Ann Arbor retirement system approves commitment to direct lending fund
The City of Ann Arbor Employees' Retirement System approved a USD 7m commitment to the PIMCO Private Income Fund

West-coast giant prices second CLO this year
PIMCO returned to the CLO market for the second time this year with the pricing of Balboa Bay Loan Funding 2023-2

Pimco eyes CLOs as part of new flexible credit interval fund
Pimco is preparing to launch a new closed-ended, non-listed interval fund, named Pimco Flexible Corporate Income Fund, which will invest at least 80% of assets in corporate debt across public and private credit markets

Pimco promotes global lev fin and CLO head to managing director
Pimco's leveraged finance head is one of five senior officials promoted to managing director

Western AM goes short-tenor for first CLO of the year
Western Asset Management priced its first new issue of the year on Friday, and its fifth of the Crown City moniker it adopted in 2020

LP round up: securitised credit mandate terminated amid $5 billion allocations and expanding relationships
Institutional investors revealed nearly $5 billion of allocations to 31 credit managers across January and February board meetings, according to materials seen by Creditflux. However, there were also two fixed income manager terminations, and one multi-strategy account placed on a watchlist

Pimco produces strong print on three-year reinvestment CLO
Pimco has produced a three-year reinvestment US CLO in what marks its fifth CLO issuance since it returned to CLO management in late 2020

LP round up: 27 managers find the top corner with investor wins
Credit fund managers like to take it one fund at a time and give it 110% for their 90-minute investor fund pitches - and it's working as $3.8 billion was allocated during November and early December. The gaffer would be proud. 

LP round up: two managers terminated as 20 win $2.5 billion
US institutional investors allocated over $2.5 billion to 20 credit managers in October, according to documents seen by Creditflux. Two credit fund managers however were terminated in the month

Credit funds at a glance (November 2022)
A round up of fundraising and people moves in credit

Apollo and Pimco buy ‘significant portion’ of Credit Suisse's securitised products group
The move has prompted a rally for Credit Suisse, which on Thursday unveiled a strategic review “designed to reduce risk-weighted assets and leverage exposure”

Pimco targets up to $5 billion for flexible credit fund
The fund will invest across capital solutions, distressed and stressed opportunities, and idiosyncratic positions

We can cope with downgrades again

LP round up: 28 credit managers win $6.6 billion as San Diego carves private credit allocation
Pensions allocated over $6.6 billion to credit managers in June including Angelo Gordon, Antares, Apollo, Ares, Beach Point, BioPharma, Brookfield, CarVal, Cerberus...

Pimco loan ETF finds good entry point for deployment
Pimco’s loan ETF, launched earlier this month appears well positioned to capitalise on the volatility that has hit the loan market in the last two weeks

Envision exchange leaves some lenders sick, but CSAM finds prevention is better than cure
Envision Healthcare’s distressed debt exchange has rocked the CLO market, with over $1.68 billion of the firm’s loans held by US CLOs. But some of the largest managers have avoided the name completely 

US CLO manager plots re-expansion into Europe after 16 years
A European 1.0 CLO manager looks set to return to the business 

Pimco prints new CLO with three-years of reinvestment
Pacific Investment Management Company priced a new CLO on Thursday, teaming with Goldman Sachs to print the deal

Europe braces for long dip amid fear of rising inflation
Credit markets are heading into uncertain times, with soaring inflation rates and the subsequent actions of central banks the primary drivers

US pensions assign $1.5 billion to 16 credit managers in December
US public pensions rounded off 2021 by gifting credit managers around $1.5 billion in commitments, according to documents seen by Creditflux

Octagon and Pimco tap CLO refi market
Octagon Credit Investors and Pacific Investment Management Company each turned to the CLO refi market on Thursday resulting in just short of $800 million pricing

CLOs at a glance (November 2021)
A listing of CLOs that have priced in the last month

LP round up: no Stoptober as investors allocate $5 billion to credit
US institutional investors allocated $5 billion to credit funds in October, with Oak Hill and Pimco among the biggest mandates    

Pimco CLO ahead on judges' scorecards with best triple-A punch since return
Pacific Investment Management Company has priced its third Balboa CLO since re-entering the ring as a manager in late 2020, bringing its deals under management to $1.2 billion  

US CLO pipeline: newcomers look to follow Beach Point's lead by pricing before year-end
Beach Point Capital Management became the latest debut issuer in the US CLO market on Friday, and Sycamore Tree Capital Partners and Putnam Investments are set to join it