US pension backs Summit credit fund
Ann Arbor City Employees' Retirement System, the $517.5 million US pension fund, has approved a $9 million investment with Summit Partners Credit Fund III, according to board documents seen by Creditflux.  

California pension fund seeks opportunistic credit manager
Merced County Employees’ Retirement Association is on the search for an opportunistic credit manager, according to board minutes seen by Creditflux

Los Angeles pension fund plans $3.7 billion allocation to credit
Los Angeles City Employees' Retirement System, the $17 billion pension fund, is allocating to credit in 2019 - it's looking to put $2.44 billion to work in core-fixed income, $800 million into emerging markets debt, $235 million into high yield and a similar amount into a bond/loan hybrid fund

Iowa pension plan seeks high yield manager
Iowa Public Employees Retirement System (IPERS), a $30 billion public pension fund, is searching for one or more firms to manage its high yield portfolio    

Alaska fund appoints CIO
Alaska Permanent Fund Corporation (APFC), the $65 billion sovereign wealth fund, has promoted an official to chief investment officer.

Calpers appoints CIO
California Public Employees Retirement System (Calpers), the $360 billion pension fund, has appointed Yu Ben Meng as chief investment officer.

Texas pension awards $175 million to distressed debt and strategic credit
The $30.1 billion Texas pension fund has mandated $175 million to Arbour Lane and Marblegate 

Swedish pension fund's credit portfolio recovers with strong 2018 results
Andra AP-Fonden (AP2), the SEK 352.4 billion ($38.7 billion) state-owned pension fund, generated 5.6% absolute returns from non-domestic credit investments for the first half of 2018

Shetland Islands pension looks to terminate bonds and introduce direct lending
A UK pension fund is looking to terminate its bond mandate and introduce a 12.5% direct lending and 12.5% alternative funds asset allocation, according to board documentation seen by Creditflux

Consultant calls on investors to quiz managers over ESG processes
The lack of consistent and reliable data seems to be a major challenge when embracing environmental, social and governance (ESG) criteria across private equity, infrastructure and credit.

Texas pension fund puts $150 million into credit
A $29.7 billion pension fund has approved commitments to two credit fund managers

Californian pension fund looks to increase exposure to opportunistic credit
Merced Country Employees Retirement Association (MCERA) may increase its exposure to opportunistic credit, according to documents seen by Creditflux

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

Canadian pension fund launches inaugural green bond
The Toronto-headquartered pension fund has become the first ever pension fund to issue a green bond

Alaska pension fund creates $1 billion credit platform
In conjunction with the new credit platform, Alaska Permanent Fund Corporation has created a $500 million private credit co-investment fund with California-based Pathway Capital Management

San Francisco pension fund to deploy up to $4.5 billion in private debt
The City and County of San Francisco Employee’s Retirement System has revealed details of its new private debt pacing plan - which will see it deploy up to $4.5 billion and partner with up to 25 private debt managers over the next six years

Ohio pension backs BlackRock multi-asset and BlueBay direct lending funds
BlackRock and BlueBay have each won commitments from a $14.7 billion Ohio pension fund

Texas pension fund re-ups commitment to opportunistic credit fund
Texas County & District Retirement System has further allocated $50 million to Beach Point Capital Management, according to documents seen by Creditflux

Goldman Sachs BDC and university endowment extend JV’s investment period
A joint venture between Goldman Sachs BDC and University of California Regents has extended its investment period for two months, regulatory filings show

Calpers executive set to leave the pension fund to rejoin Franklin Templeton
Wylie Tollette is leaving his role at the California Public Employees’ Retirement System (Calpers) to return to Franklin Templeton Investments, with his last day at the pension fund set for 5 January

Hermes wins $400 million mandate to show investing ethically really is worth it
Hermes Investment Management has won a $400 million mandate to oversee a global high yield credit portfolio on behalf of Swedish pension fund giant Första AP-Fonden (AP1)

Pimco fund edges closer to $5 billion hard cap with new pension fund injection
Pimco's special situations fund, already above $3 billion, has picked up fresh inflows from a Pennsylvania pension fund

LA pension fund monitors high yield manager Aegon amid SEC investigation
The Los Angeles City Employees Retirement System (Lacers) is currently monitoring its high yield manager Aegon, which is under SEC investigation

Ohio pension fund drops Penn after rewriting its allocation to high yield
The Ohio Police and Fire Pension Fund (OP&F) decided last month to drop Penn as part of its decision to downsize the high yield asset class, according to a fund announcement

Institutional investors - does Europe still provide the best opportunities in credit?
Cash or synthetics, CLOs versus CMBS, senior or junior debt? Institutional investors have a variety of ways to approach credit investing and Creditflux's biannual survey of credit allocators aims to determine which market they view as offering compelling returns