Tikehau builds private debt secondary platform with senior hire
Tikehau Capital has bolstered its private debt capabilities with the launch of a new secondaries platform

US pension fund earmarks $1.3 billion for credit
Teachers’ Retirement System of the State of Illinois (TRS) is set to commit $1.3 billion to credit funds, as part of its global income portfolio.  

BlueBay launches CLO fund with seed capital from parent RBC
Sources say the strategy launched earlier this year via an Irish fund structure with seed capital provided by BlueBay’s parent company, RBC

New York teachers’ pension backs energy credit fund
New York State Teachers’ Retirement System has committed $200 million to a credit fund managed by Orion Energy Partners, according to documents seen by Creditflux  

Distressed loans get IHS Markit workover as tech service aims to cut settlement times
IHS Markit is unveiling an electronic solution through its ClearPar platform aimed at simplifying trade settlement for distressed leveraged loans, an area that has greatly lagged efficiency in the par loans market    

CLO supply set for double-digit drop in 2020, says JP Morgan
US CLO supply in 2020 will be as much as 20% down on 2019, while European issuance will fall 13% year-on-year, predict JP Morgan strategists in a research note. Even so, new CLOs should still outpace existing deal paydowns, as well as high yield primary market net new issuance

NEPC sees bias toward private markets despite lower return expectations
NEPC sees private markets in 2020 as a way for institutional investors to withstand volatility, said its director of asset allocation, Phillip Nelson, during a Q3 update yesterday

Highland LP’s bankruptcy could trigger power grab, as hunt for assets begins
Creditors to Highland Capital Management's limited partner subsidiary are calling for a change of management to handle the firm's emergence from bankruptcy protection

Diverging views emerge over performance of ESG investing, RBC survey reveals
Investors which incorporate ESG principles are convinced it adds value, but those who do not are more uncertain, according to a survey by RBC Global Asset Management 

Maine pension boosts alternative credit bucket with $50 million US special situations mandate
The $14.9 billion pension fund continues to be underweight its 5% target allocation to alternative credit 

ESG phenomenon leads to talk of incentive fee models
For asset managers that are diving into environmental social and governance (ESG) investment standards, an ugly truth is the lack of any standardised performance fees. But that could change as more investors begin picking and choosing allocations based on ESG rubrics.

Reality bites after credit traders abandon Brexit hedges
Rediscovered faith in the ability of the UK and European Union to reach an agreement before the 31 October Brexit deadline has helped fuel a surge tighter of credit spreads, led by UK financial names. But that break with caution faces an immediate reality check today, following admissions a lot more work is needed

US pension allocates to Golub in bid to boost 'non-core fixed income' bucket
The State of New Mexico Investment Council has awarded $100 million to a senior debt fund managed by Golub Capital Partners, as part of a plan to bolster its non-core fixed income bucket

BlueMountain starts new chapter as co-founder leaves and it winds down hedge fund
There are sweeping changes taking place at BlueMountain Capital Management, with the firm announcing that co-founder Stephen Siderow is leaving and that it is winding down its flagship hedge fund, BlueMountain Credit Alternatives Fund

Värde taps growing CRE CLO market for the third time
Värde Partners closed a $627 million CRE CLO last week via Goldman Sachs

California pension approves $10 million for Owl Rock first lien loan fund
A US pension fund has awarded $10 million to Owl Rock First Lien Fund, managed by middle market lender Owl Rock Capital Advisors

Bridge builds $1.5 billion US real estate debt fund
The fund has recieved a $25 million commitment from Ventura County Employees’ Retirement Association as part of its private credit pacing plan

Danish pensions join forces on green strategy
Danish Prime Minister Mette Frederiksen has announced that Danish pension funds are set to commit DKK350 billion in green investments, during an event prior to UN Climate Summit in New York  

Wells Fargo AM makes big credit hire to co-head its private strategies team
Wells Fargo Asset Management has appointed Vincent Lu to co-head the firm’s private strategies, according to an internal memo seen by Creditflux

THL updates credit investment framework to include ESG
THL Credit Advisors has announced that it has developed an investment framework for assessing environmental, social, and governance (ESG) factors in analysing credit quality and risk factors

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

Texas pension awards $150 million to first distressed debt commitment this year
Texas County & District Retirement System (TCDRS) has awarded $150 million to global distressed debt fund, Davidson Kempner Long-Term Distressed Opportunities Fund V

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