Managers cash in as investors come calling
Credit management platforms are being viewed as attractive investments, with a slew of acquisitions taking place in recent months — mainly involving private credit operators

Shetland Islands pension looks to terminate bonds and introduce direct lending
A UK pension fund is looking to terminate its bond mandate and introduce a 12.5% direct lending and 12.5% alternative funds asset allocation, according to board documentation seen by Creditflux

Texas pension fund puts $150 million into credit
A $29.7 billion pension fund has approved commitments to two credit fund managers

Neuberger's Dyal acquires minority stake in HPS
Dyal Partners, a division of Neuberger Berman, has acquired a minority equity stake in global credit manager HPS Investment Partners

Michigan pension fund looks to commit $80 million to debt funds
The $114 billion Michigan pension fund is looking to commit to two private debt funds managed by London-based Kreos Capital and New-York headquartered MidOcean Credit Partners

Alaska pension fund creates $1 billion credit platform
In conjunction with the new credit platform, Alaska Permanent Fund Corporation has created a $500 million private credit co-investment fund with California-based Pathway Capital Management

Credit interval funds thrive as investors value liquidity profile
“The interval fund structure’s time has come," says BlueBay's Blair Reid

San Francisco pension fund to deploy up to $4.5 billion in private debt
The City and County of San Francisco Employee’s Retirement System has revealed details of its new private debt pacing plan - which will see it deploy up to $4.5 billion and partner with up to 25 private debt managers over the next six years

Carlyle and Oppenheimer opt for interval fund structure as part of JV
The new private credit fund will invest at least 80% across loans and structured credit (Including CLOs), opportunistic credit, direct lending and liquid credit, SEC filings reveal

UK funds brace themselves against value-for-money ruling
The UK’s Financial Conduct Authority (FCA) has published its final set of fund governance rules that aim to strengthen the duty of authorised fund managers to their investors.

Canadian pension fund appoints head of credit
Toronto-headquartered Canada Pension Plan Investment Board has appointed John Graham as head of credit investments, effective 1 June 2018

GoldenTree, KKR and StepStone earn sub-advisor roles for new interval fund
FS Investments is launching a multi-strategy interval fund and has chosen GoldenTree Asset Management, KKR Credit and StepStone Group to act as sub-advisors

Ohio pension backs BlackRock multi-asset and BlueBay direct lending funds
BlackRock and BlueBay have each won commitments from a $14.7 billion Ohio pension fund

UK pension mega-fund to increase credit allocation following equity reduction
One of the UK's largest pension funds looks set to increase its allocation to credit after reducing its equity allocation by 15%

Canadian asset manager acquires Asian private credit specialist Clearwater
In a bid to gain entry to the Asian private credit market, Canadian investment firm Fiera Capital Corporation has acquired Asian credit specialist Clearwater Capital Partners

Credit specialist poaches Goldman Sach's Eric Muller in New York
Credit specialist Oak Hill Advisors has hired New York-based Eric Muller from Goldman Sachs Group, according to a market source

Oppenheimer and Carlyle launch global credit fund as part of JV
Carlyle Group and OppenheimerFunds International have filed to register the first fund product of their previously announced joint venture. The vehicle will invest in a wide range of credit products including CLOs, direct lending and opportunistic debt

Bless the bonds down in Africa, urges Botswana firm launching two debt funds
An Africa-focused asset management company run by a former Investec and T Rowe Price professional is promoting the launch of one debt fund – and says it now plans to launch another

First Avenue principal joins Pantheon in London
Pantheon has hired London-based Justin Mallis from global placement agent First Avenue Partners

Ares switches to C-Corp structure as it announces "record year" in earnings release
Ares has announced a change to its corporate tax status in an earnings release that described 2017 as “a record year” for the firm

AB reports "exceptional" 2017 and growing AUM
AB has reported its earnings for 2017, described by chief executive officer Seth Bernstein as an “exceptional” year for the firm

AUM drops but Oaktree dubs 2017 a "strong" year
Alternative investment specialist Oaktree Capital Management has reported a slight decrease in assets under management for the year of 2017 – but the Los Angeles-based firm’s chief executive described the year as a “strong” one for the company

Energy PE firm Orion closes second credit opps fund at $816 million
Orion Energy Partners, a private equity firm providing capital solutions to mid-market energy infrastructure businesses, has closed its second credit opportunity fund at $816 million

KKR considers switching from partnership to corporation
Global investment firm KKR is considering a change to its legal structure, with the firm’s senior management and board of directors currently evaluating whether to convert from a partnership to a corporation, or C-corp

UK lender Goji teams with Prestige to launch renewables lending bond
Marketplace lender Goji has partnered with direct lender Prestige to launch an ISA-eligible "renewables lending bond"