Varagon opens Chicago office to focus on healthcare and hires three
Varagon Capital Partners has built out its platform with the opening of a Chicago office to focus on healthcare finance opportunities, hiring a team of three to lead the healthcare effort

Los Angeles pension fund looks for direct lender to take on $670 million mandate
The $16.9 billion pension fund approved a new asset allocation in April this year and is now issuing a private credit mandate for 3.75% its total fund assets 

Sagard exceeds $500 million target for debut credit fund
Sagard Holdings, the investment platform of Power Corporation of Canada, has already raised more than $545 million for its inaugural credit fund

RiverRock prepares €1 billion European senior loan fund
Direct lender RiverRock European Capital Partners is targeting €1 billion for its latest European loan offering, Creditflux understands.

BDCs find variety of routes to higher leverage but remain cautious of two-times limit
Business development companies have been granted flexibility by US regulators, but there seems to be little consensus on the best way to take advantage

Direct lenders flock to Munich as German deal flow picks up
German private debt is attracting a growing number of fund managers. Market sources say that deal flow through the first half of the year was at 65% of 2017’s total and had surpassed the number of private debt deals executed by funds in each of the previous five years

Alaska pension fund puts $123 million to work following $1 billion credit platform launch
Alaska Permanent Fund Corporation (APFC) has made a $123.3 million commitment to a European direct lending fund

Full steam ahead: Italian railway workers' pension fund seeks private debt exposure
Eurofer, the €1 billion Italian pension fund, for railway workers, is seeking debt managers, with a focus on infrastructure, real estate or unlisted real estate companies.

Cairn adds to its SRT investment team in London
Cairn Capital has appointed Chris Cottrell as senior investment analyst

BlackRock becomes latest manager to explore interval fund structure for credit
Several managers have hit the market with the interval fund structure, as investors look to invest in illiquid strategies through an illiquid fund structure

39% of private debt investors are underweight, but they're looking for opportunities
485 Investors have come together to reveal their thoughts about allocation, in a survey conducted by London-based investment consultant bfinance

Goodhart unveils new platform to invest in private debt and equity firms
London-based Goodhart Partners has launched a new platform to focus on strategic minority investments, predominantly in private debt and private equity firms.

HarbourVest adds managing director to growing US private credit team
HarbourVest Partners has bolstered its private credit team with the addition of Karen Simeone, who joins as managing director

Hamilton Lane hires business development official in Munich as it seeks DACH expansion
Hamilton Lane has appointed Martina Schliemann as principal and head of business development in the DACH region, in a bid to expand its presence in Germany, Austria and Switzerland.

White Oak raises $2.1 billion for US sponsorless direct lending strategy
White Oak Global Advisors has held a final close for its direct lending strategy, White Oak Yield Spectrum Fund, with $2.1 billion of capital commitments 

Alcentra forms $1 billion strategic partnership with SME loans specialist Funding Circle
Fixed income specialist Alcentra has bolstered its US direct lending capabilities and formed a strategic partnership with Funding Circle

Beechbrook edges towards first close for £300 million UK SME fund
Strathclyde Pension Fund has mandated £30 million to Beeechbrook UK SME Credit II, which will target a 8%-9% net IRR

Stifel builds out leveraged finance team with big hire
The new unit will focus on origination, underwriting, and syndication of leveraged loans and high-yield securities

Four private credit managers score as Arizona pension fund commits $250 million
The $9.78 billion pension fund has mandated nearly $250 million to four private credit managers, alongside additional commitments for co-investment opportunities 

CVC Credit hires managing director to private debt team in London
CVC Credit Partners has strengthened its European private debt team with a hire from ESO Capital

Distressed debt outperforms as Texas pension fund's credit strategies gain 11.2%
Texas County and District Retirement System (TCDRS), the $30 billion pension fund, generated 11.2% annualised returns from its credit portfolio for the year ending 30 June. Distressed debt was a major positive, but IG credit lost value

Californian pension fund commits $25 million to new US direct lending fund
A $3.01 billion pension fund has invested $25 million to a US direct lending fund managed by Twin Brook Capital Partners 

US pension fund's new private credit portfolio delivers strong early returns
A US pension fund recently created a private credit bucket and this has generated 9.25% time-weighted returns

GSO registers new direct lending fund after going solo
After its partnership with FS Investments reached an end, GSO Capital Partners has registered a new direct lending fund with US regulators

Italian bank completes SRT with European Investment Fund support
Banca Popolare di Bari has constructed a €174.5 million significant risk transfer (SRT) deal, which features a vertical risk sharing mechanism