LP round up: $2.8 billion flows to credit as Apollo concedes fundraising may slow
Florida Retirement System Trust Fund made the largest commitments allocating $1.6 billion. Apollo meanwhile acknowledged a potential slowdown in fundraising as investors await results on an independent review into CEO Leon Black's relationship with Jeffrey Epstein

Insurance firm seeks CLO debt and ABS exposure
Investment consultant Callan is requesting proposals on behalf of an undisclosed insurance company for a CLO manager and ABS manager

New York pension allocates $250 million to CLO fund
New York State Common Retirement Fund has allocated $250 million to a CLO-focused vehicle, according to a recently released September transaction report

LP round up: $5 billion flows to credit as private market allocations increase
Global institutional investors allocated nearly $5 billion to credit funds this week, according to documents seen by Creditflux

Barings and PGIM win loan and structured credit mandates as pension puts £2.7bn in credit
The firms will manage global syndicated loans, securitised credit, emerging market debt and global high yield credit for Border to Coast Pension Partnership's £2.7 billion ($3.43 billion) multi-asset credit fund 

HarbourVest fights back over CLO fund investment after Highland's objection
HarbourVest Partners, the key investor in risk retention vehicle Highland CLO Funding, has shot back at Highland Capital Management in court, arguing it had not insisted on changing the manager on its CLO fund from Acis to Highland, as Highland had claimed

Liberty pulls off successful equity b-wic auction
The first successful equity b-wic following the pandemic selloff took place last month, with several sources telling Creditflux that insurance company Liberty Mutual was behind the auction

LP round up: horseshoe does the trick for Pimco and other distressed managers
Institutional investors poured $2.7 billion into credit this week through 14 managers, according to board documentation seen by Creditflux

Insurers' CLO triple A and double A investments can survive most severe stress tests, report finds
A stress test performed on US insurers' CLO investments, as of December, shows that even under the most severe coronavirus default and recovery assumptions, double A and triple A-rated tranches are protected against principal losses

LP round-up: mighty Oaks win $1 billion apiece from Calpers
Credit investors allocated over $3 billion to 18 credit managers this week across a wide range of strategies

Zais structured credit fund gains 13% for US pension
Zais Group has generated 13.1%  returns to a west coast pension fund through its CLO-focused strategy dubbed ‘Zephyr 7’

Eagle Point wins $100 million from US pension and launches 'defensive' CLO fund
Eagle Point Capital Management has won a $100 million mandate for its CLO strategy and has separately launched a new fund - Eagle Point Defensive Income Fund

US pension's joint venture with Barings set to produce first CLO
Jocassee Partners, a joint venture established between Barings' business development company and South Carolina Retirement Systems, is marketing a CLO

Private credit wins investor as Maryland pension introduces 5% allocation
Howard County Retirement has introduced a new bucket to the private credit asset class, reducing its core bond and hedge fund exposure to facilitate this measure, according to board documents seen by Creditflux

Waiting game pays off for European pension fund
Finnish pension fund Ilmarinen has been investing more in European CLO tranches after valuations dipped to their lowest levels in a decade, thanks to a distressed CLO fund strategy it put in place two years ago.

Looming CLO downgrades will not force insurers to sell despite seven-point trading basis
Insurance companies are unlikely to be big sellers of CLO paper, despite the threat of mass downgrades as rating agencies last month put over 1,000 global CLO tranches on negative watch

US pension gains 6.5% in three days after putting $350 million into credit
Marathon, Waterfall, ArrowMark and Columbia were allocated $350 million from a US pension for structured credit, Talf and high yield mandates

Three CLO investors win mandates from US insurer
New York State Insurance Fund has selected 11 credit managers to invest around $1 billion across corporate loans, high yield bonds and CLO tranches, according to documentation seen by Creditflux. Three  of these mandates are geared towards CLOs 

Brigade collects $100 million for 'senior tranche' SMA
Brigade Capital Management has won a $100 million mandate from Texas County & District Retirement System for a structured credit fund geared towards senior tranches

Massachusetts pension commits $200 million to structured and corporate credit
Massachusetts Pension Reserves Investment Trust has approved commitments with CKC Credit Opportunity and LMCG Serenitas  

California pension earmarks $190 million for IG structured credit as it goes defensive
San Mateo County Employees Retirement Association has earmarked $190 million to a securitised credit managed account

Napier Park beats 47 managers to win pension's lucrative credit mandate
Napier Park Global Capital has emerged as the winner for a $500 million illiquid credit mandate for Los Angeles County Employees Association, after the pension recieved 48 responses to its original request for proposal 

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

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.