For the second time in a week a listed credit fund has launched a capital raising, underlining the popularity of the sector in a yield hungry market.Metrics Credit Partners' MCP Master Income Trust aims to raise up to A$638 million through a non-renounceable entitlement offer and shortfall offer priced at $2 a unit. Units have traded as high as $2.08 this year and closed at $2.04 the day the offer was announced.The Metrics offer comes only a few days after Neuberger Berman launched an entitlement offer and shortfall offer, seeking a maximum of $749 million for its NB Global Corporate Income Trust.The Metrics offer is being managed by Morgans Financial, Ord Minnett, Taylor Collison and Wilsons Corporate Finance. Co-managers are Bell Potter and Escala.Metrics managing partner Andrew Lockhart says the capital raising will improve the trust's liquidity and lower costs. Lockhart says the group has a "strong pipeline" of investment opportunities.The trust was listed in October 2017, with a target distribution rate of the RBA cash rate plus 3.25 per cent. It invests in a portfolio of corporate loans.Since then it has delivered cash income of 5.45 per cent a year. Over the 12 months to the end of last year, it delivered income of 5.55 per cent. Metrics has more than $5 billion of assets under management.This is the second capital raising for the trust since it was listed. Last year it raised $400 million.Neuberger Berman's offer is for three new units for every existing four units in the NB Global Corporate Income Trust, with an offer price of $2.05 per unit (based on the NTA per unit on 17 January 2020).The joint lead managers of the offer are Bell Potter, E&P, Morgans, NAB and Ord Minnett. The co-manager is Cannaccord Genuity.The NB Global Corporate Income Fund invests in global high-yield corporate debt securities. The manager is targeting monthly distributions equivalent to at least 5.25 per cent a year, with modest growth in assets over time.It was listed on the ASX in September 2018, with a capital raising of $413 million. The annualised distribution rate for the financial year ended 30 June 2019 was 6.24 per cent, net of fees and expenses.For the six months to the end December, the fund paid an annualised rate of 5.25 per cent, net of fees and expenses.Neuberger Berman has been an investor in the high-yield credit market since 1997. According to the product disclosure statement accompanying the offer, it has had "only one defaulting bond in all of its high-yield strategies since 1997".Demand for credit funds has been strong over the past couple of years, as investors have chased higher yields. One of last year's big ASX listings was the KKR Credit Income Fund, which raised $925 million.Metrics Credit Partners followed up the listing of the Master Income Trust in 2017, with the listing of the $300 million MCP Income Opportunities Trust in March last year.Perpetual listed the Perpetual Credit Income Trust in March last year and late in 2018 Qualitas Group