Managers offer solutions for underfunded pensions
Credit managers are tapping UK defined benefit pensions that are battling negative cashflows

HarbourVest closes $833 million credit opportunities fund
HarbourVest Credit Opportunities Fund II will target a 13-16% net internal rate of return with a portfolio of around 70% credit and 30% equity

Alcentra's global CLO fund closes at $484 million and over 50% deployed
Alcentra has closed its fourth global CLO fund, Alcentra Structured Credit Opportunities Fund IV, at $484 million

CPPIB reveals $600 million in credit investments across France, India and US
Canada Pension Plan Investment Board has revealed $600 million in credit allocations to three managers

Canadian pension Imco allocates $500 million to Ares
Investment Management Corporation of Ontario has revealed a $500 million allocation to a large credit manager that includes $400 million to a fund-of-one

US pension hunts for opportunistic credit manager
Managers have until 4pm ET on Tuesday 1st June to complete the request for proposal

LP round up: $3.2 billion flows to 21 managers as private credit illiquidity premium holds firm
Investors allocated at least $3.2 billion to credit managers in April - and direct lending funds were in favour with Churchill and Ares being awarded two mandates

Park Square collects €1.8 billion for European mezz debt fund
With leverage, Park Square expects the strategy to have €2.2 billion of investable capital

Carlyle and Aflac officials lead new ACC committee with ESG template outlined as priority
The Alternative Credit Council has launched an ‘investor manager committee’, chaired by Carlyle Group’s Erica Frontiero and Elena Boeva from Aflac Global Investments, that has ESG in private credit as one of its first orders of business

Ares flush with cash after raising €15 billion for European direct lending
Ares Management has raised one of the largest European direct lending funds on record and, with leverage, the fund expects to have a whopping €15 billion to deploy

US pension terminates three credit mandates due to 'underperformance' and relative value
The New Mexico pension terminated one multi-asset credit mandate and two bank loan mandates

Carlyle senior credit investor joins fintech firm as CFO
An experienced credit investment professional at the Carlyle Group has moved to become chief financial officer at fintech company NoviCap

BlackRock wins €400 million ESG private debt mandate
BlackRock has won a mandate to manage an ESG focused European private debt fund from a Munich-based firm

Los Angeles pension opens search for private credit consultant
The Los Angeles Fire & Police Pension is on the hunt for a private credit investment consultant after recently adopting a 2% allocation

Credit fundraising: Goldman Sachs direct lending fund takes March figures to $23 bn
Credit funds sprung forward in March as $23 billion was raised alongside $2.6 billion worth of allocations to credit managers. 

LP round-up: $2.6 billion flows into 26 credit managers
A stuck ship in the Suez Canal may have prevented others from getting through one of the world's busiest waterways in March, but allocations to credit funds were much more free flowing as investors poured over $2.6 billion into the hands of credit managers

Texas pension allocates $50 million to CLO fund
The comes amid a flurry of allocations to CLO funds

Eagle Point diversifies from CLOs as it wins $180 million for BDC lending strategy
A US public pension has earmarked $60 million for Eagle Point's fund and a further $120 million for a separate managed account

Los Angeles pension seeks global credit manager for $880 million mandate
Flush with cash? The Los Angeles Water & Power Employees' Retirement Plan has launched a request for proposal for its ‘active extended global credit’ mandate. But only managers with $50 billion under management need apply

US pension eyes 2% CLO mezz and equity allocation
Investment consultant NEPC has advised a pension on evaluating CLO manager opportunities over the next few months

Michigan pension discloses $100 million allocation to CLO fund
The State of Michigan Retirement System has revealed it allocated $525 million to credit funds from September to December - including one CLO fund

Connection anchors sterling share class in European private credit fund
Connection Capital says it has raised £3 million (€3.5 million) from its high net worth client base to invest in a manager's direct lending fund 

Four managers win lucrative $700 million credit mandate
A $39 billion pension has selected four managers for an opportunistic credit mandate and identified a further four ‘bench’ managers 

Manager holds €135 million interim close on Italian private debt fund
The vehicle has a €200 million target and €250 million hard cap

Cerberus racks up $4.4 billion for US direct lending strategy
Cerberus Capital Management has held a final close of its latest US mid-market direct lending fund, Cerberus Levered Loan Opportunities Fund IV