First Eagle targets $1 billion for direct lending
First Eagle is targeting a $1 billion fundraise for First Eagle Direct Lending Fund V

UK pension seeks head of ABS as it makes first foray into asset class
The investment management arm of the UK’s largest private pension fund is planning its first foray into public ABS investing

‍Saudi Arabia's PIF becomes latest sovereign wealth fund to target direct lending
‍Saudi Arabia’s Public Investment Fund has become the latest sovereign wealth fund to enter the direct lending space, anchoring a Shariah compliant private credit fund managed by NBK Capital Partners

Former Penn Mutual CLO specialist lands at US insurer
A well known CLO tranche investor has joined an insurer after eight years at Penn Mutual Asset Management

Manager beats "more than 30" to partner with Zurich Invest for European direct lending
A UK-based fund manager has beaten off competition to land a partnership with Zurich Invest

LP round up: Dutch pensions put €1.3 billion into infra debt
Institutional investors allocated over $2 billion to credit funds in January. Opportunistic credit funds were a favourite but the biggest moves came in infrastructure debt

PSP and Pretium invest $700 million in US single-family rentals
PSP Investments has entered a joint venture with Pretium Partners to invest $700 million in single-family rentals across the southeastern and southwestern US

Credit Rendezvous: heading for homes
Fund managers in structured credit, real assets and distressed are bullish on the prospects for residential housing in 2021. Elsewhere, niche royalty-based strategies are in favour and although a CLO repricing wave is expected, it may not be easy to execute resets. For more, read our 13-page quarterly report on credit. 

UK pension seeks direct lending manager for £250 million commitment
Essex Pension Fund has issued a request for proposals to allocate up to £250 million to a direct lending fund

LP round up: pensions plan private credit pacing as strategic credit takes on "midfield" role
US pensions have allocated $1.4 billion across 22 credit funds including those managed by Angelo Gordon, Ares and GoldenTree, according to recent board documents seen by Creditflux. Meanwhile a pension fund draws parallels between strategic credit and Jordan Henderson

Two managers beat 80 others for £660 million multi-asset credit mandate
The UK's Local Government Pension Scheme Central has selected two managers for its £660 million Multi-Asset Credit Fund

LP round up: Arcmont, Ares and Sixth Street win European direct lending mandates
Investors have allocated around $2 billion to credit funds in recent weeks, according to board documentation seen by Creditflux. Among those to recieve allocations include ADM, Arcmont, Ares, Audax, Bain, Centerbridge, Clearlake, Goldman Sachs merchant banking,  Invesco, Monarch, Oaktree, Raven, Sixth Street and Sound Mark

Direct lender Scio names three-person advisory board
Scio Capital, a London-based direct lender, has named three people to its newly-founded advisory board

Indiana pension allocates $160 million to CLO dislocation strategy and real estate debt
Indiana Public Retirement System has allocated $160 million to two credit funds focused on CLOa and real estate debt, according to recently released board documentation

UK pension pool takes management in-house for £1.5 billion index-linked bond fund
The UK’s Border to Coast Pensions Partnership has launched a £1.5 billion sterling index linked bond fund

Colorado pension allocates $70 million to CLO debt strategy
Colorado Fire & Police Pension Association approved a $70 million commitment to a CLO debt strategy at its 5 November board meeting

LP round up: $2.8 billion flows to credit as Apollo concedes fundraising may slow
Florida Retirement System Trust Fund made the largest commitments allocating $1.6 billion. Apollo meanwhile acknowledged a potential slowdown in fundraising as investors await results on an independent review into CEO Leon Black's relationship with Jeffrey Epstein

Low rates drive US pension towards private credit
The Iowa Public Employees’ Retirement System is one of several pensions to have increased private credit allocation recently, from 3% to 8% (around $1.7 billion)

Insurance firm seeks CLO debt and ABS exposure
Investment consultant Callan is requesting proposals on behalf of an undisclosed insurance company for a CLO manager and ABS manager

New York pension allocates $250 million to CLO fund
New York State Common Retirement Fund has allocated $250 million to a CLO-focused vehicle, according to a recently released September transaction report

Direct lending green shoots flourish despite fundraising plunge
Despite the headline figures, sources say European direct lending fundraising remains healthy and newcomers have a place to enter

LP round up: EIF backs four debt funds while Carlyle wins $1 billion
Institutional investors have allocated just over $4 billion to 27 credit managers in October board meetings

Sovereign wealth funds empower direct lenders
Sovereign wealth funds are turning toward the booming private credit market, with three massive partnerships formed this year

Air Canada pension allocates $110 million to Pretium
Trans-Canada Capital, a newly-created investment management subsidiary of Air Canada based in Montreal, has allocated $110 million to Pretium Partners' opportunistic and structured credit strategy

Owl Rock recieves $1 billion allocation from California pension
Owl Rock Capital has recieved a $1 billion allocation from the California State Teachers' Retirement System. The mandate will fund Owl Rock's opportunistic credit and diversified lending investments