Market favours retrospective over forward-looking approach to Ibor benchmark fallbacks, says Isda
New benchmark fallbacks for derivatives contracts that reference interbank offered rates are likely to be based on the “compounded setting in arrears rate” and the “historical mean/median approach to the spread adjustment”, the International Swaps and Derivatives Association has said

Asian credit manager holds $178 million final close on loan platform
Hong Kong-based ADM Capital has held a final close for Asia Secured Lending Facility II 

Los Angeles pension backs Lone Star fund
Los Angeles Fire and Police Pension System has approved a commitment of up to $40 million to Lone Star Fund XI, according to a monthly report  

Dai-ichi anchors global infrastructure debt fund with $176 million
Asset Management One Alternative Investments has joined together with Dai-ichi Life Insurance to launch a new global infrastructure debt fund

Allianz GI boosts alternatives platform with new Asian private credit unit
Allianz Global Investors has launched an Asian private credit unit and has made two hires to spearhead the effort,

Japanese pension fund Chikyoren seeks private debt managers
Chikyoren, the pension fund allocation for local government officials in Japan, has issued a request for proposal in its search for private debt managers.

Texas pension fund earmarks $650 million to four private debt funds
Angelo Gordon, HIG Whitehorse and Värde have secured commitments from the Texas pension fund for their direct lending funds

IFM looks set to launch infra debt fund for Korean institutional investors
IFM Investors and KDB KIAMCO are looking to launch their second joint infrastructure debt fund – this time, targeting Korean institutional investors

EM manager takes assets across two funds to $1.4 billion after big inflows
Two funds managed by a New York-headquartered firm have reached a combined $1.4 billion after big inflows

Marathon EM fund picks up the pace with at least $58 million of inflows
Marathon Emerging Markets Bond Fund, a long-only investment fund focused on liquid assets in the global emering market, has raised at least $155 million, SEC filings show

Ares targets €4.5 billion for fourth European direct lending fund
Los Angeles based Ares Capital Management has launched its fourth European direct lending fund, Ares Capital Europe IV, with a €4.5 billion target size, SEC filings show

Market's newest ESG bond fund targets Australian and New Zealand investors
Less than two years after launching an equity version, Dimensional has unveiled a sustainable bond fund for investors in Australia and New Zealand

Columbia unveils new Luxembourg-domiciled global credit strategy
Columbia Threadneedle has unveiled its newest credit fund, which will emulate the investment approach taken by its €2 billion predecessor fund

Church Pension looks to the heavens and gives its blessing to solar debt fund
New York-headquartered Social Investment Managers & Advisors (SIMA) has won a $17 million mandate from the Church Pension Fund for its Off-Grid Solar Debt Fund 

Infrastructure manager raises $6.5 billion in equity and debt mandates
Global infrastructure manager IFM Investors raised $6.5 billion in infrastructure equity and debt globally between 1 July 2016 and 30 September 2017

Sell-side credit analysts land at Muzinich in London
Muzinich has raided Citi and Deutsche Bank for credit analysts with Richard Smith and Terence Teh joining the firm in London

KKR's private credit fund fund targets Hong Kong and now South Korea
KKR has raised $301.1 million for its KKR Private Credit Opportunities Partners II (EEA) LP fund, which appears to be targeting Asia-based investors

Metrics targets retail as funds reshape Australia’s loan market
Fund launch marks a turning point for a corporate loan market that has been largely inaccessible to non-bank investors since the financial crisis

US pension fund agrees $200 million investment in new GSO distressed fund
GSO Capital Partners has got off to a strong start as it markets a new distressed debt fund. There are signs that the multi-billion offering is being sold in South Korea

Barings goes global with new mid-market strategy after rapid fund raise
Barings says that it has raised $1.3 billion for a new middle-market credit fund after less than six months on the marketing trail

Abraaj steps up fundraising for new $500 million global credit fund
The International Finance Corporation is looking to make a $20 million allocation to a new credit fund being launched by Abraaj Group

Morgan Stanley hires credit trader in Hong Kong
The Asian credit market continues to exhibit signs of growth with market sources indicating that Morgan Stanley has added an Asia-focused credit trader to its team