Ellington hires business development head in London
Ellington Management Group has appointed Jonas Frantz to head up business development in Europe and the Middle East, according to market sources

Jefferies subsidiary and Stonyrock plan mid-market alternative manager stake acquisitions
The new joint venture will invest in private equity, credit, hedge funds, real estate, venture, and infrastructure firms

Maryland pension carves out private debt bucket
The Baltimore pension fund has also mandated a total of $25 million to one direct lending fund and one distressed debt fund 

Texas pension fund looks to top up credit portfolio
Texas County & District Retirement System (TCDRS) has decided to increase by 3% its target allocation to strategic credit  

Searchlight nears first close for $2.75 billion special situations fund
Searchlight Capital Partners is expecting to hold a first close for Searchlight Capital III April, according to documents seen by Creditflux

Shenkman targets $500 million for opportunistic credit fund
Shenkman’s opportunistic fund will aim to take advantage of the volatility in the market

Danish pension fund eyes niche credit opportunities
PensionDanmark is preparing for more volatility in 2019 by casting its eye towards niche opportunities in the special situations and distressed debt market. The Copenhagen-based pension fund last month merged its alternatives and private debt platforms

New Look bankruptcy credit event question put before Determinations Committee
The Credit Derivatives Determinations Committee for the Europe Middle East and Africa (EMEA) region has been asked to rule on whether New Look, the UK based clothes retailer, has triggered a bankruptcy credit event

Belgian pension fund appoints JP Morgan to run allocations to alternative investments
Hydralis, the statutory pension manager of Belgium water utility Vivaqua, has appointed JP Morgan to manage the fund’s allocation to unlisted assets for an eight years period, Creditflux has learned.  

GSO makes senior hire to lead distressed trading
GSO Capital Partners has bolstered its distressed trading desk with two hires 

US pension backs Vista credit fund
Illinois Municipal Retirement Fund (IMRF) has approved a $50 million commitment to Vista Credit Partners Fund III, according to documents from the March board of trustees meeting  

Steinhoff has triggered failure-to-pay credit event, rules DC
Steinhoff Europe has triggered a failure-to-pay credit event, the EMEA Credit Derivatives Determinations Committee has ruled unanimously

Värde partners with Guber on €734 million NPL deal
Värde Partners along with Guber Banca have led a group of investors to make a joint acquisition of a €734 non-performing loan portfolio originated by 22 mutual, rural, and cooperative banks spread throughout Italy  

US pension fund earmarks $375 million for various credit strategies
Massachusetts Pension Reserves Investment Management Board (Mass PRIM) has committed $125 million to distressed, $100 million to aviation investments, while earmarking $150 million for structured credit    

Kartesia fills vacancy in DACH with key hire from Bayside
Kartesia has hired Guiseppe Mirante as its head of credit opportunities for DACH, according to an announcement today

Isda tables plans to rid CDS market of narrowly tailored credit events
After lengthy deliberation, a working group of major firms is today set to publish proposals aimed at ridding the market of ‘narrowly tailored credit events’, whereby borrowers are persuaded to default on debt payments in order to trigger pay-outs for CDS holders

Oklahoma pension backs Pimco's evergreen credit fund
Oklahoma Firefighters Pension & Retirement System has decided to commit $75 million to Pimco Private Income Investment Strategy, according to minutes from the US pension fund’s board meeting in January.  

Distressed debt prospects limited, finds survey, but most expect 16-20% returns
The coming year will be a continued slog to find investment opportunities for distressed investors, according to half of respondents in a joint survey conducted by Debtwire and law firm Orrick

Private credit delivers strong returns for Finnish pension
Valtion Eläkerahasto (VER) has generated 12.4% from its private credit funds for 2018, according to its latest annual report  

Illiquid credit boost returns for PensionDanmark
PensionDanmark has generated 5.8% returns from its illiquid credit portfolio for the year 2018, according to its latest annual report published today. But its liquid credit portfolio took a 3.4% hit

Silver Point brings in $1.57 billion for distressed debt fund
The credit hedge fund manager, founded by ex-Goldman Sachs partners’ Edward Mulé and Robert O’Shea, has locked down $1.57 billion capital for its distressed debt fund 

Allianz IM puts $200 million into Indian private debt
Allianz Investment Management has committed $200 million into the private debt platform of Edelweiss, an Indian diversified financial services firm.  

Washington pension fund set to back TSSP strategy
Washington State Investment Board (WSIB), the $132.2 billion public pension fund, considers committing to TSSP Capital Solutions (TCS), according to documents seen by Creditflux.  

Pacific Gas & Electric triggers bankruptcy credit event
Pacific Gas and Electric Company has triggered a bankruptcy credit event, the Americas Credit Derivatives Determinations Committee has ruled, by 14 votes to one

Performing credit tops distressed credit for Blackstone, but credit AUM declines
The firm is looking to boost its direct lending business to gain $10 billion of available capital over the next couple of years