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

Connecticut, San Francisco among funds making new private credit moves – Public Pensions, Private Pursuits
EXCLUSIVE: Connecticut plans commitment to Anchorage Capital distressed credit funds; San Francisco, North Dakota, and Dallas funds disclose recent commitments

King Street, Generali Investments launch opportunistic credit fund for affluent Europeans
The fund will offer investments beyond traditional direct lending, offering investors access to corporate and asset-based lending, dislocated public credit, and some distressed situations

Marathon ditches distressed strategy to raise USD 2.7bn for opportunistic credit
EXCLUSIVE: The asset manager originally launched the fund with a distressed debt strategy but has since switched the focus to making opportunistic private credit and equity investments  

Centerbridge launches new distressed debt fund targeting around USD 4bn
EXCLUSIVE: The Washington State Investment Board looks to come back as an investor in Centerbridge’s fifth special situation funds that’s looking to raise USD 4bn 

Tikehau raises EUR 1.2bn for European special opportunities credit
The third vintage fund held a final close, surpassing the fundraising target

King Street launches special situation fund open to individual investors
The asset manager plans for the fund to have around USD 1bn in assets under management.  

Triton closes on over EUR 1bn for third opportunistic credit fund
Triton Debt Opportunities, the opportunistic credit arm of European investment manager Triton, has raised more than EUR 1bn

BNP Paribas AM raises EUR 90m for private debt fund of funds
A new fund of funds from BNP Paribas AM will target European special situations by investing in 6 to 8 private debt funds 

Direct lenders debate new protections to avoid being Pluralsight-ed
Direct lenders are starting to ask for “Pluralsight Protection” when negotiating new deals to head off a repeat of the standoff this summer

iHeart secured group advisors in confidential talks with company
iHeartMedia, still an important name in the US CLO market, is back in the news, potentially impacting 482 different CLOs

Connecticut pension allocates USD 300m to Oaktree’s distressed credit fundraising
Connecticut pension system commits to Oaktree latest flagship distressed credit fund

Houlihan Lokey adds new credit MD
Investment bank Houlihan Lokey released news yesterday of a new managing director hired to the firm’s Financial Sponsors Group 

Proskauer poaches pair of credit partners from Milbank
Proskauer Rose continues to build out its team with the addition of Eric Reimer and Gayle Berne as partners in the global finance practice

Blackstone sets sights on USD 10bn for opportunistic private credit fund
Blackstone will soon introduce the latest version of its opportunistic private credit fund, aiming to raise USD 10bn, Michael Chae, the firm's chief financial officer, told analysts 

Florida pension system allocates to three alternative funds
Three funds received commitments from the City of Hollywood Employees' Retirement Fund including an opportunistic credit fund and a direct lending fund

Lumen Technologies ad-hoc group preps competing proposal
The refinancing of Lumen Technologies, currently held by 1311 different CLOs with a combined principal balance of USD 3.8bn, took a new twist today as details of a competing proposal emerged

RiverRock secures €153 million in commitments for new senior loan fund

RiverRock sets €1 billion commitment target for latest fund, nearly double the size of its previous vintage

CLO funds are hot in summer as they take nine spots in top 10 (Fund performance)
CLO funds took the lead through summer as the returns of the category index reached 1.88% and 3.18% in June and July, respectively. Both months saw a CLO fund as the top performer — Sound Point Meridian in June, and Oxford Gate Master Fund in July.

Creditors try double dips to raise recoveries
A new form of liability management has emerged to take its place alongside the various uptiering and drop-down transactions that have been executed recently: the so-called “double dip” financing

Illinois Municipal Retirement Fund sinks hundreds of millions into credit funds

The Illinois Municipal Retirement Fund has invested more than half a billion dollars into several credit and direct lending funds

Brazilian distressed fund gains investor attention internationally
International investors continue to take note as Brazil's Jive Investments raises roughly half a billion dollars for fourth vintage of distressed and special situations fund. 

LP round up: HPS wins $550m mandate as Ares launches third US direct lending fund
US institutional investors allocated nearly $3 billion to credit funds in April. The news comes amid a BlackRock survey in the month which showed significant investor interest in private credit

Fund performance: European CLO funds lead the way
February was a positive month for many funds, as only one quarter failed to reach the black. This builds off a stellar start to the year: 96% of funds reached a positive return in January

LP round up: opportunistic credit dominates as investors allocate $2.2 billion
US institutional investors invested at least $2.2 billion to credit funds in March, according to documents seen by Creditflux, with opportunistic credit funds dominating commitments