CalPERS rolls out ESG due diligence for private debt investments
The California pension giant also has an investment mandate specific to battling climate change.  

CPP Investments backs Varde’s subline strategy launch
The Canadian pension giant provided USD 300m of strategic equity toward the new fund finance platform

BlackRock pushes private markets for revenue diversification
The world’s largest asset manager is planning to launch three new private credit products for the wealth channel, in addition to its purchase of private credit shop HPS

Some LPs wary of retail capital in private market products— Edelman Smithfield
A new survey from the global financial communications advisory firm shows more than a fourth of LPs want private funds managers to keep their capital separate from retail investors

Private credit titans lean on public rivals in bid to enter retirement product race
Private credit titans such as Apollo and Blackstone are teaming up with their long-time rivals, asset management giants, in a race to package a mix of public and private credit assets into retirement products

BNP Paribas partners with Scottish Widows, bringing private credit to retirement channel
BNP Paribas Asset Management will manage a diversified private credit portfolio for Scottish Widows’ new UK retirement product

Scottish Widows plans private markets push through LTAF launch
EXCLUSIVE: the pension fund plans to invest in both private credit and private eqity with separate managers for each  

Goldman's private credit venture with Saudia Arabia's PIF shows Middle East growth
ANALYSIS: The last few years has seen private credit managers court large Middle Eastern LPs or seek to start investing in the region

Expanding investor base and ABL will propel private credit growth says BlackRock
The private credit asset class will continue to grow in 2025 as the underlying investor base diversifies and the definition of private credit expands to include asset-backed finance held by private lenders

BlackRock launches first evergreen private markets fund for Europe’s wealthy
BlackRock has announced the launch of an innovative evergreen private markets platform for wealthy investors in Europe

HPS deal is expensive but catapults BlackRock into private credit top five
BlackRock is poised to become one of the largest private credit managers in the world after agreeing to buy private credit manager HPS Investment Partners at a rich 30x multiple

Trump victory raises hopes for high yield markets, M&A revival
Leverage finance markets cheered Donald Trump’s win on the prospect the former president’s return to the White House will unleash deregulation and M&A, lower taxes and higher economy growth

Loan repricings continue to flood the primary market ahead of August lull
The US primary loan market has seen a steady flow of well-bid deals this week that were either upsized or priced tighter

Double digit returns tempt Middle Eastern investors to allocate to private credit
Investors in the Middle East are allocating billions to private credit. The trend is just getting started, with investments in the region expected to grow.

New Mountain Capital BDC raises nearly USD 860m
New York-based alternative asset manager New Mountain Capital has held close of its New Mountain Guardian IV BDC 

Primary loan and bond markets shows signs of revival, but at a cost
Activity in the US junk debt market has picked up after the 4th of July and the momentum is expected to continue through 2H23, but at a cost for issuers.

Widening spreads settling into renewables debt pricing
Pricing for infrastructure and renewables financing has increased across the board, according to sister publication Infralogic

CLO managers to jump into action as Covanta loan proposal omits spread adjustment
Covanta Holdings is the latest example of a US loan issuer looking to switch benchmark from Libor to Sofr, but without an accompanying credit spread adjustment

Russia CDS auction deliverables list takes shape after sanctions licence
Russian Federation bonds cleared by Euroclear may be the only deliverable obligations to settle sovereign CDS contracts referencing the country, the Emea Determinations Committee has said, although it is also considering Clearstream listed bonds as it moves forward with preparations for a credit event auction

Seeds sewn for carbon credit market to flower into CLOs
Long-time structured credit specialist Jan Phillip Wassenaar has joined start-up NatureCredits as a senior advisor to support the evolving carbon credit industry

17Capital raises '‘largest debut private credit fund' since 2009
17Capital has closed what it claims is the ‘largest debut private credit fund raised globally since 2009’ as its inaugural NAV lending private credit fund hit its €2.6 billion hard cap. The fund's carried interest is also tied to a charity pledge

Russia debt repudiation / moratorium question lands with Determinations Committee
The Russian Federation looks to be edging closer towards triggering a credit event, having been referred to the Credit Derivatives Determinations Committee for a 'potential repudiation / moratorium' on its bonds

Axa IM extends palm oil policy to cover ecosystem protection and deforestation
Axa Investment Managers says it is expanding its 2014 policy of excluding investments in companies which do not have sustainable palm oil production certificates by factoring in deforestation and ecosystem protection

Nordic boutique launches debut green corporate bond fund
Nordic boutique Evli Fund Management has launched an inaugural fund focusing on green corporate bonds, which the Helsinki-headquartered manager says is in response to growing investor demand for allocation to green bonds

US pension to cut long-term private markets pacing plan by 10%
The Educational Employees' Supplemental Retirement System of Fairfax County is considering reducing its 10-year private markets pacing plan commitments by around 10%, according to board documentation seen by Creditflux