Northleaf Capital plants evergreen direct lending fund
Northleaf Capital is bringing evergreen fund structures to the direct lending market with the intention of giving institutional investors a degree of liquidity.

Adams Street raises $1.1 billion for its inaugural private credit strategy
Adams Street Partners has closed its inaugural private credit program with around $1.1 billion of capital available to deploy, including leverage.  

Ohio pension backs GSO's upcoming European direct lending fund
Ohio Police & Fire Pension Fund (OP&F) has approved a $50 million commitment to GSO European Debt Fund II

Minnesota State to earmark $100 million for private credit
Minnesota State Board of Investment is considering a $100 million commitment to LBC Credit Partners V, according to a quarterly updates document seen by Creditflux  

Crestline adds managing director to credit team in New York
The new hire joins from American Industrial Partners

Goldman Merchant Bank secures $4.4 billion senior debt capital to deploy
Goldman Sachs merchant banking division has closed its latest senior direct lending fund, Broad Street Senior Credit Partners II

Morgan Stanley IM collects $785 million for senior loan fund
The strategy will have around $1.1 billion available capital for investment with leverage 

New investments drive Canada Pension Plan’s credit returns to 8.7%
Canada Pension Plan Investment Board (CPPIB)’s credit portfolio has delivered good returns during the 2019 fiscal year, despite the market volatility, according to the institution’s annual financial report  

Northleaf adds newly-created business development role in London
The new hire will lead the Toronto-based firm's business development and investor relations activities across Europe, the Middle East and Africa

Sacramento pension backs healthcare fund
Sacramento County Employees Retirement Scheme (SCERS) committed $35 million to OrbiMed Royalty & Credit Opportunities in April, according to a monthly report of new investment activity seen by Creditflux  

MGG appoints direct lenders to two US offices
Direct lender MGG Investment Group has appointed two officials to its New York and Dallas team, Creditflux has learned

Barings BDC forms $550 million JV with South Carolina pension
The new joint venture will invest in both liquid and illiquid credit

US pension to invest $75 million in private debt
Vermont pension investment committee (VPIC) has decided to commit $75 million in private debt, following a private credit strategic investment plan recommendation plan recommendation by its investment consultant NEPC.  

Prospect's $500 million CLO fund merges with Stira Alcentra global credit fund
Prospect Capital Management’s $500 million closed-end CLO fund has officially merged with a global credit fund managed by Alcentra and Stira

Endowment funds eye allocations to private credit
Endowment funds are evaluating private credit funds in a bid to meet their 7% return hurdles, and Commonfund, based in Wilton in Connecticut, is leading the charge.

Morgan Stanley grows direct lending arm in New York with two hires
The bank has added a second hire to its private debt team having appointed an ex-Carlyle official to a newly created role as head of direct lending 

US pension fund to commit $1.1 billion in private credit by 2020
Investment consultant NEPC has recommended that Arizona Public Safety Personnel Retirement System (PSPRS) commit $550 million in private credit in both 2019 and 2020, according to a private credit review  

Monroe adds ex-Medley official to west coast origination team
The new hire will be based in Los Angeles 

BNP Paribas Wealth appoints head of private equity and private debt investments
The appointment supports what the firm sees as "a significant pick up in clients’ appetite" for the asset classes

California pension approves $20 million for open-ended private debt fund
The commitment comes two months after Santa Barbara County Employees’ Retirement System mandated $25 million to a THL Credit 

The Last Tranche: awards season is upon us [podcast]
A look at 2018 award offerings and finalist, plus some insight on direct lending and b-wics

Jefferies subsidiary and Stonyrock plan mid-market alternative manager stake acquisitions
The new joint venture will invest in private equity, credit, hedge funds, real estate, venture, and infrastructure firms

Maryland pension carves out private debt bucket
The Baltimore pension fund has also mandated a total of $25 million to one direct lending fund and one distressed debt fund 

Neuberger Berman holds $1.7 billion final close for private credit fund
The strategy more than doubles fundraising for its predecessor fund NB Private Debt Fund II, which closed in October 2017 with $750 million

Medley signs agreement with activist shareholder over three-way merger
The Medley saga continues...two board of directors have been appointed and several ammendments have been made to the merger agreement