Calpers misses returns target despite fixed income outperformance
California Public Employees' Retirement System (Calpers) has missed its annual investment target despite strong performance from its fixed income portfolio, which was its top performer  

EIB and Amundi form green partnership for high yield, private debt and securitisations
Amundi and the European Investment Bank (EIB) have teamed-up to launch Green Credit Continuum (Greco) programme with the aim of raising €1 billion over the next three years for green credit initiatives

Investment platform set to launch debut direct lending offering
A platform providing individuals with access to private market funds, is set to launch its first private debt offering imminently, according to market sources  

Italian pension seeks private debt access
Fondo pensione Telemaco has launched a request for proposal, seeking a private debt manager for a €50 million portfolio

Beechbrook earns backing from fund-of-funds operator as it launches Irish SME strategy
Lower-mid market lender Beechbrook Capital has held a €35 million first close on its new Irish-focused private credit strategy

Bantleon expands into IG credit with head of corporate credit appointment
Bantleon has appointed Michael Hess for the newly created role of head of portfolio management corporate credit.  

UK pension scheme quits tobacco
Nest is set to go tobacco free across all its investments, with the largest UK pension master trust expecting that the process will take up to two years.  

PSP's private debt portfolio generates 9.2% return
Public Sector Pension Investment Board (PSP) has generated a 9.2% one-year rate of return of its private debt portfolio, exceeding its 5.7% benchmark, 

US pension replaces Cliffwater with Meketa
Connecticut Retirement Plans and Trust Funds has selected Meketa as a consultant to oversee its opportunistic investments, which consists of direct lending and opportunistic credit investments, along with investments in hedge funds and real assets.  

US pensions funds allocate to Lone Star and Raven credit strategies
Two US-based pension schemes have invested in funds with exposure to credit, highlighting the appetite of institutional investors towards off-the-run asset classes.

HSBC pension chief joins London CIV in top role
London Collective Investment Vehicle (London CIV) has appointed Mark Thompson to serve as chief investment officer (CIO), effective from September.  

Los Angeles pension fund narrows down global direct lending search to four managers
Los Angeles City Employees Retirement System (Lacers) has listed the finalists for a private credit mandate, according to an agenda document seen by Creditflux.  

London pension fund appoints interim CIO
London Collective Investment Vehicle, the fund manager for the pooled investments of 32 London Local Authority Pension Funds, has appointed Michael Pratten as interim chief investment officer  

Bain plans $3 billion distressed fund with US pension fund eyeing commitment
Pennsylvania Public School Employees Retirement System (PSERS) is set to invest $200 million to Bain Capital Distressed and Special Situations 2019 (DSS 19) fund, according to documents seen by Creditflux.  

Border to Coast pension seeks exposure to UK investment grade credit
Border to Coast Pensions Partnership is set to begin a manager selection process, seeking UK investment grade credit and global multi-asset credit funds  

Ohio pension backs GSO's upcoming European direct lending fund
Ohio Police & Fire Pension Fund (OP&F) has approved a $50 million commitment to GSO European Debt Fund II

Largest UK pension appoints new CEO of investments
Universities Superannuation Scheme (USS) has appointed a new chief executive officer of its investment management business  

Illinois pension backs real estate funds
Illinois Municipal Retirement Fund has earmarked $150 million for commitments to Rockwood Capital Real Estate Partners XI and Blackstone Real Estate Debt Strategies IV.  

UK pension fund appoints manager for private debt portfolio
Hampshire County Council Pension Fund has appointed JP Morgan Alternative Asset Management as a private debt portfolio manager.

US pension fund to commit $1.1 billion in private credit by 2020
Investment consultant NEPC has recommended that Arizona Public Safety Personnel Retirement System (PSPRS) commit $550 million in private credit in both 2019 and 2020, according to a private credit review  

Pennsylvania pension commits $150 million to European credit funds
Pennsylvania State Employees’ Retirement System approved $975 million of investments at its 24 April meeting

Maryland pension carves out private debt bucket
The Baltimore pension fund has also mandated a total of $25 million to one direct lending fund and one distressed debt fund 

Korean institution hunts for direct lending managers
Korea Post has launched a request for proposals in which it seeks out two managers to invest a total of $200 million into global direct lending loans  

Searchlight nears first close for $2.75 billion special situations fund
Searchlight Capital Partners is expecting to hold a first close for Searchlight Capital III April, according to documents seen by Creditflux