Michigan pension commits over $300 million to credit
State of Michigan Retirement System has earmarked $302 million for new commitments to credit during the period April to June 2019, according to a document seen by Creditflux.  

California pension backs Owl Rock direct lending fund
Alameda County Employees’ Retirement Association (Acera) has earmarked $80 million for a direct lending fund managed by New York based manager Owl Rock

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

Texas pension to lift direct lending budget to $250 million
Texas County & District Retirement System (TCDRS) is considering investment in a number of direct lending funds, with existing and new managers, according to documents seen by Creditflux  

Californian pension backs infra debt fund
Sacramento County Employees Retirement Scheme (SCERS) has awarded $40 million to a US infrastructure fund managed by IFM Investors, according to a recent report of investment activity by the pension fund.  

Commonfund seeks to diversify manager pool with new portal
Commonfund will launch an online 'diverse manager portal' designed specifically to receive due diligence materials from women and minority-led managers investing in equities, fixed income and credit, real estate and hedge funds

University foundation searches for 'alternative' asset manager
Vancouver Island University Foundation (VIUF) has launched a request for proposal (RFP), seeking an alternative manager for a CAD3.5 million portfolio  

West coast pension eyes European private credit for diversification
The $3.1 billion pension fund is looking to diversify its private credit exposure following an asset class education by investment consultant Meketa

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

Credit funds at a glance
A round-up of fundraising and people moves in credit

Illinois pension replaces consultant Callan with Wilshire
Illinois Municipal Retirement Fund (IMRF) has appointed Wilshire Associates to serve as investment consultant and performance measurement services provider, effective from January 2020  

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

US pension seeks private credit consultant and ESG services
New Jersey Division of Investment has launched a request for proposals (RFP) searching for hedge fund and private credit investment consultant services. It has also launched a search for environmental, social and governance (ESG) ratings, research and related services  

Silicon Valley pension to invest $20 million in private debt
San Jose Federated City Employees Retirement System and Health Care Trust is set to make commitments of $20 million in private debt, as part of its fiscal year 2019-2020 pacing plan, according to documents seen by Creditflux  

Los Angeles pension appoints four managers for private credit mandate
Los Angeles City Employees Retirement System (Lacers) has awarded four contracts for a $670 million private credit mandate search, according to minutes from the July investment committee meeting.  

BlueMountain buyout to bring CLO equity shift, funding pledge and Feldstein payout
BlueMountain Capital Management’s co-founder Andrew Feldstein looks set to receive a substantial pay-out in common shares of Assured Guaranty, which has agreed to buy the manager for around $160 million and has outlined a three-year plan for its CLOs

US pension scheme eyes 50 South Capital fund of funds
50 South Capital Backed Credit Fund II, a fund-of funds vehicle, is set to invest in four loan funds in small and medium size companies, according to documents seen by Creditflux  

Texas pension seeks direct lending funds backed by hard assets
San Antonio Fire & Police Pension Fund is launching a private debt search with a focus on hard-asset lending, according to pension fund meeting documents seen by Creditflux  

Pennsylvania SERS appoints acting CIO
The $29 billion Pennsylvania State Employees’ Retirement System (SERS) has appointed deputy chief investment officer James Nolan as acting chief investment officer, effective from this weekend

US university backs Asian direct lending fund
University of Michigan has committed $50 million to SSG Capital Partners V, according to documents seen by Creditflux  

Utah fund set to invest $45 million across Beach Point and Crestline funds
The Utah School & Institutional Trust Fund Office is set to make commitments to credit funds managed by Beach Point Capital Management and Crestline Investors

UK pension pool to launch maiden private credit offering
Border to Coast Pensions Partnership is launching its first private credit offering in early Q4, Creditflux has learned

US pension fund to invest $490 million in private credit by 2023
Alameda County Employees Retirement Association has launched a private credit portfolio, with plans to invest up to $490 million and meet a target allocation of 4% by 2023  

Raven asset-based fund gets nod from San Joaquin pension for an extension
The San Joaquin County Employees’ Retirement Association approved an extension of its $50 million investment with Raven Asset Management to June 2020

Californian pension backs investment in BlueBay spin out
Ventura County Employees’ Retirement System has agreed to maintain investment in BlueBay’s private debt business following this being span out into a new entity, according to a board meeting document seen by Creditflux