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

Veritas closes inaugural credit opportunities fund at $400 million
Veritas Capital has held a final close inaugural credit opportunities fund Veritas Capital Credit Opportunities Fund at $400 million

LP round up: EIF backs four debt funds while Carlyle wins $1 billion
Institutional investors have allocated just over $4 billion to 27 credit managers in October board meetings

Window or aisle? Pimco jets off with GE for $3 billion aircraft leasing platform
Pimco has partnered with GE Capital Aviation Services to launch a $3 billion aviation leasing platform, which the pair say will “provide financing to help airlines upgrade their fleets at critical time for the aviation industry”

Edelweiss collects $900 million for Indian private credit fund
Canada’s Ontario Teachers’ Pension Plan Board, Florida’s State Board of Administration, Swedish Pension Fund AP4 and one European insurance investor were among the investors who allocated to the $900 million fund

Alantra buys 49% stake in European direct lender
Alantra has bought a 49% stake in European mezzanine and junior private debt manager Indigo Capital, which it says will consolidate its position in the French sponsorless market and accelerate its growth in Italy and other European geographies 

Triton reaches €744 million final close for second credit opportunities fund
Triton Partners has collected €744 million on a final close of a second credit opportunities fund, Triton Debt Opportunities II, exceeding its €550 million target

Perceptive holds $1.1 billion final close on healthcare direct lending fund
Perceptive Advisors has held a $1.1 billion final close on its its third healthcare-focused direct lending fund, Perceptive Credit Opportunities Fund III

Syz hires former Brigade official as it pushes into litigation finance
Syz Capital has appointed a head of special situations and uncorrelated strategies, as part of the firm’s push into litigation finance

Dubai manager launches first dedicated financing fund
Shuaa Capital has launched its first fund dedicated to financing opportunities in the gulf region

Sovereign wealth funds empower direct lenders
Sovereign wealth funds are turning toward the booming private credit market, with three massive partnerships formed this year

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

Ex-Fortress official launches $1.5 billion litigation finance firm with Tetragon backing
The new business is backed by Tetragon’s TFG Asset Management, which will receive a minority equity interest, while Fortress has entered into co-investment agreements with the newly launched firm 

Credit fundraising: managers build homes for real estate credit funds
The “largest ever real estate credit fund” was one of the fundraising highlights last month as Blackstone’s Real Estate Debt Strategies IV fund reached $8 billion on its final close

Owl Rock recieves $1 billion allocation from California pension
Owl Rock Capital has recieved a $1 billion allocation from the California State Teachers' Retirement System. The mandate will fund Owl Rock's opportunistic credit and diversified lending investments

HPS closes mezzanine debt fund with $11 billion to deploy
New York-based manager HPS has held a final close on HPS Mezzanine Partners 2019

Bain prepares credit dislocation strategy
Bain Capital Credit looks set to raise a fund dedicated to opportunities arising from credit dislocation, just four months after collecting $3.2 billion for its latest distressed debt and special situations vehicle

CIC launches European loan fund
Credit Industriel et Commercial is looking to raise €300 million for a European senior debt fund

Barings launches second North American direct lending fund
Barings has begun fundraising for its second North American-focused direct lending fund, three years after closing the firm’s inaugural strategy.

Evolution lifts AUM to $1.8 billion after launching direct lending strategy
Evolution Credit Partners Management has finalised fundraising for a private debt fund. It has held a $565 million final close on its inaugural middle-market direct lending fund

Mediobanca's private markets division raises $120 million for third fund
Mediobanca’s private banking division and Russell Investments have held a $120 million final close on a third private markets fund

LP round up: $5 billion flows to credit as private market allocations increase
Global institutional investors allocated nearly $5 billion to credit funds this week, according to documents seen by Creditflux

Barings inks partnership with Mubadala for European mid-market platform
Barings has teamed up with Abu Dhabi state fund Mubadala Investment Company to launch a new European middle market origination platform named Barings Mubadala Enterprise

Ex Apollo veteran launches mid market firm with $350 million seed capital
A credit veteran, perhaps best known for co-founding Apollo's CLO platforn, has set up a new middle market credit firm named FrontWell Capital Partners. The Toronto-headquartered firm starts operations with seed capital of $350 million