UK pension hires BNP Paribas AM for starring role in core-satellite private credit fund
UK pension fund Nest has appointed BNP Paribas Asset Management to run the core of a private credit fund, sources say, in an arrangement which sees Amundi and BlackRock manage certain satellite investments  

Maine pension boosts alternative credit bucket with $50 million US special situations mandate
The $14.9 billion pension fund continues to be underweight its 5% target allocation to alternative credit 

DWS holds €350 million first close for inaugural direct lending fund
DWS has garnered €350 million on the first close of its inaugural European direct lending strategy, according to an announcement by the firm

US pension allocates to Golub in bid to boost 'non-core fixed income' bucket
The State of New Mexico Investment Council has awarded $100 million to a senior debt fund managed by Golub Capital Partners, as part of a plan to bolster its non-core fixed income bucket

US pension injects $300 million into mezzanine debt and high yield
Virginia Retirement System has earmarked $300 million for investments in high yield and mezzanine debt, according to a document seen by Creditflux.  

Russell and Mediobanca launch multi-asset fund with CLO allocation
Mediobanca Private Banking has joined forces with Russell Investments to set up a fund that has a 20% allocation to credit, sources say  

Njord closes second European special situations fund at €271 million
Njord Partners has closed its second special situations fund, Njord Partners Special Situations Fund II, at €271 million

Partners Group brings global private debt strategy to Australian retail investors
Partners Group has bolstered its private debt offering to retail clients, collecting AUD550 million for a private debt offering which has been listed on the Australian Securities Exchange.

Past returns: From zero to $7.6 billion in five years
Five years ago in Creditflux we reported that Angelo Gordon was planning to move into US direct lending. Shortly after that the firm created a middle-market subsidiary known as Twin Brook Capital Partners and drafted in Trevor Clark and Chris Williams to lead the venture after the pair had left Madison Capital in 2013.

Veteran Ulmer targets array of private credit for new firm
Andrew Ulmer, who led the structured finance expansion at Brevan Howard, has resurfaced with his own asset management company, 1543 Capital, according to documents seen by Creditflux.

Portfolio Advisors wins $75 million for third mezzanine credit fund
Connecticut-based Portfolio Advisors has been backed by a US pension scheme and has plans to launch a senior debt initiative focused on first lien senior secured loans

Morgan Stanley registers new BDC with US regulators
Morgan Stanley Investment Management filed a statement with US regulators yesterday to register a business development company

Pimco's evergreen private debt fund attracts another US pension
Seattle City Employees’ Retirement System has become the latest manager to commit to Pimco's open-ended private credit fund 

California pension approves $10 million for Owl Rock first lien loan fund
A US pension fund has awarded $10 million to Owl Rock First Lien Fund, managed by middle market lender Owl Rock Capital Advisors

Allianz GI launches impact private debt and equity fund
The fund, which adds to its €6 billion assets under management of impact investments, will target a 5% to 7% internal rate of return 

Schelcher nears €300 million first close of European direct lending fund
The strategy - mainly focused on France - has recieved a €40 million commitment from the European Investment Fund

Maryland pension allocates $25 million to evergreen private debt fund
Anne Arundel County Retirement and Pension System has allocated $25 million to an evergreen private credit fund managed by Pimco

KKR adds CLO mezz and private credit to mix with opportunistic credit fund
The new interval fund will invest in opportunistic credit, including CLO mezzanine debt, as well as private debt 

Texas pension awards $250 million to US lending fund
Texas County & District Retirement System has awarded $250 million to a special situations fund managed by Silver Point Capital. The commitment will sit in its direct lending bucket

Beechbrook rolls up sleeves and begins fundraising
Beechbrook Capital is aiming to start fundraising for its fourth European sponsored debt fund in the fourth quarter. But the firm will take a slightly different approach to its previous funds.

Capital Four holds final close on nordic direct lending fund
The Copenhagen-based manager has held an €343 million final close for its latest private debt fund, according to market sources

RiverRock launches direct lending fund in partnership with European bank
RiverRock has launched a European direct lending fund in which it has signed an exclusive co-investment agreement with a bank

Pemberton pulls in €3.2 billion for European direct lending fund
Pemberton has closed its second European direct lending fund at €3.5 billion, exceeding its original €2.5 billion target size, and has deployed 70% of the capital

Minnesota pension slates $100 million for private credit
The pension fund has so far allocated $2.4 billion to private credit across 12 managers and 25 funds

Saratoga picks up its second SBIC license
Saratoga Investment Corp has received approval for another Small Business Investment Company (SBIC) license