Korean institution hunts for direct lending managers
Korea Post has launched a request for proposals in which it seeks out two managers to invest a total of $200 million into global direct lending loans  

Carmignac adds global credit Ucits strategy to its range
The fund will be co-managed by Carignac’s head of credit Pierre Verlé and fixed income fund manager Alexandre Deneuville

CDX EM adds Gulf top tier as MCDX goes sub-IG
The March roll of CDS indices brings notable changes to two products in the IHS Markit suite, CDX EM and MCDX, following users’ feedback on trading requirements

Isda tables plans to rid CDS market of narrowly tailored credit events
After lengthy deliberation, a working group of major firms is today set to publish proposals aimed at ridding the market of ‘narrowly tailored credit events’, whereby borrowers are persuaded to default on debt payments in order to trigger pay-outs for CDS holders

US dollar three-month is focus point for benchmarks, finds Ice Libor survey
One-, three- and six-month US dollar and sterling are the focus points for Ice Benchmark Administration to seek agreement with banks, according to the results of IBA’s survey on uses of Libor

US pension seek real estate debt managers
The State Universities Retirement System (SURS) has launched a real assets investment search, seeking private core, private core plus, and private non-core real estate managers, on both debt and equity  

Virginia pension fund commits to Asian private credit
Virginia Retirement System (VRS) approved a $150 million commitment to the SSG Capital Partners V fund at a January board trustees meeting, a spokesperson has confirmed.  

Central counterparties need to improve after Nasdaq Clearing member default, says Isda
Derivative central counterparties (CCPs) must look to make a number of improvements to risk practices, the International Swaps and Derivatives Association has said in a paper that follows a clearing member default at Nasdaq Clearing in September

Majority of investors seek to increase private credit allocations, BlackRock survey reveals
Over half of investors plan to increase their allocation to private credit in 2019, according to an institutional client rebalancing report published by BlackRock

Hyundai allocates $250 million to US real estate debt
Hyundai Investments has mandated $250 million to a real estate debt fund co-managed by Related Cos and HPS Investment Partners

New Zealand Superannuation Fund hires CIO
New Zealand Superannuation Fund (NZSF) has appointed Stephen Gilmore to serve as chief investment officer  

Market favours retrospective over forward-looking approach to Ibor benchmark fallbacks, says Isda
New benchmark fallbacks for derivatives contracts that reference interbank offered rates are likely to be based on the “compounded setting in arrears rate” and the “historical mean/median approach to the spread adjustment”, the International Swaps and Derivatives Association has said

Los Angeles pension backs Lone Star fund
Los Angeles Fire and Police Pension System has approved a commitment of up to $40 million to Lone Star Fund XI, according to a monthly report  

Dai-ichi anchors global infrastructure debt fund with $176 million
Asset Management One Alternative Investments has joined together with Dai-ichi Life Insurance to launch a new global infrastructure debt fund

Derivatives margin threshold should be €100 billion notional not €8 billion, says Isda
A regulatory threshold that requires counterparties to post initial margin (IM) on derivatives trades if they hold €8 billion notional or more exposure should be raised to €100 billion, the International Swaps and Derivatives Association has argued

Eaton Vance adds former Janus Henderson official as credit portfolio manager
Dónal Kinsella joins as institutional portfolio manager for the firm’s corporate credit strategies

Isda transfers credit determinations secretary role to subsidiary
The International Swaps and Derivatives Association has relinquished its role as secretary to the credit derivatives determinations committees (DCs) with the appointment of a new unit, DC Administration Services (DCAS), to manage this function

Isda extends deadline for derivatives benchmark consultation
The International Swaps and Derivatives Association has extended the fast-approaching deadline for its consultation on derivatives benchmark fallbacks, to allow more time for responses

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

Four private credit managers score as Arizona pension fund commits $250 million
The $9.78 billion pension fund has mandated nearly $250 million to four private credit managers, alongside additional commitments for co-investment opportunities 

Pimco receives nearly $400 million for ESG fixed income mandate
 An $11 billion super fund has awarded a new ESG-focused fixed income mandate to Pimco

Illinois pension fund appoints private debt consultant and awards $75 million to credit
The $51.3 billion pension fund has appointed consultant Aksia to manage its private debt investments and has mandated up to $75 million to a private debt manager

CPPIB moves into Australian real estate debt fund
The $272.6 billion Canada Pension Plan Investment Board has partnered with Sydney-based Challenger Investment Partners to provide middle market real estate loans in Australia and New Zealand 

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

Texas pension fund earmarks $650 million to four private debt funds
Angelo Gordon, HIG Whitehorse and Värde have secured commitments from the Texas pension fund for their direct lending funds