Credit fundraising: Goldman Sachs direct lending fund takes March figures to $23 bn
Credit funds sprung forward in March as $23 billion was raised alongside $2.6 billion worth of allocations to credit managers. 

Black Diamond structured credit BD head joins impact investment firm
Black Diamond Capital Management's head of structured credit business development has parted ways with the firm after nearly four years, according to market sources. He is set to join start-up impact investment firm Lafayette Square as managing director and head of capital markets

US private credit deals set to increase but flexible terms may not remain, finds Katten
The private credit market is optimistic about deal flow for 2021 but respondents in law firm Katten's survey are mindful that flexible deal terms will not remain forever

Credit funds at a glance (April 2021)
A round-up of fundraising and people moves

Ucits at a glance: Advent and Algebris lead the pack again
Ucits funds saw the brighter side of February, as 80% of funds achieved a positive return

LP round-up: $2.6 billion flows into 26 credit managers
A stuck ship in the Suez Canal may have prevented others from getting through one of the world's busiest waterways in March, but allocations to credit funds were much more free flowing as investors poured over $2.6 billion into the hands of credit managers

Eagle Point diversifies from CLOs as it wins $180 million for BDC lending strategy
A US public pension has earmarked $60 million for Eagle Point's fund and a further $120 million for a separate managed account

MV pairs with Loomis Sayles on open-ended credit fund for UK pensions
Smart Pensions is the cornerstone investor on MV Dual Credit Fund, providing around £100 million to the strategy

DE Shaw amasses $1 billion for stressed and distressed assets
The fund will invest in stressed and distressed assets, financings, and special situations opportunities

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

Los Angeles pension seeks global credit manager for $880 million mandate
Flush with cash? The Los Angeles Water & Power Employees' Retirement Plan has launched a request for proposal for its ‘active extended global credit’ mandate. But only managers with $50 billion under management need apply

Hayfin closes 'over €5 billion' European direct lending strategy amid record deployment
Hayfin held a final close on its latest European direct lending fund, Hayfin Direct Lending Fund III

Connection anchors sterling share class in European private credit fund
Connection Capital says it has raised £3 million (€3.5 million) from its high net worth client base to invest in a manager's direct lending fund 

Hamilton Lane forms private markets partnership with Russell
Hamilton Lane will provide insight and input to Russell Investments’ private markets team on portfolio construction, along with investing money

Kartesia amasses €1 billion for inaugural senior direct lending fund
Kartesia has held a €1 billion final close of its inaugural senior debt fund, Kartesia Senior Opportunities I

Four managers win lucrative $700 million credit mandate
A $39 billion pension has selected four managers for an opportunistic credit mandate and identified a further four ‘bench’ managers 

Permira targets up to €5 billion with fifth direct lending fund
The launch of Permira Credit Solutions Fund V comes 12 months after the firm held a final close on its predecessor

Manager sails to €210 million final close on fifth European credit fund
The fund will invest in debt and equity in Northern European small to medium sized companies

Tikehau places €500 million sustainable bond as it plans high yield impact fund
Tikehau Capital has placed an inaugural sustainable bond that it says is the first of its kind for an asset manager

Tikehau hires UK institutional business head
Tikehau Capital has appointed a head for its UK institutional business

Manager holds €135 million interim close on Italian private debt fund
The vehicle has a €200 million target and €250 million hard cap

MUFG makes three big hires to bolster US private equity sponsor and direct lending coverage
Mitsubishi UFJ Financial Group has hired from Antares, RBC and Regions Bank 

Ares pledges charitable donations based on success of new $3.7 billion fund
Ares Management Corporation has held a final close on Ares Pathfinder Fund at its $3.7 billion hard cap - and portfolio managers will commit at least 10% of the fund’s caried interest profits to global health and education charities

Lombard hires PM for new special situations strategy
Lombard Odier has hired an ex-Sandell Asset Management official to launch a strategy that targets special situations and event-driven opportunities

Manulife appoints co-heads of junior private credit from Hancock affiliate
Manulife Investment Management has named co-heads of junior credit for private markets