Texas pension awards $250 million to US lending fund
Texas County & District Retirement System has awarded $250 million to a special situations fund managed by Silver Point Capital. The commitment will sit in its direct lending bucket

EQT looks to raise €500 million via IPO
The initial public offering is anticipated to increase EQT's flexbility to “pursue growth opportunities” and expand its private market investing business

Last of GSO's co-founders departs
It's the end of an era as GSO Capital Partners co-founder Bennett Goodman (the 'G' in GSO) will step down from the firm at the end of the year 

Bain garners $973 million for middle market fund
Bain Capital Credit has garnered $973.4 million its latest US direct lending mezzanine strategy, Bain Middle Market Credit 2018

Silicon Valley pension to invest $20 million in private debt
San Jose Federated City Employees Retirement System and Health Care Trust is set to make commitments of $20 million in private debt, as part of its fiscal year 2019-2020 pacing plan, according to documents seen by Creditflux  

BDC consolidation continues with Oak Hill and BC Partners-affiliate merger
The consolidation of US business development companies continues... this time, with the merger of OHA Investment Corporation and Portman Ridge Finance Corporation

Pennsylvania SERS appoints acting CIO
The $29 billion Pennsylvania State Employees’ Retirement System (SERS) has appointed deputy chief investment officer James Nolan as acting chief investment officer, effective from this weekend

Hamilton Lane holds $760 million final close for private credit fund
Hamilton Lane has held a $760 million final close for its latest global private credit fund, collecting slightly less capital than the manager’s predecessor fund. 

UK pension pool to launch maiden private credit offering
Border to Coast Pensions Partnership is launching its first private credit offering in early Q4, Creditflux has learned

Arizona pension invests in shipping fund as it steps up private credit allocations
Arizona Public Safety Personnel Retirement System (PSPRS) has approved commitments to Northern Shipping Fund IV, according to transaction documents seen by Creditflux.  

Twin Brook closes latest direct lending fund at $2.75 billion
The fund will have $5 billion of buying power 

South Carolina pension backs tech-focused BDC
South Carolina Retirement System Investment Commission (RSIC) has committed $100 million to Owl Rock Technology Finance Corporation, according to documents seen by Creditflux  

It's a question of timing: US direct lending allocations hit a bump in the road
Recent disclosures from public pension funds point to a pull-back in private credit allocations

Private debt should alleviate the next downturn, says Paul Hastings
Private debt should soften the next downturn and not exacerbate it, according to a note published by law firm Paul Hastings

Louisiana pension retains Hamilton Lane and plans private debt commitments
The $20 billion Teachers' Retirement System of Louisiana (TRSL) board has voted to retain Hamilton Lane as its private markets manager to oversee its private debt and private equity portfolios. 

Los Angeles pension fund narrows down global direct lending search to four managers
Los Angeles City Employees Retirement System (Lacers) has listed the finalists for a private credit mandate, according to an agenda document seen by Creditflux.  

San Mateo pension backs BlackRock direct lending fund
San Mateo County Employees' Retirement Association is set to make a commitment of $35 million to BlackRock Direct Lending Fund IX, according to an agenda item document seen by Creditflux.

Texas pension backs mine finance fund
Texas Municipal Retirement System (TMRS) is set to commit up to $150 million to Orion Mine Finance Fund III, consisting of a $100 million commitment to the fund and $50 million for co-investment  

FS and KKR create $9 billion publicly-listed BDC with four-way merger
The move would create the second largest BDC by assets under management

Minnesota State to earmark $100 million for private credit
Minnesota State Board of Investment is considering a $100 million commitment to LBC Credit Partners V, according to a quarterly updates document seen by Creditflux  

Prospect's $500 million CLO fund merges with Stira Alcentra global credit fund
Prospect Capital Management’s $500 million closed-end CLO fund has officially merged with a global credit fund managed by Alcentra and Stira

Morgan Stanley grows direct lending arm in New York with two hires
The bank has added a second hire to its private debt team having appointed an ex-Carlyle official to a newly created role as head of direct lending 

California pension approves $20 million for open-ended private debt fund
The commitment comes two months after Santa Barbara County Employees’ Retirement System mandated $25 million to a THL Credit 

The Last Tranche: awards season is upon us [podcast]
A look at 2018 award offerings and finalist, plus some insight on direct lending and b-wics

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