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Iowa pension allocates $50 million to two private credit managers
3 years ago
Municipal Fire and Police Retirement System of Iowa has funded a commitment to credit after cutting infrastructure allocation by 2% -
Two managers beat 70 for £900 million emerging market bond mandate
3 years ago
LGPS Central has selected two external managers for its £900 million Global Active Emerging Market Bond Fund -
US manager wins $250 million for talf managed account
3 years ago
Massachusetts Retirement Board has earmarked $250 million to a term asset backed facility managed account, according to documents seen by Creditflux -
Sculptor doubles global credit exposure in master fund amid dislocation
3 years ago
Sculptor Capital Management has doubled its global credit exposure in its Master Fund during the covid-19 volatility, according to the firm’s Q1 earnings call -
Waiting game pays off for European pension fund
3 years ago
Finnish pension fund Ilmarinen has been investing more in European CLO tranches after valuations dipped to their lowest levels in a decade, thanks to a distressed CLO fund strategy it put in place two years ago. -
University of Kentucky awards $40 million to two fixed income managers
3 years ago
University of Kentucky awarded $40 million to two fixed income managers at its 6 April board meeting -
KKR takes covid-19 hit on flagship credit funds and lev fin
3 years ago
KKR took a 16% hit to returns on its alternative credit flagship funds amid the first quarter coronavirus downturn and a 13% loss on leveraged credit, taking these into negative territory for the last 12 months. The firm's private equity portfolio also slumped by 12% -
Metropolitan launches fund and finds PE sponsors 'more amenable to non-sponsored terms'
3 years ago
Metropolitan Partners has closed an onshore direct lending fund at $240 million. It focuses on non-sponsored companies and has not made an investment in a sponsored deal for three years. But the firm sees an increasing number of sponsored situations arising from the covid-19 disruption -
Ares raises $3 billion special situations fund ahead of huge European direct lending launch
3 years ago
Ares Management has witnessed “accelerated fundraising” for its special situations fund, which it has closed at around $3 billion, according to the firm’s earnings calls. The firm also launched its fifth European direct lending fund this week, which Ares expects could be “the largest private comingled fund in its history” -
On-site due diligence rules pose fundraising challenge
3 years ago
Stipulations in some fund limited partner bylaws dictating strict due diligence could pose a challenge for asset managers, sources say -
Private credit dangers lurk, but fear drives inflows
3 years ago
Fear of missing out is one reason institutional investors are allocating to private credit, but market participants say that investors should err on the side of caution, despite the number of attractive opportunities -
Credit funds at a glance (May 2020)
3 years ago
A round-up of fundraising and people moves -
Cairn wins €115 million for European loan fund
3 years ago
Cairn Capital's open-ended European Loan Fund has reached €380 million assets under management, following €115 million in commitments from two institutional investors -
OFS and CIM team up for fund geared towards loans, CLOs and real assets
3 years ago
Credit-related investments in the new interval fund will include floating and fixed rate loans, broadly syndicated senior secured corporate loans, CLO debt and equity tranches and opportunistic credit -
New Hampshire pension invests $50 million in US direct lending
4 years ago
New Hampshire Retirement System has allocated $50 million to a US direct lending manage with which it has a relationship, having committed $40 million and $50 million to predecessor funds -
Florida pension allocates $600 million to three credit managers
4 years ago
Florida State Board of Administration has awarded $600 million to three credit managers in the first quarter, according to a board update seen by Creditflux -
Apollo earmarks $20 billion for dislocation fundraising over 12 months
4 years ago
Apollo's returns for corporate credit, structured credit and direct origination in the first quarter were down 8.3%, 14.7% and 4.8%, respectively, but the firm is looking to launch various credit strategies, including capital solutions, dislocation strategies and distressed strategies, that it “expects to accumulate $20 billion over the next year” -
Two US managers launch CLO funds geared towards dislocation
4 years ago
Tetragon Credit Partners and Octagon Credit Investors have become the latest managers to launch a CLO fund geared towards taking advantage of coronavirus-related distressed buying opportunities -
GSO eyes $7 billion for credit opps fund and closes $4.8 billion European direct lending fund
4 years ago
GSO is eyeing a $7 billion target size for a new credit opportunites fund. The New York-based manager recently closed its second European direct lending fund, GSO Senior European Debt Fund II, at $4.8 billion -
Angelo Gordon wins third opportunistic credit mandate with US pension
4 years ago
The familiar tale of investors favouring existing relationships shows as Angelo Gordon recieved $25 million for an opportunistic credit fund from a pension with two existing commitments to the New York-based manager -
Carlyle defers $4 million CLO sub fees after loan downgrades
4 years ago
Carlyle Group deferred $4 million CLO subordinated fees in the first quarter, as a result of rating downgrades across the industry, the firm's quarterly earnings call revealed -
KKR deploys 10% of $2 billion coronavirus dislocation credit fund
4 years ago
KKR Credit has plans to launch a $2 billion dislocated corporate and asset backed credit fund to take advantage of coronavirus-induced volatility. And the New York-based manager has wasted no time swooping on opportunities after deploying $212 million by 9 April -
Deerpath outlines $1 billion target for lower mid-market direct lending fund
4 years ago
Deerpath Capital has outlined an ambitious $1 billion target size on its lower middle market direct lending fund, according to market sources. The manager expects a final close of the fund in Q3 -
Fidelity and Loomis Sayles win IG and securitised credit mandates
4 years ago
Fidelity Institutional Asset Management and Loomis Sayles have beat out the competition to manage Employees System of Rhode Island’s investment grade corporate credit and securitised credit plans -
CVC raises $657 million for US direct lending fund
4 years ago
CVC Credit Partners has raised $657 million for its US direct lending fund, CVC Credit Partners US Direct Lending Fund II, exceeding its original $500 million target size
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