CalPERS rolls out ESG due diligence for private debt investments
The California pension giant also has an investment mandate specific to battling climate change.  

BCI anchors Arini’s debut private credit fund with USD 200m
In addition to backing the new European direct lending fund, the institutional investor giant plans to deploy more than USD 400m in related co-investments

US pensions increasingly eye European private credit amid expanding allocations, diversification pressures
US public pensions have committed at least USD 4.4bn to European private credit strategies since July 2024  

CalPERS invests USD 16.2bn in private debt, mostly through custom accounts
The institutional investor committed USD 12.2bn to the asset class across 17 customized investment accounts in the past 12 months  

Access Pool plans to allocate GBP 350m to direct lending
UK-based pension system Access Pool is looking to allocate to direct lending strategies in Europe and the US 

PIMCO and Fidelity boost investing in CLOs
PIMCO and Fidelity ramp up their buying of CLOs with Fidelity swapping to purchase longer-dated paper

U.S. bank holdings of CLOs drop by USD 2b in 2Q: BofA research
Bank of America research report showed U.S. bank holdings of CLOs declined in 2Q, further winnowing expected in 3Q

Japanese investors and ETFs bid up CLO triple As as US banks cool off
CLOs saw healthy demand from Japan in the first three months of the year, with Japan Post Bank and Norinchukin each increasing investments in the asset class. Japan Post’s CLO holdings stood at JPY2.3 trillion ($17.51 billion) as of 31 March, an increase of $550 million in the quarter and up 32.7% on the year prior. Nochu added $110 million to JPY6.4 trillion ($48.2 billion), or 13% of the bank’s investment portfolio.

Virginia pension discloses $800 million in credit allocations
Virginia Retirement System has disclosed $800 million in credit fund allocations made over the first quarter of this year

Revolution wins private debt mandate from UniSuper
UniSuper, one of Australia’s largest super funds, has announced it mandated Revolution Asset Management to manage an Australian and New Zealand private debt portfolio

Uni of Michigan reveals $50 million CLO fund allocation
The Regents of the University of Michigan has revealed a $50 million allocation to a captive CLO equity fund

Illinois pension seeks direct lending and opportunistic credit funds for $300 million allocation
Illinois Municipal Retirement Fund is searching for direct lending, opportunistic, and distressed/special situations private credit funds with plans to allocate at least $300 million capital

Louisiana pension searches for US high yield manager for five-year contract
Teachers' Retirement System of Louisiana is searching for a US high yield fixed income manager

Deerpath leaps to $1.5 billion close for US lower mid-market direct lending fund
With leverage, the strategy has $2.8 billion in capital available to deploy

Adams Street targets $4.5 billion for third private credit strategy
Kentucky Public Pensions Authority is planning a re-up to the vehicle, according to a recent investor presentation

LP round up: securitised credit mandate terminated amid $5 billion allocations and expanding relationships
Institutional investors revealed nearly $5 billion of allocations to 31 credit managers across January and February board meetings, according to materials seen by Creditflux. However, there were also two fixed income manager terminations, and one multi-strategy account placed on a watchlist

New York lifts limit on pension alternatives to 35%
New York pensions have been granted the ability to elevate their alternative investment allocations from 25% to 35%. This comes after New York governor Kathy Hochul signed a bill on 23 December that lifts the “basket clause”

BC Credit targets $1.25 billion for third opportunistic credit fund
BC Partners Credit plans to deploy half the fund in private lending and structured equity opportunities and the other half in specialty lending and dislocated liquid credit deals

LA pension awards $675 million to illiquid credit managed account
The strategy will invest across asset-backed credit, loans, bonds, and specialty finance

Permira closes sixth CLO junior debt and equity fund
Permira Credit has closed its sixth European CLO junior debt and equity fund,  Permira Sigma VI

LDI funds prepare for return to CLOs and ABS early next year
Liability-driven investment (LDI) strategies that had to sell senior CLO tranches in droves could come back in for CLOs in the early part of 2023, sources say

Carlyle targets $6.5 billion for credit opps fund
Carlyle Group is targeting $6.5 billion for its third opportunistic credit fund, according to a pitchbook seen by Creditflux

LP round up: 27 managers find the top corner with investor wins
Credit fund managers like to take it one fund at a time and give it 110% for their 90-minute investor fund pitches - and it's working as $3.8 billion was allocated during November and early December. The gaffer would be proud. 

Texas pension allocates $75 million to CLO fund
Texas County District & Retirement System has allocated to its third CLO fund in three years 

Calpers allocates $2.75 billion to two credit managers
US pension heavyweight California Public Employees Retirement System earmarked $3 billion to credit funds in the third quarter of 2022, according to recent board materials