Fishknife: Interval funds are a step in the right direction
They bring their own dangers, but interval funds are a better vehicle for managing illiquid credit than conventional funds

Southern US public pension fund bumps up allocation to distressed credit
Redwood Capital gains $200 million for distressed credit as $42 billion pension fund steps up allocation to stressed and opportunistic credit

Bain adds almost €1 billion of Iberian non-performing loans to its AUM
Bain Capital Credit has announced that it has bought its first portfolio of non-performing loans in Portugal as well as making its ninth such acquisition from a Spanish bank

Hayfin raises €2.2 billion for special opportunities strategy
Hayfin Capital Management yesterday announced that it has completed fundraising for its new special opportunities strategy

Up-and-coming distressed debt manager plans its second fund
A west coast manager led by a group of former Barclays officials is launching its second global distressed debt fund

Sound Point targets Italian mid market for special situations fund
Sound Point Capital Management is understood to be targeting between $200 million and $300 million for a new European credit hedge fund

West coast pension fund boosts its allocation to Halcyon’s credit business
A major west coast pension allocator to credit has moved to increase its allocation to Halcyon Capital Management after separate account generated 35% return in 2016

Highland shelves plans for format switch as interval funds gather pace
Instead of converting a mutual fund into an interval fund, Highland is looking to launch an interval fund - viewed as a investor-friendly alternative to BDCs - from scratch 

Värde closes latest fund at $1.7 billion
Credit manager Värde Partners has raised $1.74 billion for its latest fund, Värde Fund XII

Cross Ocean looks to take its platform global
Credit managers are queueing up to launch distressed debt funds

Carlyle draws up big plans in credit in reorganisation
Carlyle is diverting resources away from hedge funds and into credit. It has hired a new head of global credit and is currently fundraising in distressed debt and energy credit

Credit hedge fund founder moves to London to join Sandton
Distressed credit manager Sandton has hired a high-profile hedge fund founder who leaves behind Greenwich for London

New distressed debt manager brings in high profile credit trader
Former BAML prop trader joins London-based fund manager ahead of launch

New York-based manager targets $600 million for new distressed fund
A credit fund manager is targeting debt issued by small businesses and regional banks for a new distressed strategy

Centerbridge wins $500 million for upcoming distressed credit fund
A large US pension scheme has agreed to put $500 million into Centerbridge's new distressed fund

Bayside hires in London with an eye on its next distressed debt fund
HIG Bayside has brought in a distressed specialist from a bank in London as part of its plan to raise funds 

Emerging markets specialist Gramercy launches new private debt fund
Gramercy Funds Management has launched a new debt fund, according to regulatory filings