Key Takeaways
- • Barings secured more than $19bn (£14.2bn) over a two-year period for its global direct lending strategy, with commitments from institutional, insurance and wealth investors, announced in May 2026.
- • Churchill Asset Management raised more than $16bn in January 2026 for its most recent senior lending programme, its largest capital raise to date, with commitments from roughly 325 institutional and high-net-worth investors.
- • Crescent Capital Group collected $10.8bn for its fourth US direct lending fund, the largest single-fund raise in its history, exceeding its initial target by more than $2.5bn.
- • Blackstone raised over $10bn (£7.5bn) for its fifth opportunistic credit fund in April 2026, while Antares Capital and Ares Management each secured $8.5bn for private market funds.
Summary
Institutional capital continues to flow into private credit despite negative headlines and heightened regulatory scrutiny, according to Alternative Credit Investor's review of the largest private credit fundraises in the first half of 2026. The fundraises span direct lending, opportunistic credit and asset-backed finance (ABF).
Barings announced in May that it had secured more than $19bn (£14.2bn) over a two-year fundraising period for its global direct lending strategy. The firm said institutional, insurance and wealth investors committed capital, with deployment activity targeting 355 transactions globally.
Churchill Asset Management raised more than $16bn in January for its most recent senior lending programme. The raise, the firm's largest to date, drew commitments from approximately 325 institutional and high-net-worth investors globally.
Crescent Capital Group raised the largest amount for a single fund among the firms cited, collecting $10.8bn for its fourth US direct lending fund. The fund attracted commitments from more than 100 institutional investors globally, exceeded its initial target by more than $2.5bn, and represents the largest fundraise in the firm's history.
In opportunistic credit, Blackstone raised over $10bn (£7.5bn) for its fifth opportunistic credit fund in April. Antares Capital and Ares Management also each secured $8.5bn for their private market funds. Antares received commitments from new and existing investors for its third Senior Loan Fund (SLF III), while Ares exceeded its target for an ABF fund.
Barings announced in May that it had secured more than $19bn (£14.2bn) over a two-year fundraising period for its global direct lending strategy. The firm said institutional, insurance and wealth investors committed capital, with deployment activity targeting 355 transactions globally.
Churchill Asset Management raised more than $16bn in January for its most recent senior lending programme. The raise, the firm's largest to date, drew commitments from approximately 325 institutional and high-net-worth investors globally.
Crescent Capital Group raised the largest amount for a single fund among the firms cited, collecting $10.8bn for its fourth US direct lending fund. The fund attracted commitments from more than 100 institutional investors globally, exceeded its initial target by more than $2.5bn, and represents the largest fundraise in the firm's history.
In opportunistic credit, Blackstone raised over $10bn (£7.5bn) for its fifth opportunistic credit fund in April. Antares Capital and Ares Management also each secured $8.5bn for their private market funds. Antares received commitments from new and existing investors for its third Senior Loan Fund (SLF III), while Ares exceeded its target for an ABF fund.
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