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 

PE hold periods have shrunk but fast acquisitions can lead to botched integrations
Buyout multiples are likely to stay high – but moving fast and specialising can help firms make money

New kids on the block dominate awards

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.

Barings shows way forward with BDC-sponsored CLO
The unusual move by Barings BDC to issue a US CLO suggests a new way for BDCs to lock in cheap financing and withstand volatility.

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 

BMO makes rare CLO appearance with mid market deal
Greensledge has helped BMO Asset Management price its first middle market CLO since 2015

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

Sacramento pension backs healthcare fund
Sacramento County Employees Retirement Scheme (SCERS) committed $35 million to OrbiMed Royalty & Credit Opportunities in April, according to a monthly report of new investment activity seen by Creditflux  

MGG appoints direct lenders to two US offices
Direct lender MGG Investment Group has appointed two officials to its New York and Dallas team, Creditflux has learned

Barings BDC forms $550 million JV with South Carolina pension
The new joint venture will invest in both liquid and illiquid credit

US pension to invest $75 million in private debt
Vermont pension investment committee (VPIC) has decided to commit $75 million in private debt, following a private credit strategic investment plan recommendation plan recommendation by its investment consultant NEPC.  

Spire wins Creditflux Manager of the Year award
Spire Partners was the big winner at Creditflux's Manager Awards last night as the London-based manager scooped the award for the manager of the year. On top of this, the firm picked up awards for Best European CLO Manager and Best European CLO for Aurium CLO II