Investors pledge cash after turning to direct lender Prestige
Just like every magic trick has three parts, every fundraising has three stages: building a track record, marketing and, the most difficult, delivering strong returns. Prestige is clearly performing well as it gains three investor mandates

Manager edges closer to its $3 billion hard cap on credit fund
A California pension fund has approved a commitment for up to $30 million in a credit and distressed debt fund

Chicago manager launches $1.2 billion leveraged direct lending fund
A new mid-market credit fund has raised $415 million equity capital, exceeding its original $350 million target

Pennsylvania pension fund to invest $150 million in TPG credit strategy
The Pennsylvania State Employees’ Retirement System has confirmed it will invest $150 million in TSSP Adjacent Opportunities Partners, a business of Fort Worth and San Fracisco-based TPG Sixth Street Partners

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)

Orlando pension fund ups its private debt allocation
The Orlando Police Pension Fund is set to increase its target allocation for private credit by 2%, documents seen by Creditflux reveal

Los Angeles pension fund considers investing in CLOs
A large LA pension fund wants to boost returns from its fixed income portfolio and has set its sights on CLOs and private debt

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

New Mexico council allocates $100 million each to four credit-focused funds
The New Mexico Investment Council is poised to invest in an HPS Investment Partners loan fund and boost its investments in three credit-focused funds

New Jersey pension to invest $200 million with boutique private debt manager
The New Jersey State Investment Council is poised to invest in a private debt fund run by Chatham Asset Management

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

Large insurers staff up for major expansion into direct lending
Large insurance companies are looking to take on the heavy-lifting of direct lending themselves 

Asian airline operator approves $30 million ticket for new CarVal credit fund
US credit strategies continue to attract capital from Asian investors with CarVal Investors the latest asset manager to distribute a fund in the continent

East coast pension fund commits $50 million to Carlyle private credit fund
The New Hampshire Retirement System has committed to invest $100 million to Carlyle Group, including $50 million to a private credit fund

Catholic fraternity puts its faith in Audax for private debt partnership
New York-based Audax Management Company and New Haven-based Knights of Columbus Asset Advisors have partnered together on a private debt fund that has raised almost $123 million in a year

Local Pensions Partnership looks to go direct with £1.3 billion credit fund
The Local Pensions Partnership (LPP), which runs the pension schemes of two separate UK local government areas, has announced the launch of a £1.3 billion ($1.7 billion) credit fund

Kentucky pension funds invest $150 million in two US managers
Kentucky Retirement Systems has agreed to invest $150 million in private credit assets with two US asset managers, and has hired a new consultant to advise on asset allocation

US pension fund eyes private credit and increases credit allocation by 2%
A Pennsylvania pension fund is expected to up its target credit allocation and decreased its target allocations to private markets and real estate

Canadian pension giant makes big hire for new European direct lending unit
Caisse de Dépôt et Placement du Québec (CDPQ) has made its move into European direct lending

Illinois pension fund to invest in new NXT and Riverstone credit funds
An Illinois pension fund is set to invest $125 million with NXT Capital and $100 million with Riverstone Credit Partners as it ups its income allocation target by 1%

Devon pension fund hires two firms and creates £150 million private credit bucket
A Devon pension fund is set to introduce a 3% allocation to the private debt asset class.

Dakota pension fund awards $300 million to asset management giant
Dakota pension fund cuts MBS exposure to make space for an investment in a coporate bond fund

New York pension gets behind CLO manager's risk retention vehicle
The New York State Common Retirement Fund invested $450m in two credit funds in July, documents seen by Creditflux reveal

Arizona retirement trust ups its private debt allocation by $75 million
The Arizona Public Safety Personnel Retirement System (PSPRS) is set to up its private debt allocation, committing up to $75 million to a New York-based manager.