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CloseAfter 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.
This promising start to 2021 raised $17.69 billion for funds in the US and Europe, although Creditflux's tally includes late announcements on funds that closed in December.
January brought a handful of fundraisings for strategies looking to capitalise on opportunistic credit. PennantPark, LCM Partners, Kennedy Lewis and Silverpeak all contributed, with LCM Partners Credit Opportunities 4 raising the most at €3.4 billion as the fund nears it’s €4 billion target size. The fund held a first close in January 2020 and anticipates a final close for the commingled fund at the end of April this year.
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