Private credit funds could find better buying opportunities this year, says NEPC
Institutional investors looking to allocate to private credit in 2020 should focus on distressed debt, opportunistic credit and niche lending, according to investment consultant NEPC, with 2019 vintage funds potentially seeing “better buying opportunities” despite valuations being at cyclical highs

Investors preferred real asset debt to corporate private debt in 2019, finds Bfinance
Bfinance stated that, in dollar terms, real asset debt searches conducted by investors outweighed corporate private debt searches in 2019

New York pension allocates $100 million to US direct lending fund
New York State Teachers Common has awarded $100 million to a direct lending fund, as its private debt portfolio delivers 10.7% net IRR 

Louisiana pension earmarks $30 million for US private credit
This isn’t a first time relationship for the $1.8 billion pension fund, who previously granted  $50 million to the manager's previous fund in October 2018

Ares wins $750 million for direct lending SMA with another $100 million in the pipeline
Two US based pension schemes have recently backed or looked to commit to direct lending products managed by Ares Management, according to documents seen by Creditflux  

Texas pension backs ICG credit fund
Texas County & District Retirement System (TCDRS) committed $167 million to a fund managed by Intermediate Capital Group in January, according to documents seen by Creditflux.  

Louisiana pension to put $125 million into direct lending and fund financing
The Teachers’ Retirement System of Louisiana is set to invest $125 million for two credit funds, according to documents seen by Creditflux  

Calpers eyes exposure to private debt
California Public Employees Retirement System is looking to introduce private debt to its portfolio, according to documents seen by Creditflux  

'Speciality finance' gains momentum as US investors go deeper into private credit
Institutional investors are continuing to invest in niche, speciality finance strategies - including litigation financing and life sciences - following intense competition and overcrowding in US private credit 

HIG WhiteHorse reaches $1.1 billion final close for direct lending fund
HIG WhiteHorse has announced a final close on its direct lending fund, HIG WhiteHorse Principal Lending Fund

Private debt takes centre stage as Arizona looks to bolster credit allocation to 25%
Arizona State Retirement System remains bullish on credit with the $41.9 billion institution looking to bolster its entire credit allocations to almost a quarter of the fund - and private debt will take centre stage in the Arizona pension’s growth plans

US pension backs two private debt managers, but retreats from syndicated loans
San Antonio Fire & Police Pension Fund ended 2019 bullish on private debt but shying away from syndicated loans

Texas pension commits $250 million to large US direct lender
Texas County & District Retirement System closed out 2019 with a $250 million allocation to US direct lending

Insurance companies could ramp exposure to CLOs and private credit in 2020
US-based insurers have roughly $7 trillion in assets and a small increase in allocations could have huge implications for the leveraged loan market, CLOs and private credit managers—a dynamic that could unfold in 2020

US pension hires Wilshire as ESG consultant
The Rhode Island State Investment Commission has appointed investment advisor Wilshire Associates as environmental, social, and governance consultant at a contract worth up to $75,000  

US pension backs special opportunities fund
Virginia Retirement System (VRS) has committed $150 million to a special opportunities fund, managed by Ares Management Corporation  

Florida pension seeks private credit consultant for new strategy
City of Jacksonville Retirement System has launched a request for proposals, searching for a firm to provide private credit consulting services  

Pennsylvania pension creates private credit bucket
Pennsylvania State Employees’ Retirement System has approved a new 4% allocation to the private credit asset class

US university backs private credit fund
The University of Michigan Regents has committed to a private credit fund that purchases small balance commercial and industrial loans

Californian pension commits $15 million to Angelo Gordon credit fund
San Mateo County Employees' Retirement Association (SamCERA) has approved a $15 million commitment to a fund managed by Angelo Gordon, according to documents seen by Creditflux  

US pension allocates $150 million to private credit
Alaska Permanent Fund Corporation (APFC) has backed two private credit funds, committing $150 million to the asset class  

UK pension partnership launches maiden private credit offering at £581 million
Border to Coast Pensions Partnership (BCPP) is set to commit £581 million in private credit, as part of its maiden offering in this asset class  

West coast pension looks to step up direct lending allocations
The City of Fresno Retirement System will commit $140-160 million to private credit for the next two years, according to board documentation seen by Creditflux. This comes amid a pause in direct lending commitments for the pension fund, which has not committed any capital to this market in 2019

Minnesota pension to invest $300 million in distressed and private credit funds
Minnesota State Board of Investments is set to invest $100 million in a mezzanine debt fund and $200 million in a distressed debt fund

Arizona pension to deploy up to $700 million a year in private credit
Arizona Public Safety Employee System is looking to deploy $600-700 million in private credit strategies per year in order to meet its target allocation, according to board documents seen by Creditflux.