San Francisco pension bolsters private credit portfolio with €60 million commitment
San Francisco Employees’ Retirement System has awarded €60 million to a distressed debt fund 

Astaldi CDS auction sets 30.875 final price as physical settlement boosts recovery
An auction today to settle credit default swaps referencing Astaldi has determined the final price to be 30.875 cents on the euro, meaning a 69.125 cents pay-out per euro for protection buyers

Blackstone builds on multi-asset approach with fifth fund
The new vehicle will invest directly into Blackstone deals across its alternatives platform

Managers see growth in distressed and direct lending, but structured credit splits opinion
The private credit industry remains on track to grow to $1 trillion assets under management by 2020, according to joint research published by the Alterative Credit Council and law firm Dechert with allocations to distressed and mid-market deals tipped to rise. But structured credit has divided US and European managers

BNP Paribas' fund of fund platform holds first close on European mid-market strategy
BNP Paribas Asset Management's fund of fund business is targeting €250 million for a strategy which will allocate to "top tier" European mid market debt managers 

Blackstone grows credit assets by 31% over year
The firm achieved strong fundraising in credit, taking credit-related assets under managment to $130.6 billion in the third quarter, a 31% increase year-on-year 

Astaldi credit event question posed as its distress weighs on iTraxx Crossover
Astaldi, a constituent of iTraxx Crossover, has been referred to ISDA-hosted Credit Determinations Committees as a possible bankruptcy credit event – less than two weeks after the index rolled into a new series

Rolling the dice on Turkey and Italy
Gambling specialists with operations around the Mediterranean are facing political risks and currency falls – but there are opportunities to hit the jackpot if investors play their cards right

Oaktree raises new special situations fund while CIO warns of direct lending risk
Oaktree Capital Management has released its second quarter 2018 results in which the Los Angeles-based firm reported $2.4 billion of new capital commitments in the quarter

Aircraft lessors: gathering clouds lead to talk of turbulence
Aircraft leasing companies have been cruising over the past two years as passenger numbers grew, but rising interest rates and trade tariff concerns are making some bondholders nervous

65% of distressed managers plan new funds over the next year, survey finds
Distressed debt is proving to be a popular strategy for managers, with 65% intending to launch a distressed strategy in the next 12 months, according to a report by Creditflux’s sister publication Debtwire and law firm Ropes & Gray.     

Drug makers: desperately seeking pain relief
With Teva’s profitable Copaxone being undermined by cheaper alternatives, the company is in need of a pick-me-up. By Euan Hagger

Minnesota pension fund looks to commit $535 million to 'private credit'
Minnesota State Board of Investments has recommended investments worth $535 million to private credit, according to board documentation seen by Creditflux

Ironshield guards against future stress in Europe
The withdrawal of quantitative easing in Europe, coupled with rising interest rates, could lead to increased volatility and improved credit selection opportunities, especially among low-grade credits

US power generators: Falling prices spark bankruptcies
As renewables and gas undercut traditional power generators, bond holders are preparing for price shocks. By Euan Hagger

Oak Hill promotes three to partner
Oak Hill Advisors has promoted three managing directors to the position of partner, according to market sources

Bain swoops for another portfolio in Italy
Bain Capital Credit has acquired yet another portfolio of assets from a European bank

Local Pensions Partnership looks to go direct with £1.3 billion credit fund
The Local Pensions Partnership (LPP), which runs the pension schemes of two separate UK local government areas, has announced the launch of a £1.3 billion ($1.7 billion) credit fund

US pension fund agrees $200 million investment in new GSO distressed fund
GSO Capital Partners has got off to a strong start as it markets a new distressed debt fund. There are signs that the multi-billion offering is being sold in South Korea

Leading fund: Lupus Alpha CLO Opportunity Notes I
Single-B CLO trades boost Lupus Alpha asset Management

European loan specialist leaves sell side to join Black Diamond
Black Diamond Capital Management has added a European loan specialist to its team in London