Fund Friday: Top fundraising news in private equity

Blackstone has raised $10bn for its latest opportunistic credit fund, capitalising on investor demand to deploy capital amid volatility in private debt markets, according to sources cited by Bloomberg.

The fund, Blackstone Capital Opportunities Fund V, closed at its hard cap and represents the firm’s largest-ever vehicle dedicated to opportunistic credit.

The strategy will invest across both performing and opportunistic credit, with a focus on assets that may be undervalued in the current market environment.

Morgan Stanley is preparing to launch a new private credit vehicle to capture opportunities in a market facing heightened redemption pressure, according to a US SEC filing cited in a Bloomberg report.

The North Haven Strategic Credit Fund will invest across a broad range of credit strategies, including direct lending, securitised debt, real estate credit, and high-yield bonds.

Structured as an interval fund, the vehicle is expected to allow redemptions of up to 5% of outstanding shares each quarter, reflecting standard liquidity constraints in private credit.

Court Square Capital Partners has closed its fifth flagship fund at $3.8bn, significantly exceeding its $3.0bn target and marking the largest fundraise in the firm’s history.

The oversubscribed vehicle highlights continued investor appetite for middle market buyout strategies, with more than 40 new investors joining from over 20 countries, including pensions, asset managers, insurers, and family offices.

The firm has reinforced alignment with limited partners through a substantial GP commitment, continuing its long-standing approach of co-investment alongside investors.