Real assets are now the top picks in private credit
Direct lending is no longer the darling of the private credit market, with pension funds increasingly making space for credit strategies backed by real assets.

KKR closes $1.3 billion global impact fund
KKR has made a final close of its KKR Global Impact Fund SCSp at $1.3 billion  

Investors preferred real asset debt to corporate private debt in 2019, finds Bfinance
Bfinance stated that, in dollar terms, real asset debt searches conducted by investors outweighed corporate private debt searches in 2019

Texas pension backs ICG credit fund
Texas County & District Retirement System (TCDRS) committed $167 million to a fund managed by Intermediate Capital Group in January, according to documents seen by Creditflux.  

Private debt takes centre stage as Arizona looks to bolster credit allocation to 25%
Arizona State Retirement System remains bullish on credit with the $41.9 billion institution looking to bolster its entire credit allocations to almost a quarter of the fund - and private debt will take centre stage in the Arizona pension’s growth plans

Italian journalists set for greater exposure to infrastructure debt
The pension fund for Italian journalists has launched a request for proposals in which it seeks exposure to infrastructure debt, along with infrastructure equity

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.  

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

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

Aviva expands ESG private debt capabilities
Asset manager Aviva Investors has appointed Ed Dixon to serve as head of head of environmental, social, and governance (ESG) within real assets, including private debt.  

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

UK transitions to post-Libor era with array of Sonia-linked deals
The UK’s structured finance market has moved to swiftly embrace the daily compounded benchmark Sonia (Sterling overnight index average) ahead of the 2021 phase out of Libor.

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.  

Sun Life merges asset management business to create $159 billion division
Sun Life will merge its fixed income businesses - including Prime Advisors, Ryan Labs and Sun Life Institutional Investors - under a new umbrella named SLC Management 

US pension looks to terminate managers within liquid credit portfolio
San Francisco Employees’ Retirement System is considering terminating Prima Capital Advisors' commercial real estate debt strategy and AFL-CIO Housing Investment Trust  

Louisiana pension allocates $150 million to US credit funds
The Teachers' Retirement System of Louisiana has committed to Torchlight Debt Opportunity Fund VI and Summit Partners Credit III, a spokesperson for the pension fund has confirmed  

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

Church Pension Fund anoints infrastructure debt fund with $40 million
The $13.3 billion pension fund has invested in a fund managed by New Energy Capital

Fiera buys private credit and real estate specialist in $74 million deal
The transaction will add $3.1 billion of assets under management to Fiera Capital Corporation 

CapitaLand gains $556 million for China real estate debt fund
The Singapore-based firm announced that the fund will target a $750 million final close 

US pension seek real estate debt managers
The State Universities Retirement System (SURS) has launched a real assets investment search, seeking private core, private core plus, and private non-core real estate managers, on both debt and equity  

Apollo's credit funds report gains in 2018 despite Q4 slump
Apollo saw $21.6 billion inflows throughout the quarter leading to a record total assets under management of $280.3 billion. The firm, however, reported a net loss throughout the quarter 

UBS hits €1 billion final close for second infrastructure debt fund
UBS Asset Management has reached a final close on its second European infrastructure debt fund, Archmore Infrastructure Debt Platform II (IDP II) at €1 billion

New Energy increase target size for infrastructure credit fund
New Energy Capital has increased its infrastructure credit fund’s target size by $100 million following strong capital fundraising, US regulatory filings reveal

Strathclyde pension looks to allocate up to £1.1 billion into credit
Glasgow City Council, the administering authority for the Strathclyde Pension Fund, has launched request for proposals (RFP) seeking to appoint investment managers specialising in private corporate debt and real estate debt.