Mid-market CLO manager sells minority stake to Aberdeen Standard division
A $10 billion US mid-market private credit firm has sold a passive minority equity stake to Bonaccord Capital Partners

LP round-up: investors gift private debt and leveraged loan RFPs over holiday season
2020 ended on a strong note with four institutional investors increasing asset allocation to private debt or initiating private debt and leveraged loan searches. ArrowMark, Banner Ridge, BBAM, HIG Whitehorse, Monroe and Rialto were also awarded mandates

LP round up: Monroe and Angelo Gordon beat 25 for direct lending mandate, as private credit plans brew
US public pension funds have disclosed $1.2 billion in commitments to credit focused strategies

Monroe sets $1.5 billion target for fourth lower mid-market direct lending fund
The Chicago-headquartered manager is targeting $1.5 billion for Monroe Capital Private Credit Fund IV. The vehicle held a $276.2 million first close last month

Direct lenders turn to attractive non-sponsored deals
Non-sponsored deal flow has increased in August and lenders are grabbing the opportunity. These deals typically exhibit a premium to sponsored deals, but with plenty of cash chasing middle market M&A, lenders have previously found quality deals tough to find

Iowa pension allocates $50 million to two private credit managers
Municipal Fire and Police Retirement System of Iowa has funded a commitment to credit after cutting infrastructure allocation by 2% 

Opportunistic credit funds take advantage of deal flow 'bonanza'
Opportunistic credit managers could emerge as big winners of the covid-19 crisis, if they raise money quickly to capitalise, as the pandemic sets off a chain of events causing severe financial stress in the market

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

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

Monroe adds four to its opportunistic private credit team
Monroe Capital has expanded its opportunistic private credit team with four hires: Darrick Ginkel, Chris Spanel, Jason Starr and Joseph Valickus

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.  

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.  

Monroe adds ex-Medley official to west coast origination team
The new hire will be based in Los Angeles 

Ninepoint teams up with US direct lender for fund launch
The move comes after the Canadian asset manager launched a new trade finance fund earlier this week

Capitala adds ex-Monroe official to lead Texas origination
Capitala Group has appointed an ex-Monroe managing director  to lead the origination in its newly opened Dallas office

Iowa pension to commit $200 million to private credit in 2019 as it addresses shortfalls
Iowa Public Employees Retirement System (IPERS) plans to make $200 million in private credit commitments during 2019, according to documents seen by Creditflux, comprising of $100 million each to Monroe Capital and Tennenbaum Capital Partners

Monroe launches $1.33 billion US direct lending fund
With leverage, Monroe Capital will have more than $2.5 billion of capital available for investments

Orange County pension fund commits to Monroe direct lending strategy
Orange County Employees Retirement System (OCERS), has committed $75 million to Monroe Capital Private Credit Fund III, but it's also reducing its overall allocation to credit    

Benefit Street Partners taps Monroe and BlackRock for private debt origination hires
Benefit Street Partners has made two senior appointments to its private debt origination team

Californian pension fund assigns $25 million to Monroe direct lending strategy
As part of its private credit pacing plan, the $5.4 billion pension fund will make a $75 million commitment to direct lending funds each year for the next three years

New Hampshire pension agrees $50 million investment in direct lending
New Hampshire Retirement System (NHRS) has committed $50 million to a Chicago-based direct lender

Missouri pension fund selects Brightwood and Monroe for private debt mandate
The St Louis Public School Retirement System has committed $22 million to private debt, according to board documents seen by Creditflux

Monroe hires vice president in investor relations team
Chicago-based direct lender Monroe has appointed Ryan Flanders as a vice president in its New York office

Chicago manager holds initial close for $1 billion private credit fund
Monroe Capital has held a $348 million initial close for its third private credit fund, which has a $1 billion hard cap, market sources say