Incepted in 2021, Ares Pathfinder Core Fund is an evergreen asset-based lending vehicle that invests in liquid and illiquid opportunities.
The firm is developing products for retirement and mass affluent investors as wealth AUM soars 41% YoY to $82 billion.
The $100 million commitment made in 2022 is under review amid concerns over fund performance, manager concentration, and a limited LP base.
The non-traded BDC accepted all 1.8 million shares tendered in Q3, with investors to receive non-interest-bearing, non-transferable promissory notes instead of immediate cash.
Withdrawal requests at Barings Private Credit Corporation reached 10.68% of outstanding shares in Q3, with just 46.84% of validly tendered shares accepted on a pro-rata basis.
The Canadian bank now holds 10.5% of Blue Owl Credit Income Corp. as shareholders sought to withdraw 16.8% of outstanding shares in Q3.
The institutional investor plans an initial $200 million allocation, citing opportunities created by redemption pressures across wealth-channel credit funds.
PIMCO Private Income Fund targets performing private credit across hard assets, financial assets, and corporate credit, including through secondaries.
The LP is also weighing the rollover of prior TAO commitments into the latest evergreen vintage, which is targeting $5-7 billion over an 18-month fundraising period.
The pension is also considering allocating to a similar evergreen credit strategy by Pemberton, in addition to a commitment to Cambridge Associates' sequel secondaries fund.
