Creditflux

Pacific Advisors receives $220 million inflows for credit fund
California-headquartered Pacific Advisors has raised at least $220 million for its second private credit offering

Connecticut pension fund looks to mandate $140 million to private debt
Connecticut Retirement Plans and Trust Funds mandated $50 million to Balance Point Capital and is looking to invest up to $90 million to Intermediate Capital Group

Texas pension fund earmarks $650 million to four private debt funds
Angelo Gordon, HIG Whitehorse and Värde have secured commitments from the Texas pension fund for their direct lending funds

Sovereign investors' allocation to alternative credit increase rapidly, finds survey
Sovereign investors are increasing their exposure to CLOs, direct lending and bank loans, according to a 2018 Global Sovereign Asset Management Study published by Invesco this week

Partner in TPG's direct lending business leaves his role
Phil Fretwell has left his role as partner TPG Specialty Lending Europe, Creditflux’s sister publication Debtwire has learned

Ironwood exceeds $400 million target for fourth mezzanine fund
Connecticut-based private equity firm Ironwood Capital has held a final close on Ironwood Mezzanine Fund IV 

Alcentra strengthens European direct lending team with hires
Alcentra has strengthened its European direct lending team with Sarah Madore, Maria Garcia Diego and Joanna Layton joining the firm's London-based lending unit.

Japanese pension fund allocation to alternatives reaches record high, survey reveals
The average Japanese institutional investor now allocates 17.1% of their portfolio to alternative assets, according to a JP Morgan Asset Management survey.

CVC poaches Pemberton's head of investor relations
Global credit manager CVC Credit has appointed Mike Anderson as head of Investor Relations

Owl Rock targets $1 billion for first lien-focused loan fund
New York-headquartered credit manager Owl Rock is eyeing a massive $1 billion for its new first-lien debt focused vehicle, which will sit alongside its existing BDCs 

Oaktree's direct lending expansion gathers pace with new US fund
Los-Angeles headquartered Oaktree Capital has raised at least $85 million for its mid-market direct lending fund

Orrick adds direct lending specialist as partner
Global law firm Orrick has expanded its finance practice with the appointment of Vincenzo Paparo

Pacific Current acquires stake in Chicago-based private debt manager
Sydney-headquartered Pacific Current Group has acquired a 24.9% stake in Chicago-based Victory Park Capital

Capital Dynamics registers debut direct lending fund
Zug-based Capital Dynamics is looking to launch Capital Dynamics US Middle Market Credit Fund after establishing a private credit business over the last 12 months

BDCs turn to CLO financing as effective alternative to bilateral leverage agreements
Business development companies now have the ability to take on an extra turn of leverage, but rating constraints mean they could end up using CLOs instead

KKR eyes second European direct lending fund
New York headquartered KKR is looking to raise its second European direct lending fund - KKR Direct Lending Europe II, European regulatory filings reveal.

Danes work with Credit Suisse to bankroll direct lenders
Credit Suisse has forged an alliance with another pension fund in a partnership that will provide leverage to direct lenders

Covenant quality diminishes in direct lending market
Covenants are getting looser in the European direct lending market, according to speakers at the Debtwire European Mid-Market Forum

Hayfin looks to launch third European direct lending vehicle
European credit specialist Hayfin Capital Management is looking to launch Hayfin Direct Lending Fund III, according to regulatory filings 

Pemberton appoints head of business development
European direct lender Pemberton has expanded its senior leadership team with the appointment of Antoine Josserand as head of business development

BNP Paribas AM enters into SME loan origination partnership with Code
BNP Paribas Asset Management has formed a strategic origination partnership with CODE Investing as part of its new SME Alternative Financing platform

Neuberger's Dyal acquires minority stake in HPS
Dyal Partners, a division of Neuberger Berman, has acquired a minority equity stake in global credit manager HPS Investment Partners

Orix acquires US mid-market lender NXT
Japanese financial services firm Orix, has agreed to acquire US mid-market lender NXT Capital

Alcentra hires co-heads of US direct lending
Alcentra has moved into the US direct lending space - and has appointed Suhail Shaikh and Peter Glaser as managing directors and co-heads of its US direct lending business

Natixis IM expands private debt capabilities with MV acquisition
Natixis Investment Managers has acquired European private credit specialist MV Credit Partners