LP round up: Arcmont, Ares and Sixth Street win European direct lending mandates
Investors have allocated around $2 billion to credit funds in recent weeks, according to board documentation seen by Creditflux. Among those to recieve allocations include ADM, Arcmont, Ares, Audax, Bain, Centerbridge, Clearlake, Goldman Sachs merchant banking,  Invesco, Monarch, Oaktree, Raven, Sixth Street and Sound Mark

Credit fundraising: November marks turning point as fund launches spike
November was always set to be an important month as the world awaited the US election outcome and the results of covid-19 vaccine trials. This did nothing to slow down fund managers as 14 funds launched, up from only four funds launching in September and five in October

Highbridge closes convertible dislocation fund with over $2 billion to deploy
Highbridge Capital Management has held a final closing of its convertible dislocation fund

First Eagle confirms launch of credit interval fund
First Eagle Investment Management has announced the launch of its credit interval fund, First Eagle Credit Opportunities Fund, which Creditflux reported on in July. The vehicle will invest across public and private credit

Arena collects $519 million for final close on special situations fund
Arena Investors has become the latest credit manager to launch a special situations strategy

Certior targets smaller distressed funds as it launches fund of funds
Certior Special Opportunities Fund is targeting distressed debt, opportunistic strategies, special situations, non-performing loans and asset-backed securities 

ADM launches $500 million renewable energy debt fund
ADM Capital Elkhorn Emerging Asia Renewable Energy Fund has received $100 million seed capital from the Asian Infrastructure Investment Bank

LP round up: Monroe and Angelo Gordon beat 25 for direct lending mandate, as private credit plans brew
US public pension funds have disclosed $1.2 billion in commitments to credit focused strategies

Monroe sets $1.5 billion target for fourth lower mid-market direct lending fund
The Chicago-headquartered manager is targeting $1.5 billion for Monroe Capital Private Credit Fund IV. The vehicle held a $276.2 million first close last month

ICG collects €4.2 billion for senior debt strategy, plans real estate debt fund launch
Intermediate Capital Group collected a further €1 billion for its latest senior debt strategy over the past six-month reporting period, taking the total amount for ICG Senior Debt Partners IV and separate mandates up to €4.2 billion

Ares targets $4 billion for junior private credit fund
Ares Management is targeting $4 billion for its latest junior private credit fund, Ares Private Credit Solutions II

Arrow's NPL fund hits €1.7 billion final close in 2020's 'largest' first-time private market European fundraise
In a tougher year for fundraising than normal, most market participants agree managers raising first-time funds could struggle. But that has not stopped Arrow Global from closing an inaugural European non-performing loan strategy at €1.7 billion

Schroders creates multi-asset private credit fund for DB pensions
Schroder Adveq MPCF will invest in a range of private credit assets, including corporate direct lending, real estate debt and infrastructure debt

Neuberger Berman seeks investors for fourth private debt fund
Neuberger Berman is fundraising for a fourth private debt fund, a little over 18 months since it closed the previous offering

Värde closes $1.6 billion dislocation fund
Värde Dislocation Fund, has a flexible, global mandate to invest in mispriced, stressed and distressed credit, focusing on short- to medium-term credit opportunities

Puerto Rico-based direct lender seeks $200 million for new fund
Parliament Credit Opportunities Fund II will invest in senior financings to small and medium sized businesses across Puerto Rico and key Hispanic markets in the US

VSS holds first close on $400 million non-sponsored junior capital fund
VSS Structured Capital Fund IV will invest in non-control, non-sponsored, junior capital investments in US lower middle market companies

Corbel targets distressed and special situations with lower mid-market fund
Corbel Distressed & Special Opportunities Fund will focus on non-control turnaround and special situations in US lower middle market companies 

LP round up: $2.8 billion flows to credit as Apollo concedes fundraising may slow
Florida Retirement System Trust Fund made the largest commitments allocating $1.6 billion. Apollo meanwhile acknowledged a potential slowdown in fundraising as investors await results on an independent review into CEO Leon Black's relationship with Jeffrey Epstein

Credit funds at a glance (November 2020)
A round-up of fundraising and people moves

Carlyle BDC forms $250 million direct lending JV with Cliffwater
Carlyle’s business development company TCG BDC has formed a $250 million mid-market direct lending joint venture with Cliffwater

Credit fundraising: Dubai manager gets in on the act as direct lending takes off
Shuaa launches credit fund in the Gulf as Ares, Contingency, HPS and Perceptive are among those to close billion-plus funds

BMO caters to Europeans with new US mid market loan fund
BMO Financial Group has launched a US mid-market credit fund for European institutional investors

Stepstone subsidiary raises $35 million private markets fund for high net worth individuals
Conversus has closed an inaugural private markets fund, Conversus StepStone Private Markets, at $35 million

Direct lending green shoots flourish despite fundraising plunge
Despite the headline figures, sources say European direct lending fundraising remains healthy and newcomers have a place to enter