US pensions funds allocate to Lone Star and Raven credit strategies
Two US-based pension schemes have invested in funds with exposure to credit, highlighting the appetite of institutional investors towards off-the-run asset classes.

Managers look east as Asian credit fundraising takes off
Several asset managers have outlined plans for growth in Asia as one of their foremost priorities this year.

Jefferies subsidiary and Stonyrock plan mid-market alternative manager stake acquisitions
The new joint venture will invest in private equity, credit, hedge funds, real estate, venture, and infrastructure firms

Credit funds at a glance

A round-up of fundraising and people moves in credit

BlackRock names global alternatives head amid senior leadership shake-up
BlackRock has reshuffled its leadership and made several senior changes across various parts of its business, according to an internal memo seen by Creditflux

Fiera buys private credit and real estate specialist in $74 million deal
The transaction will add $3.1 billion of assets under management to Fiera Capital Corporation 

UK pension allocates £900 million to four private debt managers
The £21.9 billion pension fund has awarded £900 million to three private debt managers and one real estate debt manager, according to 6 March board minutes

Texas pension fund creates new credit bucket
The Employees Retirement System of Texas (ERS) has approved a 3% opportunistic credit allocation, according to documents from an investment advisory committee meeting in March seen by Creditflux  

Italian journo pension scheme presses ahead with plan to invest in private debt
The National Institute for Italian Journalists' Social Security (INPGI) has launched a tender notice seeking closed-ended private debt funds to invest in, or unlisted debt instruments including infrastructure debt, private corporate debt and real estate debt  

New Energy increase target size for infrastructure credit fund
New Energy Capital has increased its infrastructure credit fund’s target size by $100 million following strong capital fundraising, US regulatory filings reveal

Strathclyde pension looks to allocate up to £1.1 billion into credit
Glasgow City Council, the administering authority for the Strathclyde Pension Fund, has launched request for proposals (RFP) seeking to appoint investment managers specialising in private corporate debt and real estate debt.

Swiss financial company SYZ launches private markets division
The family-owned Swiss financial group has launched a private markets division to invest and advise across private equity, private debt and real estate - as it is “too big to ignore”

Värde raises $400 million for Asia credit fund
Värde Partners has closed its inaugural Asia-focused fund at $400 million - six months after launching

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

New Mexico allocates $175 million to credit
New Mexico State Investment Council has awarded a $75 million commitment to real estate debt and $100 million commitment to a multi-credit fund

August: fund performance
CLO spreads jumped wider in August, but funds that invest in these assets have been able to outperform

September: credit funds at a glance
White Oak Global Advisors held a $2.1 billion final close on a new direct lending fund, while Phil Raciti's move from CVC Credit Partners to Halcyon Capital Management was one of the biggest moves in the credit industry

M&G targets £250 million for UK-listed multi-strategy credit fund
M&G is targeting £250 million (£328.6 million) for a new closed-end investment trust, which will be listed in the UK

BlackRock becomes latest manager to explore interval fund structure for credit
Several managers have hit the market with the interval fund structure, as investors look to invest in illiquid strategies through an illiquid fund structure

UK pension fund NEST seeks 'innovative' private credit manager
The £3.4 billion pension fund issued an invite to tender for private credit managers 

US pension fund's new private credit portfolio delivers strong early returns
A US pension fund recently created a private credit bucket and this has generated 9.25% time-weighted returns

Institutional investors are too constrained in their private debt approach, research suggests
Institutional investors are too constrained in their approach and are focusing too much on mid-market corporate direct lending, research from global advisory firm Willis Towers Watson suggests

Credit drives strong returns for five of the largest asset managers in the business
Carlyle is close to hitting its ambitious fundraising target; direct lending has been kind to Ares; and Och-Ziff has decided to shed its US CLO risk retention stakes after exiting its financing agreements

KKR forms lending JV to target "clear need for UK mainstream housing development"
KKR and London-based Urban Exposure, a specialist residential development finance provider, have formed a strategic partnership and launched a lending joint venture to target significant opportunities in "mainstream housing throughout the UK”.  

Investors eye alternative credit ahead of expected interest rate increase – report
Investments in alternative credit are set to rise among institutional investors over the next 12 months, according to an alternative credit report published by NN Investments Partners