US pension fund hires fixed income manager
Howard County Retirement Plans has appointed Payden & Rygel to oversee a $40 million absolute-return fixed income portfolio, according to documents seen by Creditflux  

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

US pension drops BlueBay from credit programme
Virginia Retirement System (VRS) has terminated BlueBay Asset Management from its credit strategies programme, according to a document seen by Creditflux  

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.

US pension backs insurance credit fund
Montana Board of Investments has committed $40 million to an insurance credit fund opportunity fund managed by Vida Capital Management, according to a document seen by Creditflux.  

Canadian pension awards €300 million to middle market real estate debt
Canada Pension Plan Investment Board (CPPIB) has awarded €300 million to a separately managed account focused on real estate across Spain and Portugal. The pension fund did not name who this partnership was with 

LibreMax wins $200 million for structured credit managed account
The managed account will target 10 to 40 investments across a range of different strategies including CLOs, consumer, residential, commercial and regulatory capital.

US pension seeks private debt manager
The Massachusetts Water Resource Authority Employees’ Retirement System has launched a request for proposals searching for an investment firm to manage a private debt and private equity mandate

US pension fund earmarks $1.3 billion for credit
Teachers’ Retirement System of the State of Illinois (TRS) is set to commit $1.3 billion to credit funds, as part of its global income portfolio.  

New York teachers’ pension backs energy credit fund
New York State Teachers’ Retirement System has committed $200 million to a credit fund managed by Orion Energy Partners, according to documents seen by Creditflux  

Indiana pension hires ICG as it shakes up credit portfolios
Indiana Public Retirement System (INPRS) has shaken up its credit and fixed income allocation, either by committing to new funds, or by restructuring its portfolios, according to documents seen by Creditflux  

Ohio pension to launch private debt co-investment programme
Ohio Police & Fire Pension Fund has decided to set up a co-investment program involving private debt opportunities potentially, according to documents seen by Creditflux  

US pension backs Pimco to reach private credit target
Ventura County Employees’ Retirement Association (VCERA) is set to commit an additional $25 million to Pimco Private Income Fund

UK pension hires BNP Paribas AM for starring role in core-satellite private credit fund
UK pension fund Nest has appointed BNP Paribas Asset Management to run the core of a private credit fund, sources say, in an arrangement which sees Amundi and BlackRock manage certain satellite investments  

Maine pension boosts alternative credit bucket with $50 million US special situations mandate
The $14.9 billion pension fund continues to be underweight its 5% target allocation to alternative credit 

US university backs Kayne's mid market fund
The University of Michigan Regents has committed $25 million to  mid market fund with a flexible remit 

US pension allocates to Golub in bid to boost 'non-core fixed income' bucket
The State of New Mexico Investment Council has awarded $100 million to a senior debt fund managed by Golub Capital Partners, as part of a plan to bolster its non-core fixed income bucket

Boston pension looks to allocate $60 million to private debt
The Boston Retirement System has launched a request for proposals in which it seeks a manager to oversee a $60 million private debt portfolio

US pension injects $300 million into mezzanine debt and high yield
Virginia Retirement System has earmarked $300 million for investments in high yield and mezzanine debt, according to a document seen by Creditflux.  

Arkansas pension shakes up credit portfolio
Arkansas Local Police and Fire Retirement System has made changes to its credit portfolio, adding new commitments to credit managers and terminating some existing relationships, according to a document seen by Creditflux  

ESG education top priority for 42% of institutional investors, CFA Society finds
Global Institutional investors are increasingly adopting ESG into their investment decision making – but education on the topic and quality ESG data are needed to help them progress, according to a survey conducted by CFA Society in New York

Narrowly tailored event protocol set to go live in weeks
Investors have until 14 October to sign up to an Isda protocol aimed at stamping out narrowly tailored credit events (NTCEs) from the CDS market.

Roll week leaves CDS in strange places
CDS traders navigate a much-changed landscape in October, after one of the most impactful index rolls in recent times.