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'

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

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

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.

Fund performance: Presents under the tree as CLO funds perform

Credit funds at a glance

Private credit funds could find better buying opportunities this year, says NEPC
Institutional investors looking to allocate to private credit in 2020 should focus on distressed debt, opportunistic credit and niche lending, according to investment consultant NEPC, with 2019 vintage funds potentially seeing “better buying opportunities” despite valuations being at cyclical highs

Carlyle appoints regional head of credit opps fund
Carlyle Group has hired a managing director to serve as North American head of its credit opps fund

BC Partners seeks $1 billion close for special opportunities fund
BC Partners Advisors is targeting a $1 billion close for its recently launched special opportunities fund, according to documents seen by Creditflux.  

Calpers eyes exposure to private debt
California Public Employees Retirement System is looking to introduce private debt to its portfolio, according to documents seen by Creditflux  

Sound Point creates its first fund geared exclusively to direct lending
Sound Point, which has experience of investing in middle market loans through various funds, has launched its first dedicated speciality lending fund 

Private debt takes centre stage as Arizona looks to bolster credit allocation to 25%
Arizona State Retirement System remains bullish on credit with the $41.9 billion institution looking to bolster its entire credit allocations to almost a quarter of the fund - and private debt will take centre stage in the Arizona pension’s growth plans

US pension backs two private debt managers, but retreats from syndicated loans
San Antonio Fire & Police Pension Fund ended 2019 bullish on private debt but shying away from syndicated loans

Värde launches $2.5 billion global credit fund
Värde Partners has raised $2.47 billion for a new global credit fund, according to an announcement today

MidOcean Credit co-founder leaves to head PE firm's credit expansion
Multi-strategy private equity firm Siguler Guff has poached a co-founder of MidOcean Credit Partners to lead the expansion of its credit platform

JP Morgan AM moves CFO to head up private credit
The chief financial officer of JP Morgan Asset Management has switched to a newly created role as head of private credit

Fund performance: Long-short funds rule in October as CLO funds struggle
A round-up of fund performance

CLOs at a glance: innovations arrive as year draws to close

Californian pension commits $15 million to Angelo Gordon credit fund
San Mateo County Employees' Retirement Association (SamCERA) has approved a $15 million commitment to a fund managed by Angelo Gordon, according to documents seen by Creditflux  

US pension allocates $150 million to private credit
Alaska Permanent Fund Corporation (APFC) has backed two private credit funds, committing $150 million to the asset class  

Astor and Armory team up for US mid-market credit interval fund
Astor Investment Management has teamed up with Armory Capital to launch a middle-market credit interval fund, according to US regulatory filings

Pantheon appoints ex-Star Mountain official as head of global private debt
Pantheon has appointed a former Star Mountain Capital official as partner and global head of private debt in New York 

UK pension partnership launches maiden private credit offering at £581 million
Border to Coast Pensions Partnership (BCPP) is set to commit £581 million in private credit, as part of its maiden offering in this asset class  

West coast pension looks to step up direct lending allocations
The City of Fresno Retirement System will commit $140-160 million to private credit for the next two years, according to board documentation seen by Creditflux. This comes amid a pause in direct lending commitments for the pension fund, which has not committed any capital to this market in 2019