Iowa pension to commit $200 million to private credit in 2019 as it addresses shortfalls
Iowa Public Employees Retirement System (IPERS) plans to make $200 million in private credit commitments during 2019, according to documents seen by Creditflux, comprising of $100 million each to Monroe Capital and Tennenbaum Capital Partners

Carlyle closes private business development company at $1.9 billion
Carlyle Group has closed its second business development company, TCG BDC II, raising a total of $1.9 billion

Texas pension awards $500 million to European direct lending managed account
This is the largest investment to credit that the $30 billion pension fund has made

Golub Capital BDC looks to become fourth largest publicy traded BDC with merger
Golub Capital is seeking approval from its shareholders to merge its Golub Capital business development company (GBDC)  with another one of its business development companies, Golub Capital Investment Corporation (GCIC)

Neiman Marcus loan slumps amid debt restructuring talks
The luxury fashion retailer’s $2.95 billion cov-lite term loan B, due October 2020, traded down 1.65%, according to IHS Markit 

Crescent lands in US direct lending for second time with $1.6 billion fund
Crescent Capital exceeded its $1 billion target size, hitting $1.6 billion for its second US direct lending fund

Pensions pile in as KKR sets $2 billion direct lending fund target
KKR Credit has raised at least $1.6 billion for its third US direct lending fund, according to US regulatory filings.

Varagon boosts healthcare expansion with New York hire
The middle market lender continues its efforts in the sector, following the opening of a new healthcare-focused Chicago office

Blackstone builds on multi-asset approach with fifth fund
The new vehicle will invest directly into Blackstone deals across its alternatives platform

Owl Rock rakes in $1.53 billion for tech-focused BDC
Owl Rock Capital is spreading its fundraising wings, with the New York-based manager raising at least $1.53 billion for its technology-focused business development company

Monroe launches $1.33 billion US direct lending fund
With leverage, Monroe Capital will have more than $2.5 billion of capital available for investments

Recent CLO debutant Vista brings in GSO official to lead credit team
Vista Credit Partners has hired a former GSO official to lead its credit team

Missouri pension plan seeks alternatives consultant
The $8.2 billion Missouri State Employees’ Retirement System (MOSERS) is seeking an alternative investment consultants

Crestline holds $600 million final close for PE-focused financing fund
The new fund will provide financing to private equity funds post their investment period, allowing them to provide follow-on growth capital to portfolio companies or additional liquidity 

Blue Torch shines with $439 million for inaugural credit fund
Launched by ex-Cerberus official Kevin Genda in April 2017, Blue Torch has reached over half way in fundraising for its inaugural credit opportunities fund

Tikehau’s private debt AUM hits €7.5 billion
Tikehau Capital, the Paris-based asset management and investment firm, has reached €7.5 billion in private debt assets under management (AUM) as of September 2018. This represents an increase of 17% for the third quarter, amounting to €1.1 billion  

California pension fund seeks opportunistic credit manager
Merced County Employees’ Retirement Association is on the search for an opportunistic credit manager, according to board minutes seen by Creditflux

San Francisco pension ramps up private credit portfolio with $80 million commitments
The $24.5 billion pension fund currently has a 2.2% actual allocation to private credit, despite a 10% target allocation

Managers call for reality check among BDC loan valuations
US loan managers are sceptical of marks assigned to loans by some business development companies, according to a discussion at the US Mid-Market Forum hosted by Creditflux and Debtwire last month

Distressed specialists spy opportunities in US mid market
Distressed debt managers are eyeing up the US mid market loan space for when the cycle turns, said panellists at the Creditflux-Debtwire US Mid-Market Forum in October

PennantPark wins $80 million for third credit opportunities fund
The new vehicle is the latest in the PennantPark Credit Opportunities series 

Managers see growth in distressed and direct lending, but structured credit splits opinion
The private credit industry remains on track to grow to $1 trillion assets under management by 2020, according to joint research published by the Alterative Credit Council and law firm Dechert with allocations to distressed and mid-market deals tipped to rise. But structured credit has divided US and European managers

Perceptive sees opportunities in healthcare as it raises $675 million for new fund
The latest fundraising now brings Perceptive’s private credit asset under management to $1 billion

Ares ups its target for US senior direct lending growth to $4.7 billion
Following $5 billion of inflows into global direct lending in the third quarter, Ares has upped the target for its US direct lending strategy 

PE firm hires direct lending specialist from GSO
Private equity firm AE Industrial Partners has appointed an experienced structured credit official as it looks to expand its structured credit offerings