Creditflux

US university backs private credit fund
The University of Michigan Regents has committed to a private credit fund that purchases small balance commercial and industrial loans

Californian pension commits $15 million to Angelo Gordon credit fund
San Mateo County Employees' Retirement Association (SamCERA) has approved a $15 million commitment to a fund managed by Angelo Gordon, according to documents seen by Creditflux  

Astor and Armory team up for US mid-market credit interval fund
Astor Investment Management has teamed up with Armory Capital to launch a middle-market credit interval fund, according to US regulatory filings

BlackRock targets €2.5 billion as it completes first close on European mid-market fund
BlackRock European Middle Market Private Debt Fund II, having collected €1.5 billion at first close, is expected to hold a final close in the first half of next year at around €2.5 billion, according to market sources 

UK pension partnership launches maiden private credit offering at £581 million
Border to Coast Pensions Partnership (BCPP) is set to commit £581 million in private credit, as part of its maiden offering in this asset class  

CSAM launches first commingled fund geared towards CLOs
Credit Suisse Asset Management has launched its inaugural CLO equity fund, according to market sources, collecting nearly $150 million on a first close for the strategy

West coast pension looks to step up direct lending allocations
The City of Fresno Retirement System will commit $140-160 million to private credit for the next two years, according to board documentation seen by Creditflux. This comes amid a pause in direct lending commitments for the pension fund, which has not committed any capital to this market in 2019

CIC collects €530 million for direct lending fund
CIC Private Debt has collected €530 million on its third senior debt fund, surpassing its original €450 million target size

Minnesota pension to invest $300 million in distressed and private credit funds
Minnesota State Board of Investments is set to invest $100 million in a mezzanine debt fund and $200 million in a distressed debt fund

Arizona pension to deploy up to $700 million a year in private credit
Arizona Public Safety Employee System is looking to deploy $600-700 million in private credit strategies per year in order to meet its target allocation, according to board documents seen by Creditflux.

Beechbrook appoints chariman for Irish SME fund
The appointment is in conjunction with Beechbrook's first investment in the Irish SME fund, which held a first close in July 

UK pension Nest selects manager for £500 million global bond allocation
Nest, the largest pension scheme in the UK with over 8 million members, has selected a manager to oversee a £500 million separately managed account focused on global corporate bonds

LibreMax wins $200 million for structured credit managed account
The managed account will target 10 to 40 investments across a range of different strategies including CLOs, consumer, residential, commercial and regulatory capital.

Online lender launches German credit fund with EIF backing
A senior debt fund managed by Creditshelf has recieved a cornerstone investment from the European Investment Fund - where all loans will be originated via its online lending platform

Atalaya closes seventh special opportunities fund at $950 million
Atalaya Capital has held a final close on its seventh special opportunities fund, having called about 28% of capital and has made 15 investments

Eiffel seeks ESG loans as French lenders adopt LuxFlag label
Private debt managers are applying for the Luxembourg Finance Labelling Agency’s (LuxFlag) approval in ESG-centric strategies.

Fresh wave of investors to boost direct lenders
European direct lenders raised €18.3 billion across 13 funds in the first half of this year, according to the Creditflux direct lending database, but that could be just the tip of the iceberg.

Inflows boost structured credit mutual funds
Low rates have seen loan mutual funds battle $42 billion of outflows this year, but structured credit funds have been able to grow while capitalising on this volatility, according to sources.

Proventus Capital closes fourth private debt fund at €1.8 billion
Fund IV has completed nine investments and is around 20% deployed

Private credit growth helps Hamilton Lane 13% growth in AUM
Alternative manager Hamilton Lane has reached $481 billion in assets under management and advice as of September, with credit funds supporting the organisation’s growth  

Pathlight raises $450 million for asset-based loans
Pathlight Capital has held a $450 million final close on its inaugural asset-based loan fund, Pathlight Capital Fund I

Idinvest holds €200 million first close on Private Debt Fund V
Idinvest has held a €200 million first close on its fifth private debt fund, according to Creditflux sister publication Unquote. The manager is targeting a €1 billion final close

Newly formed Italian asset manager launches direct lending fund
Equita Capital is seeking a first close of its second private debt fund by February 2020, Creditflux has learnt. The fund is understood to have an ESG focus  

BlueBay launches CLO fund with seed capital from parent RBC
Sources say the strategy launched earlier this year via an Irish fund structure with seed capital provided by BlueBay’s parent company, RBC

Mirabaud to launch emerging debt fund with fixed term
Mirabaud Asset Management has announced the setup of a new fixed maturity emerging markets debt strategy, available for euro-based investors