US asset management giant Carlyle has held a first close on more than $1bn for its maiden credit opportunities fund, according to a person familiar with the matter, FN's sister publication Private Equity News reports.

The fund, which is targeting more than $2bn, is part of the firm's wider push into private credit, which has involved raising a number of new strategies in recent months including an $800m structured credit fund that closed at the beginning of this year.