Private debt impact funds demonstrate their value in emerging markets
Private debt is becoming an important channel for impact investing with over a third of impact investing AUM tied to private debt, according to a new survey

New York pension fund allocates $400 million to two private debt funds
New York State Common Retirement Fund has awarded $400 million to two private debt managers: GSO and Vista Equity Partners, Creditflux has learned

Antares promotes loan specialist Lyne and ex-JP Morgan CLO chief Mathew
Private credit giant Antares Capital has announced that founding partner Timothy Lyne has been appointed senior managing director and co-head of sponsor coverage while Vivek Mathew has been promoted to head asset management and funding

BlackRock expands US private debt capabilities with TCP acquisition
BlackRock has agreed to acquire $9 billion asset manager Tennenbaum Capital Partners

Missouri pension fund selects Brightwood and Monroe for private debt mandate
The St Louis Public School Retirement System has committed $22 million to private debt, according to board documents seen by Creditflux

Structured credit specialists seek future-proofing in direct lending
At the turn of the last credit cycle, structured credit recovered spectacularly – but credit managers today seem to be gravitating towards private credit as the area to pick up excess returns in a downturn

Direct lenders pile into "turbocharged" market as fundraising skyrockets: report
Growth in the direct lending market in the 12 months to 31 December was “turbocharged,” growing robustly in the fourth quarter 2017 in particular due to a consistently growing Eurozone economy, according to Deloitte

Ohio pension backs BlackRock multi-asset and BlueBay direct lending funds
BlackRock and BlueBay have each won commitments from a $14.7 billion Ohio pension fund

Oak Hill BDC's assets continue to nosedive as board explores options
As it continues to bleed assets, Oak Hill Advisors’ direct lending business development company (BDC) has jettisoned the last of its energy assets

Private equity firm hits target size with $170 million for its first credit fund
Technology-focused private equity firm Accel-KKR has raised $170 million – and hit the total offering amount – for its series 1 Credit Partners fund, which appears to be a direct lending strategy

Sharp decreases mar THL direct lending BDC's latest financial results
THL Credit has reported a decrease in net assets from operations and net investment income in its newly released financial results, but chief executive Christopher Flynn remains "confident" in the underlying value of the direct lending business

UK pension mega-fund to increase credit allocation following equity reduction
One of the UK's largest pension funds looks set to increase its allocation to credit after reducing its equity allocation by 15%

FS Investment BDC's assets shrink for fifth year running
FS Investment Corporation, an FS Investments business development company (BDC), failed to grow its assets again in 2017 – but insists its recently announced partnership with KKR will allow it to grow stockholder value

Carlyle’s direct lending BDC hits $2 billion, buoyed by inflows to credit fund
Carlyle’s Group’s direct lending business development company, TCG BDC, has announced a net increase in assets of $27 million for the most recent quarter

Antares and Crescent win as Texas pension fund commits to direct lending
The sky is the limit for direct lenders, with Texas County and District Retirement System committing $253 million to that market

Investors swarm to healthcare direct lending fund led by Locust
New Jersey-based Locust Point Capital has raised about $96 million for a new private credit fund, regulatory filings show

Toronto manager gives new purpose to fund formerly subadvised by Lazard AM
An energy-focused credit fund has converted into an actively managed open-end fund with exchange-traded fund (ETF) and mutual fund units. Formerly subadvised by Lazard Asset Management, the fund will now be managed by Redwood

Chicago manager holds initial close for $1 billion private credit fund
Monroe Capital has held a $348 million initial close for its third private credit fund, which has a $1 billion hard cap, market sources say

Ares switches to C-Corp structure as it announces "record year" in earnings release
Ares has announced a change to its corporate tax status in an earnings release that described 2017 as “a record year” for the firm

AB reports "exceptional" 2017 and growing AUM
AB has reported its earnings for 2017, described by chief executive officer Seth Bernstein as an “exceptional” year for the firm

AUM drops but Oaktree dubs 2017 a "strong" year
Alternative investment specialist Oaktree Capital Management has reported a slight decrease in assets under management for the year of 2017 – but the Los Angeles-based firm’s chief executive described the year as a “strong” one for the company

KKR considers switching from partnership to corporation
Global investment firm KKR is considering a change to its legal structure, with the firm’s senior management and board of directors currently evaluating whether to convert from a partnership to a corporation, or C-corp

Texas pension fund commits $100 million to distressed debt fund
Texas County and District Retirement System has committed $100 million to a Connecticut-based fund manager

Direct lending head says market is overheating
A 2018 outlook report by KKR suggests now’s the time to reduce exposure to direct lending. This comes as another part of KKR goes on a direct lending fundraising spree

Comvest raises $836 million for leveraged direct lending fund
Following its rebrand in November, middle-market lender Comvest Credit Partners has exceeded the $650 million target size for it fourth direct lending fund