Private debt tops the private markets agenda for insurers, finds Schroders
Insurers currently allocate the largest proportion of their private assets’ portfolio to private debt, followed by real estate, according to study published by asset manager Schroders  

Maine pension boosts alternative credit bucket with $100 million to US direct lending fund
Maine Public Employees Retirement System has earmarked $100 million to a US direct lending fund

US pension hires Wilshire as ESG consultant
The Rhode Island State Investment Commission has appointed investment advisor Wilshire Associates as environmental, social, and governance consultant at a contract worth up to $75,000  

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

US pension backs special opportunities fund
Virginia Retirement System (VRS) has committed $150 million to a special opportunities fund, managed by Ares Management Corporation  

‘Buying the dip’ is going to be a poor investment strategy when the next downturn comes
The next credit downturn will be shallower but more prolonged than the last, so what works will be different, too

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

Private debt secondaries expected to soar in 2020
Private debt secondaries grew massively in 2019 — and more is expected this year.

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

Hong Kong manager bolsters team ahead of Asian private credit fund launch
Sammasan Capital has appointed former GE Capital colleague to its team as partner, as the Hong Kong-based firm prepares to launch its first Asian private credit opportunities fund

Goldman Sachs AM explores interval structure for credit fund
Goldman Sachs Asset Management has begun marketing for an interval fund primarily focused on credit investments

Florida pension seeks private credit consultant for new strategy
City of Jacksonville Retirement System has launched a request for proposals, searching for a firm to provide private credit consulting services  

Goldman Sachs AM merges public and private BDC
Goldman Sachs Asset Management has merged two of its business development companies: Goldman Sachs BDC, a $1.54 billion publicly traded BDC, and private BDC Goldman Sachs Middle Market Lending Corporation, which has $1.7 billion assets

Pennsylvania pension creates private credit bucket
Pennsylvania State Employees’ Retirement System has approved a new 4% allocation to the private credit asset class

First Eagle buys US CLO manager THL Credit
Two years after establishing its credit business with the acquisition of NewStar Financial, First Eagle Investment Management is aiming big again after striking a deal to buy THL Credit Advisors

Golub sets new record with seventh US CLO of 2019
Golub Capital Partners has become the first CLO manager to price seven new issues in the US market since 2010

Beware of "mequity" risk in direct lending, writes Barings
Barings co-head of global private finance, Ian Fowler, predicts that the adoption of lending terms associated with broadly syndicated loans into private credit will not prove beneficial in the long term

US university backs private credit fund
The University of Michigan Regents has committed to a private credit fund that purchases small balance commercial and industrial loans

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  

Mid market CLO league tables: first time managers crack the top five
Five new issue middle market CLOs priced in November for a combined total of $2 billion with Audax and Owl Rock doubling down in 2019.

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  

BNP Paribas AM set to launch Nest-like private credit offer to UK pensions
French manager BNP Paribas Asset Management is set to launch a diversified private credit fund for smaller UK pension funds over the first half of 2020, similar to the one it structured for the pension scheme Nest  

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