Sacramento pension earmarks $150 million for private credit in 2020
The pension fund expects to commit to two direct lending funds and one credit fund it describes as 'opportunistic'

Alaska pension commits $207 million to credit
Alaska Permanent Fund Corporation (APFC) committed $207 million to credit funds and co-investments over the last quarter of 2019  

Mid-market lender Comvest sells minority stake to Affiliated Managers

Comvest Partners has sold a minority equity stake to Affiliated Managers Group. Terms of the transactions were not disclosed.  

EIB buys mezzanine tranche in Commerzbank SRT
Commerzbank has launched a €1.5 billion significant risk transfer with the European Investment Bank (EIB) announcing that it has invested in the mezzanine tranche of the securitisation

Hamilton Lane limits uncalled commitments with private market fund
Hamilton Lane has launched a private assets fund, in a strategy that will "seek to limit the exposure of uncalled commitments and shorten the duration of expected cash flows relative to a traditional portfolio”

Pantheon and Solutio join forces on €250 million private debt secondaries fund
Pantheon Ventures and Munich-based Solutio have held a final close on their inaugural joint private debt secondary fund above its €250 million hard-cap

Texas pension pumps $300 million into Pimco fund
Texas Municipal Retirement System has earmarked up to $300 million to a credit fund managed by Pimco, according to board documents seen by Creditflux, building on a relationship established through a predecessor fund

US pension earmarks $25 million for secondary direct lending investment
Maine Public Employees Retirement System (MainePERS) is set to invest $25 million to a private credit fund through a secondary market transaction  

Italian pension fund seeks greater exposure to private debt
BNL, the pension fund of the investment manager BNP Paribas Italia, has launched a request for proposals (RFP), looking to commit €20 million to private debt closed-end funds.  

New York pension fund puts emphasis on sustainability with $800m credit allocation
The New York State Common Retirement Fund (CRF) has put $800 million into credit with a strong sustainability focus, hiring Avenue, Calvert and Nuveen

AlbaCore closes €1.5 billion direct lending fund nearly 60% deployed
AlbaCore Capital has deployed around 60% of its second direct lending fund, with the London-based manager closing the fund at €1.5 billion

Hadrian Wall tumbles as board calls for wind down of direct lending fund
Hadrian’s Wall Secured Investments' board of directors has decided that a wind down of the fund with cash returned to shareholders would be in the best interest of shareholders, according to a company update

European unitranche deal flow increased 11% last year, finds GCA
European direct lending unitranche deals completed in 2019 increased by 11%, according to GCA Altum's Q4 2019 MidCap Monitor, marking a record year for the industry 

Eurizon launches real assets division
Italian asset manager Eurizon has launched a new organisation, specialising in alternatives investments that have a focus on the real economy, including private debt.  

Mercer puts private debt at heart of $2.7 billion fund of fund
Mercer has held a final close at $2.7 billion for a private markets fund that offers investors access to private debt and sustainable products  

LGIM hires ESG head for real assets division
Legal & General Investment Management’s LGIM Real Assets has appointed Sheun Chan as head of environmental, social and corporate governance  

London pension considers direct lending allocation
The City of Westminster pension fund is considering a 5% allocation to a new mandate which includes direct lending,

Californian pension opens search for consultant
Sacramento County Employees Retirement Scheme has launched a request for proposals from consultants to advise on what it has dubbed its 'alternatives portfolio'

Alcentra makes big hires from Fosun and Park Square as Delaney-Smith retires
Alcentra’s European direct lending team is going through an overhaul with the co-head of this business, Graeme Delaney-Smith, retiring from the firm and two well known names joining

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

California pension looks to cut liquid credit allocations
Fresno County Employees’ Retirement Association will likely cut back on liquid credit and completely remove hedge fund allocations in 2020.. But the pension is optimistic about core bonds – and may include it as a new asset class

First Eagle closes fourth direct lending fund at $782 million
First Eagle Investment Management has collected $782 million on its fourth direct lending fund, THL Credit Direct Lending Fund IV, marking the first private credit fund closed since Boston-based THL Credit was acquired by First Eagle in December 

Canadian pension launches $300 million private credit platform to invest in India
Caisse de dépôt et placement du Québec, the CAD 326.7 billion Canadian pension, has rolled out a $300 million private credit platform in partnership with Pirmal Asset Management to focus on private credit opportunities in India

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