UK pension fund appoints manager for private debt portfolio
Hampshire County Council Pension Fund has appointed JP Morgan Alternative Asset Management as a private debt portfolio manager.

Pemberton closes strategic credit opportunity strategy at €1 billion
Pemberton has closed its first fund dedicated to strategic credit opportunities today

Pennsylvania pension commits $150 million to European credit funds
Pennsylvania State Employees’ Retirement System approved $975 million of investments at its 24 April meeting

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

Maryland pension carves out private debt bucket
The Baltimore pension fund has also mandated a total of $25 million to one direct lending fund and one distressed debt fund 

Credit funds at a glance

A round-up of fundraising and people moves in credit

Muzinich launches multi-strategy credit fund with Italian wealth manager
Available for retail investors, the fund will invest in syndicated loans, private debt and high yield. It will be structured as a European Long-Term Investment Fund

Italian manager launches fund for private debt opportunities
DeA Capital Alternative Funds, an Italian asset manager, has launched an alternatives fund to target global private debt investments, along with investments in private equity and infrastructure  

US pension backs Vista credit fund
Illinois Municipal Retirement Fund (IMRF) has approved a $50 million commitment to Vista Credit Partners Fund III, according to documents from the March board of trustees meeting  

Värde partners with Guber on €734 million NPL deal
Värde Partners along with Guber Banca have led a group of investors to make a joint acquisition of a €734 non-performing loan portfolio originated by 22 mutual, rural, and cooperative banks spread throughout Italy  

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

Unlevered direct lending funds bring in first-time investors
Unlevered direct lending funds are particularly appealing to first-time investors and one of the biggest managers in the business has taken note of this

Beechbrook completes £128 million first close for UK direct lending fund
The manager's second UK-focused sponsorless fund has gained the attention of British Business Bank 

Texas pension commits $200 million to credit
Texas County and District Retirement System (TCDRS) has earmarked $200 million for investments in strategic credit and direct lending in 2019, according to board documents seen by Creditflux  

Alantra holds interim close for second debt fund
The Spanish direct lender has also increased its target size for the strategy to a €175 million

Alaska pension commits $545 million to seven credit funds
Alaska Permanent Fund Corporation has earmarked $545 million to funds across the credit spectrum across Q2, according to 27 February board documentation

Apera closes inaugural private debt fund at €750 million
The fund surpasses its original €650 million target size

GSO plans follow-up European direct lending fund
GSO Capital Partners is putting together a senior debt fund and has the backing of Taiwan Life

Ares grows credit 34% with direct lending boost, but high yield takes rough ride in Q4
Ares Management Corporation reported strong returns for its European direct lending strategies in the fourth quarter of 2018. But the firm's overall revenues slumped and its US loan funds and high yield strategies were hit by the volatile credit market 

Tikehau garners €2.1 billion for European direct lending strategy
Tikehau Investment Management has collected €2.1 billion for its fourth private debt strategy - three times larger than its predecessor fund 

Allianz IM puts $200 million into Indian private debt
Allianz Investment Management has committed $200 million into the private debt platform of Edelweiss, an Indian diversified financial services firm.  

BlueBay closes fourth direct lending fund at €6 billion
BlueBay Asset Management has held a final close for its fourth private debt fund with over €6 billion of investable capital

HPS targets $8 billion for flagship mezzanine strategy
HPS Mezzanine Partners 2019, the firm's fourth fund in its mezzanine strategy, has won $100 million from a Louisiana pension fund 

Kreos exceeds €600 million target size for its largest direct lending fund to date
Kreos Capital has held a final close for its sixth European growth debt fund at €700 million

MV and EQ combine for €70 million for private credit fund
EQ Asset Management has raised €70 million for its second private credit fund in partnership with MV Credit, the fund of fund operator has announced