Creditflux

Swedish pension fund's credit portfolio recovers with strong 2018 results
Andra AP-Fonden (AP2), the SEK 352.4 billion ($38.7 billion) state-owned pension fund, generated 5.6% absolute returns from non-domestic credit investments for the first half of 2018

Shetland Islands pension looks to terminate bonds and introduce direct lending
A UK pension fund is looking to terminate its bond mandate and introduce a 12.5% direct lending and 12.5% alternative funds asset allocation, according to board documentation seen by Creditflux

Distressed debt outperforms as Texas pension fund's credit strategies gain 11.2%
Texas County and District Retirement System (TCDRS), the $30 billion pension fund, generated 11.2% annualised returns from its credit portfolio for the year ending 30 June. Distressed debt was a major positive, but IG credit lost value

Californian pension fund commits $25 million to new US direct lending fund
A $3.01 billion pension fund has invested $25 million to a US direct lending fund managed by Twin Brook Capital Partners 

US pension fund's new private credit portfolio delivers strong early returns
A US pension fund recently created a private credit bucket and this has generated 9.25% time-weighted returns

Californian pension fund moves $35 million into distressed debt
Sacramento County Employees' Retirement System has made a $35 million commitment to a distressed fund TPG Sixth Street Partners 

US pension fund's credit performance stumbles with 2.3% 12-month return
Maryland State and Retirement & Pension System, the $51.9 billion public pension fund, generated 2.31% returns from its credit portfolio for the fiscal year to June 30, down from 10% the year before

Maine pension bolsters private credit allocation with $100 million mandate
The pension fund mandated $100 million to a US direct lending firm, after it was underweight its 5% target allocation to alternative credit 

New York pension fund earmarks $200 million for real estate debt
New York State Teacher’s Retirement System (NYSTRS) has awarded a $200 million commitment to real estate debt provider Raith Capital Partners

London-based direct lender wins as San Francisco pension fund deploys into private credit
A Californian pension fund has mandated $60 million to a strategic credit fund, as part of its private debt pacing plan to deploy up to $750 million to private debt annually

CPPIB moves into Australian real estate debt fund
The $272.6 billion Canada Pension Plan Investment Board has partnered with Sydney-based Challenger Investment Partners to provide middle market real estate loans in Australia and New Zealand 

Barrow Hanley gets started with $25 million seed investment for debut loan fund
Barrow Hanley MeWhinney & Strauss's new loan investment business has got off to a strong start with a $25 million seed investment

New York pension fund earmarks $200 million to two private debt managers
The $115.5 billion pension fund has made $100 million commitments to two private debt managers in Q2 

Private credit helps drive returns for Alaska pension fund
The $64.9 billion sovereign wealth fund has generated 8.79% returns from private credit for the fiscal year ended 30 June

Consultant calls on investors to quiz managers over ESG processes
The lack of consistent and reliable data seems to be a major challenge when embracing environmental, social and governance (ESG) criteria across private equity, infrastructure and credit.

Italian pension fund seeks direct lending managers
Previndai, the €11bn pension fund for managers of industrial companies, has issued a notice seeking global and European direct lending managers

Private debt tops the tables for Industriens Pensionsforsikring
Industriens Pensionsforsikring, the DKK164.5 billion ($25.7 billion) pension scheme, generated a 1.6% return from its private debt portfolio, according to its mid-year 2018 results

Texas pension fund puts $150 million into credit
A $29.7 billion pension fund has approved commitments to two credit fund managers

Audax wins $100 million direct lending mandate from US pension fund
The $3.5 billion Pennsylvania State Employees Retirement System has awarded $100 million to a US direct lending fund managed by Audax Group

Californian pension fund assigns $25 million to Monroe direct lending strategy
As part of its private credit pacing plan, the $5.4 billion pension fund will make a $75 million commitment to direct lending funds each year for the next three years

Japanese pension fund Chikyoren seeks private debt managers
Chikyoren, the pension fund allocation for local government officials in Japan, has issued a request for proposal in its search for private debt managers.

Californian pension fund looks to increase exposure to opportunistic credit
Merced Country Employees Retirement Association (MCERA) may increase its exposure to opportunistic credit, according to documents seen by Creditflux

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

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

Ohio pension fund seeks to deploy $200 million in private credit
An Ohio pension fund is looking to commit $200 million to private credit in the next year