After a tough and unpredictable year, January may have been seen by many as an opportunity for a fresh start. But for seven managers it meant holding final closes on funds, while three undertook first closes and one a fund launch.
2020 ended on a strong note for private debt allocations with four institutional investors increasing asset allocation to private debt or initiating private debt and leveraged loan searches, according to board documents seen by Creditflux. On top of this, investors allocated capital to credit funds managed by ArrowMark, Banner Ridge, BBAM, HIG Whitehorse, Monroe and Rialto.
US pensions have allocated $1.4 billion across 22 credit funds including those managed by Angelo Gordon, Ares and GoldenTree.
Institutional investors have allocated around $2 billion to credit funds in recent weeks.
US public pension funds have disclosed $1.2 billion in commitments to credit focused strategies.
COVID-19 has emphasized the need for patience and mandate flexibility in private credit, industry participants told the AVCJ Forum.
Institutional investors have allocated just over $2.8 billion to credit funds in recent weeks.
Institutional investors have allocated just over $4 billion to 27 credit managers in October board meetings.
Global institutional investors allocated nearly $5 billion to credit funds this week.
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