Creditflux

Kartesia opens Munich office for new hire Mirante
The new office is Kartesia’s seventh in Europe and second in Germany

Cerberus scores $100 million add-on for SMA as LPs favour existing relationships
North Dakota State Investment Board is looking to extend its partnership with direct lender Cerberus, in a bid to maintain its desired allocation to the direct lending asset class

Highland LP’s bankruptcy could trigger power grab, as hunt for assets begins
Creditors to Highland Capital Management's limited partner subsidiary are calling for a change of management to handle the firm's emergence from bankruptcy protection

Public private sector partnership launches impact debt fund
Warrington Borough Council and Altana Wealth have joined forces to launch a private debt fund that invests in social impact investments in the UK  

Beechbrook adds ex-Lloyds official to lead deal origination in Midlands
UK-based direct lender Beechbrook Capital has added a former Lloyds Banking Group official to lead deal origination in the Midlands

UK pension hires BNP Paribas AM for starring role in core-satellite private credit fund
UK pension fund Nest has appointed BNP Paribas Asset Management to run the core of a private credit fund, sources say, in an arrangement which sees Amundi and BlackRock manage certain satellite investments  

Baker McKenzie hires co-head of North America leveraged finance from Kirkland
Based in New York, the hire will work closely with co-head Garry Jaunal, who also joined from Kirkland a few years ago 

Maine pension boosts alternative credit bucket with $50 million US special situations mandate
The $14.9 billion pension fund continues to be underweight its 5% target allocation to alternative credit 

Cordet confirms senior direct lending appointment in London
Cordet Capital Partners has appointed Rothschild’s former co-head of direct lending as its chief credit officer, following the departure of current CCO Björn Börjesson

Medley BDC finds no "superior proposal" to merger plans after go-shop process
Medley Capital Corporation (MCC) has not found a “superior proposal” for its plans to merge with another Medley-managed business development company and instead recommends that shareholders vote for its amended agreement.

Weil brings in direct lending specialist from Kirkland & Ellis in Hong Kong
He primarily advises direct lending funds and borrowers on cross-border leveraged and acquisition finance transactions

Macquarie appoints ex-UBS official to build new asset-based finance business
Macquarie Capital is building a asset-based finance platform has appointed ex-UBS official to lead the new group

US university backs Kayne's mid market fund
The University of Michigan Regents has committed $25 million to  mid market fund with a flexible remit 

DWS holds €350 million first close for inaugural direct lending fund
DWS has garnered €350 million on the first close of its inaugural European direct lending strategy, according to an announcement by the firm

US pension allocates to Golub in bid to boost 'non-core fixed income' bucket
The State of New Mexico Investment Council has awarded $100 million to a senior debt fund managed by Golub Capital Partners, as part of a plan to bolster its non-core fixed income bucket

Boston pension looks to allocate $60 million to private debt
The Boston Retirement System has launched a request for proposals in which it seeks a manager to oversee a $60 million private debt portfolio

US pension injects $300 million into mezzanine debt and high yield
Virginia Retirement System has earmarked $300 million for investments in high yield and mezzanine debt, according to a document seen by Creditflux.  

CVC adds Alcentra official to investor relations team in London
CVC Credit Partners has appointed a managing director in its investor relations team from Alcentra 

Emerging markets specialist Albright sells minority stake to Goodhart
Goodhart Partners has purchased a minority stake in Washington DC-based Albright Capital Management, which is an emerging market debt manager, according to an announcement today

Direct lending across the Atlantic: Creditflux unveils two direct lending reports
Creditflux is pleased to unveil two direct lending reports with the third edition of European Direct Lending Perspectives now available, along with the inaugural US Private Credit Perspectives report.

Russell and Mediobanca launch multi-asset fund with CLO allocation
Mediobanca Private Banking has joined forces with Russell Investments to set up a fund that has a 20% allocation to credit, sources say  

NNIP's private debt head moves to private equity job
The team leader for direct lending, loan portfolio financing and non-performing loan securitisations at NN Investment Partners has moved to a senior private equity job at AnaCap Financial Partners

Ropes & Gray adds two global finance partners in New York
The law firm has poached two partners from Willkie Farr & Gallagher

Management fee compression brings US direct lenders in line with Europe
US direct lenders are cutting management and performance fees in an attempt to win mandates from international investors and bring fees in line with European direct lenders, according to research from Bfinance

Njord closes second European special situations fund at €271 million
Njord Partners has closed its second special situations fund, Njord Partners Special Situations Fund II, at €271 million