Credit Rendezvous: the outlook in 2020 across a dozen segments of the credit market
Welcome to the Credit Rendezvous, the first instalment of a regular feature published by Creditflux that tracks credit market dynamics in a dozen segments from investment grade, liquid loans, CLOs and CSOs all the way through to distressed debt. We view this as the meeting point for credit specialists across strategies to share their perspectives

Pimco plans to outperform come rain or shine with $4.5bn all-weather fund
Pimco has become the latest manager to fashion a flexible, all weather credit fund that invests across public and private markets, geographies and capital structures. The Newport Beach-based manager is hoping to raise $3 billion for the strategy. With half a turn of leverage, it could have up to $4.5 billion to deploy.

PGIM invests $13 billion in mid market companies in 2019
PGIM Private Capital provided $13 billion in senior and junior capital to 228 middle-market companies globally in 2019, according to a company press release

Pemberton adds managing director and head of Spain
Pemberton, a direct lender, has added a hire from Royal Bank of Scotland to lead Spain investments 

Private credit funds could find better buying opportunities this year, says NEPC
Institutional investors looking to allocate to private credit in 2020 should focus on distressed debt, opportunistic credit and niche lending, according to investment consultant NEPC, with 2019 vintage funds potentially seeing “better buying opportunities” despite valuations being at cyclical highs

Yielco collects €675 million across two private debt fund of fund strategies
The Munich-based firm held a final close on its inaugural private debt fund of funds strategy and has also won a separate prive debt mandate

Investors preferred real asset debt to corporate private debt in 2019, finds Bfinance
Bfinance stated that, in dollar terms, real asset debt searches conducted by investors outweighed corporate private debt searches in 2019

Amundi joins forces with French bank to launch midcap loan fund
Amundi has partnered with French bank LCL to launch a mid-cap direct lending fund - and the fund has collected €130 million on its first close, just over half its target size 

Banco Sabadell joins forces with Amundi
Banco Sabadell and Amundi have announced a long-term strategic partnership, in a bid to boost fund business in Spain  

Hamilton Lane shakes up European leadership
Private markets manager Hamilton Lane has promoted two of its personnel in Europe, the Middle East and Africa, as the $481 billion firm is looking to boost its growth efforts through the region

EQT undertakes strategic review of credit business
EQT has announced a review of its credit business with the firm appointing JP Morgan to evaluate its 'strategic options', according to the firm’s Q4 2019 report

DC pension set to invest in private debt assets
Universities Superannuation Scheme (USS), a UK based pension scheme, is set to enable the members of its defined contribution (DC) section to get exposure to private markets assets, including private debt, from February

TPG makes European direct lending hire from Investec
TPG Sixth Street Partners has bolstered its UK and European direct lending opportunities team with a hire from Investec 

Ardian raises €3 billion direct lending fund as it makes space for stretch-seniors
Ardian has collected €3 billion from ‘over 90 investors’ on its fourth European direct lending fund, surpassing its original €2.5 billion target size

Pantheon joins forces with Kermony in France
Pantheon has announced an exclusive 'introducer relationship' in France with Kermony Capital today, which is set to introduce Pantheon’s private debt capabilities to French investors  

Pimco launches listed multi-sector global credit fund
Known as Pimco Tactical Income Fund, the fund will invest in a range of global credit strategies and will list on the New York Stock Exchange

Advisory firm starts strategic review after credit specialist join M&G and Pictet
A London-based middle market advisory firm is undergoing a strategic review, according to market sources, shortly after it lost two partners to the buy side

Bfinance hires for senior private markets job
The former deputy chief investment officer and private credit director of the £14.7 billion Local Pensions Partnership joins the private markets division of investment consultant bfinance, following Niels Bodenheim's departure to NN Investment Partners in December

Alvarez & Marsal establishes European practice with senior hire
Alvarez & Marsal has established a Europe debt advisory practice and appointed ex-Marlborough Partners official Tim Metzgen to spearhead the unit in London

Partners nears $100 billion in AUM as CLOs drive private debt growth
Swiss manager Partners Group has reached $94.1 billion in assets under management, with CLOs boosting the firm’s growth, according to its 2019 annual results  

EQ plans private credit fund launch with eye on deploying up to €100 million
EQ Asset Management has indicated that it will launch its third private credit fund later this year

BC Partners seeks $1 billion close for special opportunities fund
BC Partners Advisors is targeting a $1 billion close for its recently launched special opportunities fund, according to documents seen by Creditflux.