Creditflux

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

Texas pension awards $150 million to real estate debt fund
Texas County and District Retirement System has awarded $150 million for a global real estate debt fund managed by Blackstone

Orchard targets CLO investments in fruitful year of fundraising
Orchard Global Asset Management is in the process of fundraising for its first CLO focussed fund, according to market sources. The firm is targeting the global CLO market and looking across the capital stack.

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  

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 

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

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.  

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  

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

Partners Group brings global private debt strategy to Australian retail investors
Partners Group has bolstered its private debt offering to retail clients, collecting AUD550 million for a private debt offering which has been listed on the Australian Securities Exchange.

Past returns: From zero to $7.6 billion in five years
Five years ago in Creditflux we reported that Angelo Gordon was planning to move into US direct lending. Shortly after that the firm created a middle-market subsidiary known as Twin Brook Capital Partners and drafted in Trevor Clark and Chris Williams to lead the venture after the pair had left Madison Capital in 2013.

Veteran Ulmer targets array of private credit for new firm
Andrew Ulmer, who led the structured finance expansion at Brevan Howard, has resurfaced with his own asset management company, 1543 Capital, according to documents seen by Creditflux.

Portfolio Advisors wins $75 million for third mezzanine credit fund
Connecticut-based Portfolio Advisors has been backed by a US pension scheme and has plans to launch a senior debt initiative focused on first lien senior secured loans

Walton amasses $1.3 billion for second real estate debt fund
The fundraising doubles that of Walton's inaugural debt fund, Walton Street Real Estate Debt Fund I, which closed at $654 million

Federated's US and European businesses launch high yield impact funds
Federated Investors, Hermes Investment Management and UBS have joined forces to launch new high yield credit funds, which are in line with the United Nations Sustainable Development Goals (SDG) framework. The vehicles take the form of a Ucits offering and a mutual fund

Fair Oaks launches new fund targeting senior CLO paper
Fair Oaks Capital has launched a Ucits fund targeting triple and double A CLOs, according to market sources

Morgan Stanley registers new BDC with US regulators
Morgan Stanley Investment Management filed a statement with US regulators yesterday to register a business development company

Pimco's evergreen private debt fund attracts another US pension
Seattle City Employees’ Retirement System has become the latest manager to commit to Pimco's open-ended private credit fund 

California pension approves $10 million for Owl Rock first lien loan fund
A US pension fund has awarded $10 million to Owl Rock First Lien Fund, managed by middle market lender Owl Rock Capital Advisors

Allianz GI launches impact private debt and equity fund
The fund, which adds to its €6 billion assets under management of impact investments, will target a 5% to 7% internal rate of return 

Bridge builds $1.5 billion US real estate debt fund
The fund has recieved a $25 million commitment from Ventura County Employees’ Retirement Association as part of its private credit pacing plan

Pictet adds emerging market debt fund with ESG focus
Pictet Asset Management has added to its emerging market debt fund suite with the launch of a Luxembourg-domiciled mutual fund

Schelcher nears €300 million first close of European direct lending fund
The strategy - mainly focused on France - has recieved a €40 million commitment from the European Investment Fund

Maryland pension allocates $25 million to evergreen private debt fund
Anne Arundel County Retirement and Pension System has allocated $25 million to an evergreen private credit fund managed by Pimco