Oaktree BDC appoints CLO specialist as CEO and CIO
Oaktree Speciality Lending Corporation has appointed its new chief executive officer and chief investment officer, following the resignation of the incumbent CEO and CIO Edgar Lee

Minnesota pension slates $100 million for private credit
The pension fund has so far allocated $2.4 billion to private credit across 12 managers and 25 funds

Large US direct lender eyes expansion into Europe, reports Debtwire
One of the largest investors in the US middle market is planning to expand into Europe, according to Creditflux’s sister publication Debtwire

Saratoga picks up its second SBIC license
Saratoga Investment Corp has received approval for another Small Business Investment Company (SBIC) license

US pension seeks private credit consultant and ESG services
New Jersey Division of Investment has launched a request for proposals (RFP) searching for hedge fund and private credit investment consultant services. It has also launched a search for environmental, social and governance (ESG) ratings, research and related services  

Bain garners $973 million for middle market fund
Bain Capital Credit has garnered $973.4 million its latest US direct lending mezzanine strategy, Bain Middle Market Credit 2018

Silicon Valley pension to invest $20 million in private debt
San Jose Federated City Employees Retirement System and Health Care Trust is set to make commitments of $20 million in private debt, as part of its fiscal year 2019-2020 pacing plan, according to documents seen by Creditflux  

Crescent BDC buys Alcentra BDC in $141.9 million transaction
As part of the deal, the combined business development company will go public and charge lower management fees

Los Angeles pension appoints four managers for private credit mandate
Los Angeles City Employees Retirement System (Lacers) has awarded four contracts for a $670 million private credit mandate search, according to minutes from the July investment committee meeting.  

Corbin eyes non-sponsored loans for inaugural private credit funds of funds
The New York-based fund-of-funds manager plans to target a private credit portfolio of around 125-150 loans across six to eight managers that focus on non-sponsored lending

BlueMountain buyout to bring CLO equity shift, funding pledge and Feldstein payout
BlueMountain Capital Management’s co-founder Andrew Feldstein looks set to receive a substantial pay-out in common shares of Assured Guaranty, which has agreed to buy the manager for around $160 million and has outlined a three-year plan for its CLOs

US pension scheme eyes 50 South Capital fund of funds
50 South Capital Backed Credit Fund II, a fund-of funds vehicle, is set to invest in four loan funds in small and medium size companies, according to documents seen by Creditflux  

Brightwood adds ex-Prudential origination specialist to Los Angeles office
Brightwood Capital Advisors has appointed a managing director on its investments team in California 

Solar BDC shines a light on its bid to focus on first lien loans
Solar Capital is taking a prudent approach to loan investments with the firm reducing its exposure to second liens, according to the business development company's earnings call

Texas pension seeks direct lending funds backed by hard assets
San Antonio Fire & Police Pension Fund is launching a private debt search with a focus on hard-asset lending, according to pension fund meeting documents seen by Creditflux  

Credit funds contribute to Hamilton Lane’s AUM growth
Hamilton Lane has announced its assets under management and advisement has hit $473 billion as of June. This comes shortly after it closed a credit fund and begun marketing another one

New York Life brings in $495 million for credit fund
New York Life Investors has pulled in nearly $500 million for Madison Square Structured Debt Fund

Mid market CLO league tables: Barclays makes entrance as AB picks up the pace
Barclays was involved in its first ever middle market CLO, as July marked the first month of 2019 that Natixis did not arrange a mid market CLO this year.

BDC consolidation continues with Oak Hill and BC Partners-affiliate merger
The consolidation of US business development companies continues... this time, with the merger of OHA Investment Corporation and Portman Ridge Finance Corporation

Ares appoints Atalaya founding partner to co-head alternative credit unit
He will serve as co-head of Ares' $4 billion alternative credit unit alongside Keith Ashton 

Pennsylvania SERS appoints acting CIO
The $29 billion Pennsylvania State Employees’ Retirement System (SERS) has appointed deputy chief investment officer James Nolan as acting chief investment officer, effective from this weekend

Direct lenders brace themselves for distressed opportunities
Credit managers are launching distressed vehicles with a twist by narrowing their focus down to the direct lending market.

Ares credit business grows 4.4%, driven by US direct lending
US and European direct lending, alternative credit and syndicated loan funds dove growth for Ares Management Corporation in the second quarter, the firm said

Fund performance: Mercury rises as does credit fund performance

US university backs Asian direct lending fund
University of Michigan has committed $50 million to SSG Capital Partners V, according to documents seen by Creditflux