LP round up: Oregon eyes $1.8 billion into structured credit
Institutional investors have earmarked over $6 billion to credit funds over the past two weeks

UK pension seeks managers for £1.5 billion multi-asset credit fund
Brunel Pension Partnership is looking for asset managers to oversee a £1.5 billion ($1.9 billion) multi-asset credit fund

Covid could trigger 'mega trend' into private debt, says Blackstone's Gray
The coronavirus pandemic could spark a 'mega trend' of investors into alternatives in private credit, Blackstone's president and chief operating officer said on the firm's second quarter earnings call on Thursday

Credit Rendezvous: record fiscal stimulus provides pick-me-up
Credit markets had a mini bounce-back in the second quarter as central banks poured cash into the economy. But there is great uncertainty about the effects of a second wave of coronavirus. As part of our quarterly report on credit - the Credit Rendezvous - Creditflux spoke to experts across 12 segments of the credit market

First Eagle expands in asset-based lending with two senior hires
First Eagle Investment Management is expanding into asset-based lending and has hired two industry veterans to lead the business

LP round up: managers keep fundraising hopes high as GSO targets $7.5 billion for mezz offering
Institutional investors allocated $1.6 billion into credit this week, according to documents seen by Creditflux

Apollo joins forces with Mubadala for big direct lending deals
Apollo Global Management has launched a ‘large scale direct lending’ platform, which it says is anchored by Abu Dhabi’s Mubadala Investment Company

Candriam agrees deal for Rothschild's European fund of fund business
Candriam has bought Rothschild’s “multi-management” business, representing €350 million of assets

Calpers plans $80 billion leverage play to boost returns
California Public Employees’ Retirement System has outlined plans to boost returns for its nearly $400 billion portfolio in the long term. But the proposal, dubbed ‘towards a 7% solution’, has come under criticism

Governance has greatest impact on short-term changes in company valuation out of ESG factors, finds MSCI
Governance has more impact than environmental and social factors on company financial fundamentals and stock price in the short term, but ‘E’ and ‘S’ play their part over the long term, according to analysis from MSCI

Fund performance: CLO funds keep up the momentum for second month running
May returns have been led by continued momentum from CLO funds. In the last month, funds that invest in CLO notes in some capacity have made up 90% of our top 10, while 97% of funds listed generated positive returns - an improvement of 15% on last month's figures.

Credit funds at a glance (July 2020)
A round-up of fundraising and people moves

Ucits at a glance: Ucits recover lost ground
The foot has come off the gas for many funds - 57% of funds did not break the 2% return barrier.

Managers prepare for new habits in post-lockdown world
A new world beckons as lockdown measures gradually loosen; one in which consumer behaviour has changed and credit investing will have to adjust. But it won’t be as easy as compartmentalising investments into ‘covid sectors’ and ‘non-covid sectors’.

Canadian pension Imco outlines two-year $6 billion credit plans
The Investment Management Corporation of Ontario (Imco) has a range of credit strategies in its sights as it seeks to deploy $6 billion in the next two years as part of the build out of a global credit platform, according to officials at the company

Morgan Stanley hires leveraged loan MD from Credit Suisse
Morgan Stanley has hired a leveraged loan managing director in London with over 15 years' market experience

US and Europe diverge as loan trading bands emerge on the continent
Europe and the US are on different courses with credit indices having drifted apart over the past month, say trading sources. Europe is expected to suffer fewer defaults to the extent that "it’s getting quite difficult for borrowers to default”, as one source put it. But the US has "higher growth potential due to its more dynamic economy"

Four managers join forces on gigantic £1.9 billion unitranche
The supersized transaction to Ardonagh Group, led by Ares, is the largest ever unitranche facility

Oaktree sets up North America sourcing and origination group
Oaktree intends for the platform to enhance its private credit sourcing and deal-origination capabilities

LP round-up: Champaign pension raises a glass (or bucket) to private credit
Institutional investors allocated over $600 million to 11 managers this week, according to board documentation seen by Creditflux

Zais ESG head to join DWS
Zais Group’s head of ESG (environmental, social, governance) and impact investing is joining DWS as group sustainability officer in New York

Bridgepoint buys EQT's credit business - report
Bridgepoint is buying the credit business of EQT, according to the Financial Times

CLOs dodge offshore driller as restructuring credit event question posed
The Americas Determinations Committee has been asked to rule on whether UK headquartered offshore driller Valaris has triggered a restructuring credit event

Cerberus raises $779 million for direct lending fund
Cerberus Business Finance is raising a new direct lending fund, according to regulatory filings

LP round-up: mighty Oaks win $1 billion apiece from Calpers
Credit investors allocated over $3 billion to 18 credit managers this week across a wide range of strategies