Creditflux

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  

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 

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 

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.  

Arkansas pension shakes up credit portfolio
Arkansas Local Police and Fire Retirement System has made changes to its credit portfolio, adding new commitments to credit managers and terminating some existing relationships, according to a document seen by Creditflux  

ESG education top priority for 42% of institutional investors, CFA Society finds
Global Institutional investors are increasingly adopting ESG into their investment decision making – but education on the topic and quality ESG data are needed to help them progress, according to a survey conducted by CFA Society in New York

Swiss wealth management specialist launches impact investing unit
Reyl Group has launched an impact investing asset management affiliate known as Asteria Investment Managers  

Narrowly tailored event protocol set to go live in weeks
Investors have until 14 October to sign up to an Isda protocol aimed at stamping out narrowly tailored credit events (NTCEs) from the CDS market.

Roll week leaves CDS in strange places
CDS traders navigate a much-changed landscape in October, after one of the most impactful index rolls in recent times. 

Welshcake: It may seem a bit rich for Welshcake to tell staid CLO investors they need to be more sensible
Bespokes are the next big thing — and you’d be wise to get involved

For a while, it seemed like every private equity fund was launching a credit fund

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

Insight, M&G and Royal London win big sterling IG mandate
Border to Coast Pensions Partnership has appointed three investment firms as external managers, to an investment grade credit fund, set to be launched in 2020.  

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

Danish pensions join forces on green strategy
Danish Prime Minister Mette Frederiksen has announced that Danish pension funds are set to commit DKK350 billion in green investments, during an event prior to UN Climate Summit in New York  

Michigan pension commits over $300 million to credit
State of Michigan Retirement System has earmarked $302 million for new commitments to credit during the period April to June 2019, according to a document seen by Creditflux.  

California pension backs Owl Rock direct lending fund
Alameda County Employees’ Retirement Association (Acera) has earmarked $80 million for a direct lending fund managed by New York based manager Owl Rock

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

Connection backs European CLO fund
Connection Capital has invested €5.2 million in the new CLO fund raised by Permira Debt Managers  

Texas pension to lift direct lending budget to $250 million
Texas County & District Retirement System (TCDRS) is considering investment in a number of direct lending funds, with existing and new managers, according to documents seen by Creditflux  

Massachusetts pension seeks emerging market debt manager
Quincy Retirement System, a US pension fund, has launched a request for proposals seeking an emerging market debt manager to run a $6 million portfolio    

Californian pension backs infra debt fund
Sacramento County Employees Retirement Scheme (SCERS) has awarded $40 million to a US infrastructure fund managed by IFM Investors, according to a recent report of investment activity by the pension fund.