It's a question of timing: US direct lending allocations hit a bump in the road
Recent disclosures from public pension funds point to a pull-back in private credit allocations

GSO generates $4.5 billion capital for energy-focused credit fund
GSO Capital Partners has closed its second energy-focused credit fund with $4.5 billion of capital commitments, the firm has announced. Creditflux understands that the fund originally targeted a $5 billion final close

Arizona pension bullish on private credit after beating benchmark
Credit returns have bolstered performance for Arizona State Retirement System – and the pension fund remains bullish on future allocations to private debt

Los Angeles pension fund to shortlist illiquid credit managers
Los Angeles County Employees Retirement Association (LACERA) is set to select semi-finalists for an $500 million illiquid credit mandate by July  

Private debt should alleviate the next downturn, says Paul Hastings
Private debt should soften the next downturn and not exacerbate it, according to a note published by law firm Paul Hastings

PSP's private debt portfolio generates 9.2% return
Public Sector Pension Investment Board (PSP) has generated a 9.2% one-year rate of return of its private debt portfolio, exceeding its 5.7% benchmark, 

US pension replaces Cliffwater with Meketa
Connecticut Retirement Plans and Trust Funds has selected Meketa as a consultant to oversee its opportunistic investments, which consists of direct lending and opportunistic credit investments, along with investments in hedge funds and real assets.  

US pensions funds allocate to Lone Star and Raven credit strategies
Two US-based pension schemes have invested in funds with exposure to credit, highlighting the appetite of institutional investors towards off-the-run asset classes.

Louisiana pension retains Hamilton Lane and plans private debt commitments
The $20 billion Teachers' Retirement System of Louisiana (TRSL) board has voted to retain Hamilton Lane as its private markets manager to oversee its private debt and private equity portfolios. 

Monroe bolsters direct lending team across the US
Middle market lender Monroe Capital has bolstered its direct origination team with hires across several US offices,

Los Angeles pension fund narrows down global direct lending search to four managers
Los Angeles City Employees Retirement System (Lacers) has listed the finalists for a private credit mandate, according to an agenda document seen by Creditflux.  

San Mateo pension backs BlackRock direct lending fund
San Mateo County Employees' Retirement Association is set to make a commitment of $35 million to BlackRock Direct Lending Fund IX, according to an agenda item document seen by Creditflux.

Cliffwater raises $135 million for interval fund geared towards direct lending
Cliffwater has raised $135 million for an interval fund through which it will allocate to five sub-advisors

Texas pension backs mine finance fund
Texas Municipal Retirement System (TMRS) is set to commit up to $150 million to Orion Mine Finance Fund III, consisting of a $100 million commitment to the fund and $50 million for co-investment  

FS and KKR create $9 billion publicly-listed BDC with four-way merger
The move would create the second largest BDC by assets under management

Marathon targets 10% for newly-closed aviation leasing fund
The fund, which will be backed commercial aircraft investments, has taken off 

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