The Credit Crunch 07/05/23

Your weekly summary of Private Credit Fundraising

Oak Hill Advisors, a New York based alternative investment manager, announced the final close of its $2.2 billion Credit Solutions II Fund. The fund is over twice the size of its first fund. Oak Hill lends across the capital structure to larger corporates in North America and Europe. The firm sources transactions from sponsors, companies and advisors, targeting companies whom the syndicated markets do not provide a good fit. More here

Anchorage Capital Group, a New York based investment advisor, announced the launched of its $1 billion Anchorage Credit Opportunities VIII fund. The fund will invest in distressed debt and special opportunities in the US and Europe. Anchorage was founded in 2003 by Kevin Ulrich and Tony Davis. Anchorage Capital Group was one of the biggest hedge-fund investors in distressed debt prior to closing its flagship fund in 2021. More here

FC Capital, a Sydney based alternative lender, launched its $330 million Senior credit fund. The fund will lend to mid-market companies in Australia and New Zealand with EBITDA of between $30 - $60 million. The fund will target double digit returns, with monthly distribution and returns anticipated between 10% and 12%. More here

Accel-KKR, a California based private equity fund, announced the second close of its $350 million Accel-KKR Credit Partners II fund. The fund lends to leading US and European software businesses. More here

Claret Capital Partner, a UK based Venture Debt Lender, closed its $80 million Opportunity Fund. The fund will lend to its high performing companies from its existing portfolio. Claret lends to growing venture backed business predominantly in Europe. The fund closed its $300 million Claret European Growth Capital Fund II in August last year. More here