Third Point adds three MDs from Apogem
The new private credit team members will help source middle market direct lending deals

OHA closes in on USD 6bn for large cap senior direct lending fund
The open-ended fund is targeting sponsor-backed corporate borrowers with an EBTIDA greater than USD 75m, the firm previously told institutional investors

MetLife IM appoints global head of private fixed income
The role was left open after Brian Funk was promoted to president earlier this summer

HIG WhiteHorse corrals USD 5.9bn for US direct lending
The latest fund will be used to originate senior-secured loans for both sponsored and non-sponsored corporate borrowers

PGIM closes sophomore senior debt fund with USD 4.2bn
The commingled, private fund will be used to lend to middle-market companies across North America, Europe and Australia

Private credit managers find “white space” even as capital concentrates among the few – Mercer
Institutional investors commit most of their capital to established private credit firms of scale, but they’re often more willing to take a chance on newcomers in strategies outside of direct lending

Monroe launches client solutions group to build blended portfolios
EXCLUSIVE: The private credit firm is forming a team to build products that mix investments across strategies such as direct lending, CLOs, structured credit, venture and more

FS Investments readies opportunistic credit fund, targets USD 750m
EXCLUSIVE: The vehicle, which will be the second opportunistic fund from FS, is set to launch in the third quarter of this year

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

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 

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

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

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

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. 

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 

Chicago pension seeks private credit manager to invest in evergreen fund
The Chicago pension is looking to invest in a private credit manager with an evergreen fund structure

LP round up: two managers terminated as 20 win $2.5 billion
US institutional investors allocated over $2.5 billion to 20 credit managers in October, according to documents seen by Creditflux. Two credit fund managers however were terminated in the month

Silver Point targets $4 billion for third specialty credit fund
The Greenwich, Connecticut-headquartered manager invests across several areas of lending including secondary market loans, hung syndications, rescue finance, and hard asset lending opportunities during periods of dislocation