45% of insurers look to increase private debt allocations, finds Natixis IM survey
Private debt allocations are expected to grow for 45% of insurers over the next three years, according to a recent survey by Natixis Investment Management. But regulation and internal restrictions are the biggest challenges to greater adoption of private markets allocation

GSO official to join distressed debt manager Kennedy Lewis
The head of capital markets at GSO Capital Partners, who serves as a portfolio manager, will join distressed debt firm Kennedy Lewis Investment Management as a partner in 2020

Minnesota pension to invest $300 million in distressed and private credit funds
Minnesota State Board of Investments is set to invest $100 million in a mezzanine debt fund and $200 million in a distressed debt fund

Arizona pension to deploy up to $700 million a year in private credit
Arizona Public Safety Employee System is looking to deploy $600-700 million in private credit strategies per year in order to meet its target allocation, according to board documents seen by Creditflux.

Azimut hires ex-Dyal official as it aims to buy minority equity in asset managers
Azimut will initially focus on acquiring minority stakes in alternative asset managers with under $3 billion AUM – including private credit, private equity, infrastructure and real estate firms

Monroe adds four to its opportunistic private credit team
Monroe Capital has expanded its opportunistic private credit team with four hires: Darrick Ginkel, Chris Spanel, Jason Starr and Joseph Valickus

Canadian pension awards €300 million to middle market real estate debt
Canada Pension Plan Investment Board (CPPIB) has awarded €300 million to a separately managed account focused on real estate across Spain and Portugal. The pension fund did not name who this partnership was with 

Dyal buys 20% stake in direct lender Owl Rock
Neuberger Berman’s Dyal Capital Partners has acquired a 20% stake in direct lender Owl Rock Capital, adding to the roster of private credit specialists Dyal has in its portfolio

Credit Suisse makes leadership changes after creating head of private credit role
Credit Suisse has reshuffled its senior leadership and introduced a new private credit role

Direct lenders' unitranche greed poses challenge to CLO sourcing
European direct lenders are increasingly expressing their preference to be the sole lender in large unitranche deals, whereas the opposite is true in the US, where direct lenders are more focused on syndicating their deals    

Managers dispel myth that lenders can’t influence ESG
There’s a growing belief among credit fund managers that they can influence borrowers to take on ESG-friendly practices, contrary to the widely-accepted notion that the business practices of companies are dictated by their private equity owners.

Tikehau builds private debt secondary platform with senior hire
Tikehau Capital has bolstered its private debt capabilities with the launch of a new secondaries platform

BlackRock joins BDCs with increased leverage approval
BlackRock Capital has become the latest business development company to adopt the higher leverage after the Small Business Credit Availability Act was amended last year

Private credit growth helps Hamilton Lane 13% growth in AUM
Alternative manager Hamilton Lane has reached $481 billion in assets under management and advice as of September, with credit funds supporting the organisation’s growth  

Carlyle hires to New York credit opportunities team
Carlyle has appointed a former Guggenheim official to its credit opportunities team in New York

Callan adds private credit specialist in Chicago
Investment consultant Callan has appointed a private credit specialist to its alternatives group from Blueprint Capital 

"Ultra-fast" pre-pack bankruptcy will flourish in private credit, says Proskauer
Prepackaged and pre-negotiated bankruptcy strategies will emerge as strong contenders for Chapter 11 cases involving private credit deals in the next restructuring cycle, according to a note published by law firm Proskauer

Ropes & Gray names leveraged finance partners in New York
Law firm Ropes & Gray has named 16 new partners across its offices – including several credit-related promotions

Partners Group hires private debt business development head from Bardin Hill
Partners Group has signalled its intention to ramp up its private debt platform with a newly created role 

Garrison BDC needs to liquidate, argues shareholder Clear Harbor
In a letter delivered to the board on Thursday, Clear Harbor emphasised several concerns and demanded a new independent investment advisor with liquidation expertise 

Proskauer promotes eight to partner in credit
Law firm Proskauer has promoted 15 lawyers to partners in its London, New York and Boston offices – including eight who work in credit

Pathlight raises $450 million for asset-based loans
Pathlight Capital has held a $450 million final close on its inaugural asset-based loan fund, Pathlight Capital Fund I

US pension fund earmarks $1.3 billion for credit
Teachers’ Retirement System of the State of Illinois (TRS) is set to commit $1.3 billion to credit funds, as part of its global income portfolio.  

New York teachers’ pension backs energy credit fund
New York State Teachers’ Retirement System has committed $200 million to a credit fund managed by Orion Energy Partners, according to documents seen by Creditflux  

Crestline targets $1.75 billion for 'all weather' fund but investor questions fund size
Crestline Investors is seeking $1.5 billion capital ($1.75 billion hard cap) for its next 'all weather' global special situations fund, Crestline Opportunity Fund IV, with the Fort Worth-based firm looking to hold a final close in October 2019. But one institutional investor has raised concerns about the size of Crestline's latest fundraise.