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

Axiom bets on 2002-style credit recovery with crossover fund launch
Axiom Alternative Investments is readying to launch a fund aimed at generating returns from the dislocation and revival of European and US credit as the coronavirus pandemic develops

Former JP Morgan credit prop trader relaunches credit hedge fund
Palm Lane Partners is relaunching – two years after the credit hedge fund manager looked to spin out of JP Morgan Asset Management

Texas pension allocates $100 million to Apollo credit hedge fund
Employees’ Retirement System of Texas has allocated $100 million to open-ended long-short credit fund, according to its March update 

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 

You wait 12 years for loan dislocation and $1 trillion comes along all at once
The waiting is over — distressed debt managers have the best entry point in about a dozen years as the S&P/LSTA Leveraged Loan Index plunged to 80 in just two weeks.

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

Three CLO investors win mandates from US insurer
New York State Insurance Fund has selected 11 credit managers to invest around $1 billion across corporate loans, high yield bonds and CLO tranches, according to documentation seen by Creditflux. Three  of these mandates are geared towards CLOs 

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

Private credit managers re-examine docs in new fundraising approach
Private credit managers are facing numerous challenges and those looking to fundraise have had to change the way they approach the process, including documentation, according to a note from DLA Piper

Churchill collects $2 billion for second unlevered US direct lending fund
Churchill Asset Management has held a $2 billion final close on its second US direct lending fund, doubling its original $1 billion target size

Managers get creative as private credit fundraising set for Q2 dent
Private credit funds should expect a slowdown in fundraising as credit markets gyrate wildly and investors address issues in their public market strategies. But managers have been coming up with creative solutions to keep business flowing

Alcentra prepares listed credit fund
BNY Mellon Investment Advisor has teamed up with affiliate Alcentra to launch a listed fund that can invest across a range of credit strategies

Californian pension allocates $325 million to aviation and corporate private credit
San Francisco County Employees’ Retirement System has allocated $325 million to private credit strategies, according to 11 March board minutes

Solar raises $525 million for direct lending fund
Solar Capital Partners has collected $525 million for its latest private credit funds

Metrics pulls plug on direct lending fundraising
Australian direct lender Metrics Credit Partners has pulled the plug on fundraising for its listed private debt fund

Crayhill collects $130 million for second asset-based credit fund
Crayhill Capital Management has raised around $130 million for it second asset-based credit fund,  according to 9 March US regulatory filings

Brigade collects $100 million for 'senior tranche' SMA
Brigade Capital Management has won a $100 million mandate from Texas County & District Retirement System for a structured credit fund geared towards senior tranches

NXT launches first direct lending fund since Orix takeover
NXT Capital is back in the market fundraising for its sixth direct lending fund, NXT Capital Senior Loan Fund VI, according to US regulatory filings 

Axiom seeks high yield sweet spot with long-short fund
Axiom Alternative Investments is set to launch a long-short fund that will identify mispricings of high yield credit arising from the prolonged compression of spreads between different rating bands.

NNIP launches corporate green bond fund
NNIP Investment Partners has launched a green bond fund focused on corporate borrowers, following dominance by this issuer group in the green bond market last year

Bayside targets $1.25 billion for special situations fund
HIG Bayside is targeting $1.25 billion for its latest special situations fund, HIG Bayside Loan Opportunity Fund VI, according to US regulatory filings filed on Monday