company's portfolio has avoided retailers, airlines and hotels, it has not gone unscathed, said chief executive officer Kevin Genda

Global direct lending fundraising plummets in Q1
Global direct lending fundraising figures plummeted in the first quarter as coronavirus-related volatility kicked in. Managers raised just $9.4 billion raised across 11 funds compared to $18.6 billion across 15 in Q1 2019, according to Creditflux's fund database

Aero lands $414 million final close on aircraft leasing fund
Aero Capital Solutions has collected $414 million for its second mid-life aircraft leasing fund, holding a final close for the fund on 6 March

Virginia pension allocates $850 million to credit in Q1
Virginia Retirement System has allocated $850 million to three credit strategies in the first quarter of the year, according to an update at its 15 April investment committee meeting

Tennessee pension awards $125 million to special situations credit fund
Tennessee Consolidated Retirement System has awarded $125 million to a special situations credit fund 

Park Square nears €1.5 billion final close for European junior debt fund
Park Square Capital is nearing the final close on a fourth European mezzanine debt fund, with the London-based manager collecting nearly €1.3 billion

Muzinich subsidiary launches €417 million Italian credit fund
Springrowth, a subsidiary of Muzinich, has held a €417 million final close on an Italian direct lending fund in which Muzinich partners with local banks for origination. The Milan-based firm is also fundraising for a Rescue Financing fund to support companies affected by the coronavirus crisis

Crescent closes second European direct lending fund at €1.6 billion
Crescent Capital has raised €1.6 billion for its second European direct lending fund, exceeding the original €1 billion target size, according to an announcement

Bardin Hill pulls in $300 million for first close of opportunistic credit fund
Bardin Hill has held a first close on an opportunistic credit fund at around $300 million, according to sources familiar with the matter

US pension earmarks $35 million for mezzanine debt fund
Arkansas Teachers Retirement System has earmarked $35 million to a mezzanine debt and equity strategy managed by Greyrock Capital Group

Golub becomes second BDC to undertake rights offering this week
Golub Capital has become the second business development company to undertake a rights offering this week, following in the footsteps of Bain Capital, as BDCs seek capital to ride out challenges besetting the market from the coronavirus pandemic 

Bain uses rights offerings as unusual route to raise cash for BDC
Bain Speciality Finance is looking to raise additional capital through a rights offering to “further strengthen its balance sheet” and “provide additional flexibility to support existing portfolio companies over the coming months”, chief executive officer Michael Ewald said in an open letter to shareholders on Monday

Balance Point collects $1.1 billion for lower mid-market direct lending
Balance Point Capital has collected $1.1 billion on its fourth direct lending fund focused on the lower middle market, Balance Point Partners IV

Ohio pension injects $175 million into credit via JP Morgan and HPS
The School Employees Retirement System of Ohio has made a $175 million commitment to two strategies; high yield and direct lending