Creditflux

Cross Ocean sails to $1 billion finish line for two funds
Cross Ocean Partners has raised over $1 billion in capital commitments for two of its funds, the firm has announced

Texas pension fund backs distressed debt specialist with $25 million
Texas County and District Retirement System (TCDRS), the $30 billion public pension fund, committed $25 million to Redwood Opportunity Domestic Fund on 1 October.  

Still weighed down by 2015 oil price slump
It’s three years since the depths of the oil crisis but offshore service companies — such as the helicopter businesses that transport workers to oil rigs — are not seeing lift-off in prices or profits

August: fund performance
CLO spreads jumped wider in August, but funds that invest in these assets have been able to outperform

September: credit funds at a glance
White Oak Global Advisors held a $2.1 billion final close on a new direct lending fund, while Phil Raciti's move from CVC Credit Partners to Halcyon Capital Management was one of the biggest moves in the credit industry

Astaldi credit event question posed as its distress weighs on iTraxx Crossover
Astaldi, a constituent of iTraxx Crossover, has been referred to ISDA-hosted Credit Determinations Committees as a possible bankruptcy credit event – less than two weeks after the index rolled into a new series

Lord Abbett markets new credit interval fund
The asset manager becomes the latest to join the interval fund rush 

CIFC hires team of four for distressed credit push
CIFC, a manager specialising in US corporate and structured credit, is building out its distressed debt capabilities with four senior hires in anticipation of a maturing credit cycle

M&G targets £250 million for UK-listed multi-strategy credit fund
M&G is targeting £250 million (£328.6 million) for a new closed-end investment trust, which will be listed in the UK

BTIG brings in high yield and distressed sales specialist
BTIG has strengthened its credit team with the appointment of a managing director focused on high yield and distressed sales

Cheyne hires ex-BlueBay official to its new loans business in London
Cheyne Capital Management has finalised the formation of its strategic value credit business with Richard Cazenove joining as partner and senior portfolio manager after leaving BlueBay Asset Management earlier this year

HPS expands in distressed debt by taking over Dallas-based Tålamod
HPS Investment Partners has struck a deal to bring on board the investment team from Dallas-based distressed debt specialist Tålamod Asset Management

Goodhart unveils new platform to invest in private debt and equity firms
London-based Goodhart Partners has launched a new platform to focus on strategic minority investments, predominantly in private debt and private equity firms.

Louisiana pension fund to increase exposure to private debt
The $21 billion pension fund plans to add new commitments to its private debt program in a bid to match its 8% target allocation

American Beacon teams up with Apollo for credit interval fund
Regulatory filings reveal that Apollo will allocate assets across four main areas: US corporate credit, global corporate credit, structured credit and real estate credit

Pimco adds two former Tennenbaum officials as portfolio managers
Fixed income specialist Pimco has poached former Tennenbaum Capital Partner officials Geoffrey Jones and Gabriel Goldstein

EQT adds director to credit opportunities team
EQT Credit has made a hire from Santander in London

Texas pension awards $175 million to distressed debt and strategic credit
The $30.1 billion Texas pension fund has mandated $175 million to Arbour Lane and Marblegate 

Four private credit managers score as Arizona pension fund commits $250 million
The $9.78 billion pension fund has mandated nearly $250 million to four private credit managers, alongside additional commitments for co-investment opportunities 

Rolling the dice on Turkey and Italy
Gambling specialists with operations around the Mediterranean are facing political risks and currency falls – but there are opportunities to hit the jackpot if investors play their cards right

Louisiana pension fund assigns $200 million to DoubleLine and GoldenTree
Louisiana State Employees' Retirement System has allocated to distressed debt and mortgage credit funds run by two experienced asset managers

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 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 

Värde picks up $250 million for Asia credit fund in just four months
Värde Partners has gained $250 million total sales in just four months for its Asia-focused credit fund, US regulatory filings show

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