US pension fund makes fresh USD 250m allocation to private credit
A US pension system has recently disclosed hundreds of millions of commitments to alternative funds, including USD 250m for private credit

AXA wins USD 400m for SRT strategy from US pension fund
The growing global demand for SRT transactions was confirmed yesterday with an announcement from AXA IM Alts that it had been awarded a USD 400m investment mandate from a US pension fund

New Mexico pension system approves USD 150m top-up to distressed debt fund
The New Mexico State Investment Council continued to pump money into credit alternatives on Tuesday, as the board approved its latest commitment

MGG raises more than USD 400m in first close of lower middle market fund
MGG Investment Group has filed the first close on its MGG Structured Solutions Fund II, offering capital solutions to non-sponsor backed companies

Cheyne returns to SRT market with eye-catching hire
Cheyne Capital has re-entered the significant/synthetic risk transfer (SRT) market, bringing on an industry veteran to act as portfolio manager

Baltimore pension system puts USD 35m into private credit fund
The City of Baltimore's Fire & Police Employees' Retirement System recently allocated USD 35m to a private credit fund

Private credit firms chase opportunities in asset based lending as US banks withdraw
Lending against assets is becoming the fastest growing part of private credit. The market is expected to grow from roughly USD 787bn in 2024 to more than USD 1.26trn in 2028, according to a report by Research and Markets, a data and statistics firm.

US loan volume nears record levels
In Q1 2024 quarterly institutional loan issuance reached its second highest level on record. The period also saw the lowest quarterly share of new money issuance, at just 13% of total activity

Fund performance
In February, CLO funds once again claimed the majority of top positions in our fund ranking — this time taking eight of the top 10 spots (see table below).

Allianz gears up to launch European credit impact investing fund
Allianz Global Investors filed regulatory documents in Luxembourg this week for a new impact investing fund, the latest in a string of similar strategies

Schroders Capital adds two senior members to private debt and credit alternatives platform
Schroders has made two senior-level hires following last fall's consolidation of its debt and alternative credit strategies onto a single platform

Texas pension system commits USD 100m to direct lending
The Texas County & District Retirement System recently allocated USD 100m to a direct lending fund at its 1 April meeting

San Francisco pension system continues to invest in private credit
The board of the San Francisco City & County Employees' Retirement System has allocated USD 75m to a credit special situations fund  

DWS head of direct lending departs
Marcus Herbig, head of direct lending at DWS, has left the firm, according to people familiar with the matter

Louisiana pension system allocates to private credit
The Louisiana Teachers’ Retirement System has recently made a fresh round of commitments to alternative funds, including to private credit.

Chicago pension system allocates USD 40m to private credit
The Policemen's Annuity and Benefit Fund of Chicago approved two commitments to private credit totaling USD 40m at its 24 January meeting

Ares launches third vintage of senior direct lending fund
Ares Management recently filed regulatory documents with the US Securities and Exchange Commission for the Ares Sr Direct Lending III Access Parallel

Funds round up: private credit reaches for retail
A number of new credit funds launched last month to round out 2024's first quarter, including ones in Europe aimed at retail investors

Akin hires Paul Hastings lawyer for private credit practice
Akin Gump Strauss Hauer & Feld continues to expand its special situations and private credit practice with the hire of a new partner in the group

Barings shrugs off team liftout with new private credit deal
Barings is putting up a fight in the private credit market despite the dramatic loss of 20 members, acting as lead agent on a new private credit deal

Global Loan Highlights 1Q24: Don’t call it a comeback
Loan refinancing share hits historic high, but IG issuance stymies YoY global growth

New Mexico sovereign wealth fund pumps an additional USD 450m into private credit
The New Mexico State Investment Council latest commitments to private credit total up to USD 450m, spread across three managers

February 2024 US Leveraged Highlights
Debtwire today releases the February 2024 US Leveraged Highlights, featuring key trends in the leveraged loan and high-yield bond markets.

Blackstone partners with Finland's S-Bank for European private credit fund
Blackstone has partnered with Finnish S-Bank, making it possible for individual investors in Finland to tap into the European private credit market

Monroe Capital expands in Middle East with new hire and Abu Dhabi office
Monroe Capital has hired Waleed Noor as managing director and head of Middle East distribution, as private credit funds continue to target LPs in the region