Distressed debt outperforms as Texas pension fund's credit strategies gain 11.2%
Texas County and District Retirement System (TCDRS), the $30 billion pension fund, generated 11.2% annualised returns from its credit portfolio for the year ending 30 June. Distressed debt was a major positive, but IG credit lost value

Californian pension fund moves $35 million into distressed debt
Sacramento County Employees' Retirement System has made a $35 million commitment to a distressed fund TPG Sixth Street Partners 

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

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

Tor more than doubles AUM for Asia credit fund, filings suggest
Hong Kong-headquartered Tor Investment Management has raised nearly $1 billion for its Tor Asia Credit Fund

BlueBay aims to capitalise on volatility with diversified alternative credit fund
The new Icav QIAIF will invest in a range of sub-strategies including global credit alpha, global long/short, event driven credit and emerging market credit alpha

LCM Partners acquires €300 million Spanish NPL portfolio
European alternative investment manager LCM Partners has acquired €300 million of Spanish non-performing SME loans from Barcelona-based Grupo Cooperativo Cajamar

Michigan pension fund looks to commit $80 million to debt funds
The $114 billion Michigan pension fund is looking to commit to two private debt funds managed by London-based Kreos Capital and New-York headquartered MidOcean Credit Partners

Pennsylvania pension awards $50 million to distressed debt fund
The $27.5 billion Pennsylvania pension fund has made a further $50 million commitment to TPG Sixth Street Partners 

Invesco raises $150 million for distressed debt fund
The vehicle, which has a $500 million target size, has raised a total of $146.18 million capital commitments, according to SEC filings

TPG credit fund edges nearer $3 billion final after $150 million pension mandate
TPG Sixth Street Partners, the credit arm of private equity giant TPG, has been awarded $150 million for TSSP Opportunities Partners IV

Credit interval funds thrive as investors value liquidity profile
“The interval fund structure’s time has come," says BlueBay's Blair Reid

Brantwood looks to launch credit special situation fund via online portal
Houston-based Brantwood Energy Partners is looking to raise capital for its energy credit special situations fund, picking a Canadian online portal to support fundraising efforts

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.     

Massachusetts pension fund invests $75 million with TowerBrook
Mass PRIM) has made a $75 million commitment to New-York based TowerBrook Capital Partners for its second structured opportunities fund, according to 15 May board documentation

Former Credit Suisse credit heads raise over $400 million for new fund
New York-based Arbour Lane Capital Management has raised just over $400 million for its second credit opportunities fund in less than a year, according to US SEC filings

Silver Rock raises $1 billion for opportunistic credit fund
Los Angeles based Silver Rock Financial has raised just over $1 billion for its opportunistic credit fund, according to US SEC filings.

GoldenTree grows third distressed debt fund to $600 million
New York-based GoldenTree Asset Management has raised nearly $600 million for its third distressed debt fund – just over a quarter of its target size

Manager targets €250 million for inaugural Italian direct lending offering
Milan-based Main Capital has plans to launch its inaugural Italian private debt fund, which will target €250 million capital commitments, according to Creditflux’s sister publication Unquote

Pension fund ups commitment to TPG special situations fund by $150 million
Kern County has upped its commitment to TSSP Adjacent Opportunities Contingent Fund, managed by TPG’s special situations platform TPG Sixth Street Partners, 9 May board documents reveal. 

Louisiana pension fund commits $75 million to new Oaktree fund
The Teachers Retirement System of Louisiana (TRSL) has made a $75 million commitment to distressed debt manager Oaktree, a spokesperson for the $9.5 billion pension fund confirmed

Sound Point wins $125 million mandate for strategic credit fund
Sound Point Capital Management has won a $125 million mandate for its Strategic Capital Fund, which will provide liquidity solutions to US stressed and distressed companies 

Courage braves credit market to launch new distressed debt fund
Courage Capital Management has launched its fourth credit opportunities fund, according to US SEC filings

Distressed debt specialist closes $727 million credit fund
Balbec Capital has announced the final close of InSolve Global Credit Fund III with $727 million capital commitments

Carlyle and Oppenheimer opt for interval fund structure as part of JV
The new private credit fund will invest at least 80% across loans and structured credit (Including CLOs), opportunistic credit, direct lending and liquid credit, SEC filings reveal