Texas pension commits $250 million to large US direct lender
Texas County & District Retirement System closed out 2019 with a $250 million allocation to US direct lending

Insurance companies could ramp exposure to CLOs and private credit in 2020
US-based insurers have roughly $7 trillion in assets and a small increase in allocations could have huge implications for the leveraged loan market, CLOs and private credit managers—a dynamic that could unfold in 2020

New York pension commits $225 million to distressed credit
New York State Common Retirement Fund has earmarked $225 million to invest in a fund and a co-investment vehicle managed by Blantyre Capital  

US pension hires Wilshire as ESG consultant
The Rhode Island State Investment Commission has appointed investment advisor Wilshire Associates as environmental, social, and governance consultant at a contract worth up to $75,000  

Texas pension appoints CIO
Teacher Retirement System of Texas has appointed a new chief investment officer, effective from January 2020  

US pension backs special opportunities fund
Virginia Retirement System (VRS) has committed $150 million to a special opportunities fund, managed by Ares Management Corporation  

Pitching your structured credit fund: the three golden rules
Structured credit fund managers were given a lesson in how to market their strategies by a group of asset allocators at the Creditflux CLO Summit in New York.

Points up front: ‘We’re slow and not smart’
Politicians on the campaign trail would do well to take a leaf out of Brian Starr’s book.

Florida pension seeks private credit consultant for new strategy
City of Jacksonville Retirement System has launched a request for proposals, searching for a firm to provide private credit consulting services  

Pennsylvania pension creates private credit bucket
Pennsylvania State Employees’ Retirement System has approved a new 4% allocation to the private credit asset class

US university backs private credit fund
The University of Michigan Regents has committed to a private credit fund that purchases small balance commercial and industrial loans

Californian pension commits $15 million to Angelo Gordon credit fund
San Mateo County Employees' Retirement Association (SamCERA) has approved a $15 million commitment to a fund managed by Angelo Gordon, according to documents seen by Creditflux  

US pension allocates $150 million to private credit
Alaska Permanent Fund Corporation (APFC) has backed two private credit funds, committing $150 million to the asset class  

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