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Ares latest commitment for third direct lending fund comes from Los Angeles pension system
7 months ago
Ares Management continues to grow its Ares Senior Direct Lending Fund III with a new commitment from the Los Angeles Fire & Police Pensions -
Mount Street taps Dechert exec for client development role
1 year ago
The European-headquartered third-party loan servicer and credit asset manager is expanding Stateside. -
San Francisco Employees' Retirement System approves multi-million dollar private credit commitments
1 year ago
Retirement system approves several multi-million dollar private credit commitments. -
L Catterton plots credit platform growth with Hunter Point minority stake
1 year ago
Hunter Point Capital has bought a minority stake in L Catterton, with a particular focus on helping grow the firm’s new credit business -
New York lifts limit on pension alternatives to 35%
1 year ago
New York pensions have been granted the ability to elevate their alternative investment allocations from 25% to 35%. This comes after New York governor Kathy Hochul signed a bill on 23 December that lifts the “basket clause” -
Fund performance: Light at the end of the tunnel for credit funds after difficult year
1 year ago
Following a tough September, credit funds bounced back in October as 59% of funds made positive returns. -
Trade finance specialist sentenced to 12 years in prison for CLO and fund fraud
2 years ago
David Hu, the former chief investment officer of International Investment Group, has been sentenced to 12 years in prison for his role in running a “Ponzi-like scheme”, which included using a CLO to create fraudulent loans. -
Credit Fundraising: Private credit and CLO captive equity feature strongly as closes mount up
2 years ago
Credit funds have made a fair start to the fourth quarter, although the $21 billion raised during October is down substantially on September’s impressive record for 2021 -
Fund performance: Déjà vu as April leaders dominate
3 years ago
CLO funds stayed in the top flight for another month as they took over the top 10 credit hedge fund return table in May, when 87% of all funds listed made positive returns -
It's all relative: CLOs march tighter as macro traders open positive CDS skews
3 years ago
Credit default swaps are back near where they started the year after giving up their early-February gains amid a rise in government bonds. CDS curves steepened over the past month and macro hedging has left indices trading with positive skews. But CLOs paint a calmer picture in which spreads have inched tighter -
Ucits at a glance: Year-to-date returns head for double figures
3 years ago
Ucits funds generally performed well in October as 75% achieved positive returns -
Monarch collects $3 billion for fifth distressed and opportunistic credit strategy
3 years ago
The strategy invests across corporate credit, structured credit, real estate, government debt and special situations -
LP round up: Arcmont, Ares and Sixth Street win European direct lending mandates
3 years ago
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 -
Monroe sets $1.5 billion target for fourth lower mid-market direct lending fund
3 years ago
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 -
LP round up: $5 billion flows to credit as private market allocations increase
3 years ago
Global institutional investors allocated nearly $5 billion to credit funds this week, according to documents seen by Creditflux -
Credit fundraising: distressed keeps in favour but CLO ETFs emerge
4 years ago
Five months into global lockdown and distressed debt funds are still proving popular, but several managers have found success pitching other types of credit strategies -
Flat Rock eyes interval fund conversion for private BDC
4 years ago
Flat Rock Capital Corporation, a private business development company managed by Flat Rock Global, has filed to convert to an interval fund, according to US regulatory filings. The BDC will merge into a new entity, subject to shareholder approval -
Fund performance: Credit funds post double-digit gains
4 years ago
June returns have once again been led by CLO funds, as seven out of the top 10 belong to our CLOs category. -
Private debt secondaries volume nosedives 81% in H1
4 years ago
Global private debt fund secondaries volume nosedived 81.8% during the first half of 2020 as the effects of coronavirus began to surface, according to a recently released report by Setter Capital -
Ucits at a glance: Ucits recover lost ground
4 years ago
The foot has come off the gas for many funds - 57% of funds did not break the 2% return barrier. -
Fed expands scope of Main Street lending programme
4 years ago
The Federal Reserve Board has expanded the scope of its Main Street Lending Programme to allow more small and medium-sized businesses to participate -
Magnetar wins $400 million for illiquid credit mandate
4 years ago
Los Angeles County Employees Retirement Association has allocated $400 million to Illinois-based Magnetar Financial at its 13 May board of investment meeting, according to recently released minutes -
Ares raises $3 billion special situations fund ahead of huge European direct lending launch
4 years ago
Ares Management has witnessed “accelerated fundraising” for its special situations fund, which it has closed at around $3 billion, according to the firm’s earnings calls. The firm also launched its fifth European direct lending fund this week, which Ares expects could be “the largest private comingled fund in its history” -
Fed expands Main Street direct lending scheme but it's unlikely to help CLOs
4 years ago
The US Federal Reserve Board has expanded the scope of its Main Street Lending Programme following more than 2,200 letters of feedback. Under the third loan facility, lenders will hold 15% of the loan to borrowers with greater leverage -
US pension approves four-year private credit plan as direct lenders report performance
4 years ago
Santa Barbara County Employees has approved a private credit pacing plan from investment consultant RVK to maintain a commitment schedule of $40 million per year to the asset class until 2024 to achieve its target allocation and diversification
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