Kern County allocates $90 million for credit funds
Kern County commits up to $90 million to two private credit funds and a special opportunities fund 

Axa Investment Managers beefs up staff with two senior credit hires
Axa Investment Managers hires portfolio manager on emerging markets and fixed income team, while also naming new head of private finance- alternative credit. 

1H23 European direct lender rankings
The volume of European direct lending facilities issued fell to just €8.5 billion in 2Q23. The same quarter last year was the largest on record at €51.3 billion, representing over an 80% drop year on year.

Neuberger Berman secures £2 billion mandate for credit fund
One of the UK's largest pension funds has awarded Neuberger Berman a £2 billion mandate for credit

Australia's largest super fund beefs up international team
Australia's largest pension fund is is growing its team across other geographies in an effort to increase its international presence

Ventura County commits another $45 million to private credit funds
Ventura County Employees' Retirement Association has approved another round of direct lending fund commitments, this time totaling $45 million across two funds

Funds round-up: its still all about private credit
Our summary of all the news about credit funds in the last seven days as private credit again dominated fundraising 

Sixth Street taps Goldman Sachs exec for co-chief investment officer
Sixth Street Partners taps Goldman Sachs veteran Julian Salisbury for co-chief investment officer role

Private credit default index shows surprise decrease in the second quarter
Proskauer’s Default Index of the US private credit market was 1.64% in the second quarter, a significant decrease from 2.15% in 1Q23.

NB raises $2.5 billion for structured equity fund
Neuberger Berman has announced the close of its NB Credit Opportunities Fund II. The fund raised approximately $2.5 billion of limited partner commitments.

Comvest raises $2 billion for new private credit fund
Comvest Partners has announced that Comvest Credit Partners, its direct lending platform, has completed the final close of its latest flagship fund, Comvest Credit Partners VI.

Food and beverage specialist launches second private credit fund
Proterra Investment Partners has announced the close of its second private credit fund, Proterra Credit Fund 2, with the new fund closing above its initial $500 million hard cap.

European direct lender launches third fund
European asset manager Bridgepoint has closed its third direct lending fund, BDL III, with investable capital of over €3.4 billion according to a company announcement. 

Channel Capital hires new head of originations for US fintech partnerships
Channel Capital names new head of originations for US fintech partnerships. 

Jefferies Credit Partners plans new BDC

Jefferies Credit Partners plans to launch its first private placement of a business development company. 

Nomura Private Capital taps BlackRock for new senior role

Nomura Private Capital hires new head of opportunistic private credit from BlackRock. 

Global investment firm closes fund with $3 billion in capital commitments

Global investment firm closes fund with $3 billion in capital commitments, focusing on opportunistic investing. 

Illiquid assets are increasingly hot in the private markets according to Aeon survey
Illiquid assets may offer protection against macro uncertainty, according to findings from a new survey.

Angelo Gordon raises more than $1 billion for credit fund
New York-based alternative investment firm closes asset-based credit fund with more than $1 billion. 

San Francisco Employees' Retirement System approves multi-million dollar private credit commitments
Retirement system approves several multi-million dollar private credit commitments. 

Asset management firm creates new credit platform
Insurance and asset management firm Nassau launches new credit platform with more than $8 billion in assets under management. 

Private credit fundraising continues as two new funds launch
Private credit funds continue to see growth with two new US funds launching this week.

Barnes & Thornburg hires new lead for private credit team
Global law firm hires new head of private credit team in New York. 

Massachusetts Water Authority narrows proposals for opportunistic credit search
Massachusetts Water Resource Authority Retirement System narrows opportunistic credit fund recipients down to three candidates. 

Australian fund manager adds new credit PM
Australian fund manager IAM has branched into opportunistic credit with the acquisition of the River Capital Liquid Credit Fund and credit mandate, which includes a move for the fund’s portfolio manager.