San Francisco pension assigns $75 million to evergreen private credit fund
A New York-based direct lender has won a $75 million mandate from San Francisco Employees' Retirement System, who are looking to deploy  $4.5 billion and partner with up to 25 private debt managers over the next six years

BlackRock BDC seeks shareholder approval to fast-track leverage increase
BlackRock TCP Capital Corp has become the latest business development company to seek shareholders’ approval to double its use of leverage

New York pension fund allocates €250 million to European credit manager
A $207.4 billion pension fund has awarded the mandate to a multi-strategy credit fund managed by EQT Partners 

First Eagle lands $100 million for first direct lending fund since NewStar purchase
The New York-based manager has raised $100 million for the new vehicle, following the sale of NewStar’s $2.4 billion loan portfolio to Blackstone’s credit arm GSO Capital Partners

Minnesota pension slates $200 million to private credit after strong returns over Q3 2018
Minnesota State Board of Investments has awarded a $200 million commitment to two private credit managers

Ares starts 2019 with a bang, closing US senior direct lending fund at $5 billion
Ares Capital Management has held a final close for its US senior direct lending fund with $5 billion total capital available

BC Partners buys into KCAP business development company
BC Partners has agreed to take over management of business development company KCAP Financial from KCAP Financial Advisors

Crestline holds $800 million final close for US direct lending fund
The fund is thought to target an 11-13% net internal rate of return, employing up to 1.5x leverage

Direct lender Twin Brook hires managing director in Chicago
The middle-market direct lender has expanded its team with the hire of a managing director

Carlyle closes private business development company at $1.9 billion
Carlyle Group has closed its second business development company, TCG BDC II, raising a total of $1.9 billion

Texas pension awards $500 million to European direct lending managed account
This is the largest investment to credit that the $30 billion pension fund has made

Golub Capital BDC looks to become fourth largest publicy traded BDC with merger
Golub Capital is seeking approval from its shareholders to merge its Golub Capital business development company (GBDC)  with another one of its business development companies, Golub Capital Investment Corporation (GCIC)

Neiman Marcus loan slumps amid debt restructuring talks
The luxury fashion retailer’s $2.95 billion cov-lite term loan B, due October 2020, traded down 1.65%, according to IHS Markit 

Crescent lands in US direct lending for second time with $1.6 billion fund
Crescent Capital exceeded its $1 billion target size, hitting $1.6 billion for its second US direct lending fund

Varagon boosts healthcare expansion with New York hire
The middle market lender continues its efforts in the sector, following the opening of a new healthcare-focused Chicago office

Owl Rock rakes in $1.53 billion for tech-focused BDC
Owl Rock Capital is spreading its fundraising wings, with the New York-based manager raising at least $1.53 billion for its technology-focused business development company

Monroe launches $1.33 billion US direct lending fund
With leverage, Monroe Capital will have more than $2.5 billion of capital available for investments

Recent CLO debutant Vista brings in GSO official to lead credit team
Vista Credit Partners has hired a former GSO official to lead its credit team

Missouri pension plan seeks alternatives consultant
The $8.2 billion Missouri State Employees’ Retirement System (MOSERS) is seeking an alternative investment consultants

Crestline holds $600 million final close for PE-focused financing fund
The new fund will provide financing to private equity funds post their investment period, allowing them to provide follow-on growth capital to portfolio companies or additional liquidity 

Tikehau’s private debt AUM hits €7.5 billion
Tikehau Capital, the Paris-based asset management and investment firm, has reached €7.5 billion in private debt assets under management (AUM) as of September 2018. This represents an increase of 17% for the third quarter, amounting to €1.1 billion  

Managers see growth in distressed and direct lending, but structured credit splits opinion
The private credit industry remains on track to grow to $1 trillion assets under management by 2020, according to joint research published by the Alterative Credit Council and law firm Dechert with allocations to distressed and mid-market deals tipped to rise. But structured credit has divided US and European managers

Ares ups its target for US senior direct lending growth to $4.7 billion
Following $5 billion of inflows into global direct lending in the third quarter, Ares has upped the target for its US direct lending strategy 

US pension commits $100 million to Apollo's hybrid private credit/private equity fund
Pennsylvania State Employees’ Retirement System has mandated $100 million to a multi-strategy fund managed by New York-based Apollo Global Management

Blackstone grows credit assets by 31% over year
The firm achieved strong fundraising in credit, taking credit-related assets under managment to $130.6 billion in the third quarter, a 31% increase year-on-year