Distressed debt outperforms as Texas pension fund's credit strategies gain 11.2%
Texas County and District Retirement System (TCDRS), the $30 billion pension fund, generated 11.2% annualised returns from its credit portfolio for the year ending 30 June. Distressed debt was a major positive, but IG credit lost value

Californian pension fund commits $25 million to new US direct lending fund
A $3.01 billion pension fund has invested $25 million to a US direct lending fund managed by Twin Brook Capital Partners 

US pension fund's new private credit portfolio delivers strong early returns
A US pension fund recently created a private credit bucket and this has generated 9.25% time-weighted returns

Maine pension bolsters private credit allocation with $100 million mandate
The pension fund mandated $100 million to a US direct lending firm, after it was underweight its 5% target allocation to alternative credit 

London-based direct lender wins as San Francisco pension fund deploys into private credit
A Californian pension fund has mandated $60 million to a strategic credit fund, as part of its private debt pacing plan to deploy up to $750 million to private debt annually

New York pension fund earmarks $200 million to two private debt managers
The $115.5 billion pension fund has made $100 million commitments to two private debt managers in Q2 

Private credit helps drive returns for Alaska pension fund
The $64.9 billion sovereign wealth fund has generated 8.79% returns from private credit for the fiscal year ended 30 June

Italian pension fund seeks direct lending managers
Previndai, the €11bn pension fund for managers of industrial companies, has issued a notice seeking global and European direct lending managers

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

Audax wins $100 million direct lending mandate from US pension fund
The $3.5 billion Pennsylvania State Employees Retirement System has awarded $100 million to a US direct lending fund managed by Audax Group

Californian pension fund assigns $25 million to Monroe direct lending strategy
As part of its private credit pacing plan, the $5.4 billion pension fund will make a $75 million commitment to direct lending funds each year for the next three years

Japanese pension fund Chikyoren seeks private debt managers
Chikyoren, the pension fund allocation for local government officials in Japan, has issued a request for proposal in its search for private debt managers.

Sovereign investors' allocation to alternative credit increase rapidly, finds survey
Sovereign investors are increasing their exposure to CLOs, direct lending and bank loans, according to a 2018 Global Sovereign Asset Management Study published by Invesco this week

Danes work with Credit Suisse to bankroll direct lenders
Credit Suisse has forged an alliance with another pension fund in a partnership that will provide leverage to direct lenders

Ohio pension fund seeks to deploy $200 million in private credit
An Ohio pension fund is looking to commit $200 million to private credit in the next year

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

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

Pension fund ups commitment to TPG special situations fund by $150 million
Kern County has upped its commitment to TSSP Adjacent Opportunities Contingent Fund, managed by TPG’s special situations platform TPG Sixth Street Partners, 9 May board documents reveal. 

Sound Point wins $125 million mandate for strategic credit fund
Sound Point Capital Management has won a $125 million mandate for its Strategic Capital Fund, which will provide liquidity solutions to US stressed and distressed companies 

New York pension fund signs up to new SVP distressed debt fund
New York State Common Retirement Fund has made a $150 million commitment to distressed debt specialist Strategic Value Partners, board documentations reveal 

Ares targets €4.5 billion for fourth European direct lending fund
Los Angeles based Ares Capital Management has launched its fourth European direct lending fund, Ares Capital Europe IV, with a €4.5 billion target size, SEC filings show

US pension fund backs ICG's global mid market offerings
London-based Intermediate Capital Group has won further commitments from US pension funds for middle market credit investing

Massachusetts pension fund searches for direct lender
A Massachusetts pension fund is looking to commit to $7.5 million to direct lending, according to board documents seen by Creditflux.

Tikehau raises over €200 million for French loan fund
Paris-based Tikehau has launched its latest Novo fund, which is endorsed by the French Insurance Federation