New York Life Investment Management and Candriam increase Kartesia stake to 80%
The two firms previously held 33% of the ownership of the private debt company, which is expected to enter the European CLO market soon

Janus launches higher risk-return CLO ETF for institutional investors
The new CLO ETF will focus on investing in AA to A CLO tranches and will offer a slightly higher target return than the firm’s flagship AAA CLO ETF product

US life insurers increase commitments to CLOs and private credit – Fitch

Alt IM-backed life insurers in the US are increasing their allocations to CLOs and private credit in the search for higher yield

Samsung Life becomes latest institution to take minority stake in Hayfin
Insurer Samsung Life joins Mubadala and AXA IM Prime as minority stakeholders in Hayfin

Apollo looks elsewhere, saying CLOs suffer from commoditization
The alternative asset manager said CLOs have tightened to levels that are unsustainable

Ares diversifies away from institutional, commingled private funds
During the second quarter, 55% of capital came from the institutional channel and just 30% of this was for its traditional funds

US private credit firm Brinley secures USD 4bn commitment from US insurer; USD 1bn to fund inaugural CLO
The CLO will be the first in a planned series of rolling vintages, and looks to meet the specific needs of the insurance sector 

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

PIMCO and Fidelity boost investing in CLOs
PIMCO and Fidelity ramp up their buying of CLOs with Fidelity swapping to purchase longer-dated paper

U.S. bank holdings of CLOs drop by USD 2b in 2Q: BofA research
Bank of America research report showed U.S. bank holdings of CLOs declined in 2Q, further winnowing expected in 3Q

Uni of Michigan reveals $50 million CLO fund allocation
The Regents of the University of Michigan has revealed a $50 million allocation to a captive CLO equity fund

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”

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. 

Texas pension allocates $75 million to CLO fund
Texas County District & Retirement System has allocated to its third CLO fund in three years 

Investors urged to look at CLO funds amid PE slowdown
Institutional investors are said to be eyeing CLOs and structured credit as they seek to calibrate duration risk and prepare for recession. In addition, year-to-date performance in private equity portfolios isn’t meeting pension funds’ tough returns targets

LP round up: $2.7bn flows to 20 credit managers as investors battle PE overallocation
Investors faced huge headwinds in September with inflation, rising interest rates, and geopolitical turmoil, alongside the UK gilts sell-off at month end

US insurers’ CLO exposure jumped 12% in 2021 amid widening investor base: NAIC
US insurers’ CLO exposure increased by around 12% to $216.3 billion in book / adjusted carrying value by the end of 2021, up from about $192.9 billion the year before, according to an annual report by the National Association of Insurance Commissioners

US pension ups allocation to two CLO funds
Rhode Island State Investment Commission has upped allocations to two CLO funds it allocated $125 million each to the funds last summer

LP round up: 28 credit managers win $6.6 billion as San Diego carves private credit allocation
Pensions allocated over $6.6 billion to credit managers in June including Angelo Gordon, Antares, Apollo, Ares, Beach Point, BioPharma, Brookfield, CarVal, Cerberus...

Chicago pension seeks private credit manager
Direct lending, structured credit, distressed/special situations, specialty finance, and multi-strategy funds will be considered

LP round up: Fidelity wins big, Pacific retains loan mandate, pensions eye distressed
The month also included one CLO fund commitment, one high yield manager search, one finalised US loans mandate and one $400 million multi-sector fixed income managed account mandate

US CLO fund wins $16 million from San Jose pension
The $5 billion pension awarded the allocation to a manager's fourth US CLO fund, having previously allocated to its second and third fund 

LP round up: two CLO funds win support as Cali pensions home in on private credit
Two investors revealed allocations to European and US CLO funds, private credit allocations increases and private credit consultant searches get underway

Insurance capital charges may force CLOs to do the splits
The National Association of Insurance Commissioners’ (NAIC) long-awaited capital charges rejig is now in place, and it could result in life insurers changing their habits and CLO issuers splitting tranches