Houston Police Officers' Pension System commits nearly $38 million to credit fund
Houston Police Officers' Pension System approves nearly $38 million for credit fund

San Francisco retirement system sets aside $55 million for private credit
San Francisco Employees' Retirement System reserves hundreds of millions of dollars for alternative funds, including private credit

Kern County allocates $90 million for credit funds
Kern County commits up to $90 million to two private credit funds and a special opportunities fund 

Global investment firm closes fund with $3 billion in capital commitments

Global investment firm closes fund with $3 billion in capital commitments, focusing on opportunistic investing. 

Angelo Gordon raises more than $1 billion for credit fund
New York-based alternative investment firm closes asset-based credit fund with more than $1 billion. 

San Francisco Employees' Retirement System approves multi-million dollar private credit commitments
Retirement system approves several multi-million dollar private credit commitments. 

Major fund withdrawals undermine credit momentum
Credit funds are extending their run of inflows into the end of the year, but investment grade momentum took a dent last week due to investors in one big fund pulling their money

HIG adds capital raising clout with senior credit and PE hires
HIG Capital has added to its global credit and private equity businesses with three senior appointments

BlackRock launches impact bond fund
BlackRock has launched a fixed income fund focused on green, social, and sustainable bonds as well as ‘impact’ MBS and municipal investments

Franklin Templeton wraps up deal for $35bn Alcentra
Franklin Templeton has completed its acquisition of BNY Mellon’s $35 billion credit unit Alcentra

Investment manager launches to finance non-sponsored mid market
A new alternative manager launched Monday with a focus on debt and equity investments in non-sponsored, lower middle market businesses in North America

Sona rolls out event-driven and bespoke financing fund to US investors
Sona Asset Management is courting investors in the US for its second capital solutions strategy, having filed an offering of the fund with the Securities & Exchange Commission

Past form points to bleak picture for IG fund flows as new covid variant emerges: BofA
With a new covid-19 variant for investors to worry about, faltering high grade fund flows face additional headwinds versus high yield and government bonds

Tikehau places €500 million sustainable bond as it plans high yield impact fund
Tikehau Capital has placed an inaugural sustainable bond that it says is the first of its kind for an asset manager

10-day US CLO warehouses open up as managers split transactions
A report by Maples Group finds there have been several opportunistic US CLO warehouses that have launched since mid-June with durations as short as 10 days

Fed settles one third of small business loans in latest talf funding round
Of the $453.2 million small business loans requested in the 21 July subscription, only $152 million settled

Calpers plans $80 billion leverage play to boost returns
California Public Employees’ Retirement System has outlined plans to boost returns for its nearly $400 billion portfolio in the long term. But the proposal, dubbed ‘towards a 7% solution’, has come under criticism

75% of US CLO warehouses 'avoided crisis situations', finds Maples
Just a quarter of US CLO warehouses administered by Maples Group were required to take remedial action, or seek amendments, since the start of the coronavirus pandemic, according to a report by the firm

Non-bank lenders spot fund financing opportunities
Volatility arising from the coronavirus will give non-bank lenders an opportunity to gain market share from traditional lenders in the fund financing space, sources say

Asset managers pull all liquidity levers to satisfy borrowers
A paramount concern for many investors in direct lending funds is whether asset managers have enough liquidity to meet borrower requests for funding

They said it: "Start writing the story about banks making margin calls to buyers of CLOs using repo!"
A reader comments on our 25 March report “US fund managers put on leveraged CLO triple A trade with a view to 13% returns”, pointing out that banks were pulling loan TRS lines, but still had the appetite to support leveraged CLO trades.

Bank looks to unwind $632 million loan TRS
A US bank has looked to liquidate a total return swap vehicle by putting out a loan bwic, according to market sources, with the vehicle sized at $632 million

Fed accepts triple A-rated CLOs in new 'primary dealer credit facility'
The US Federal Reserve Board will establish a primary dealer credit facility on Friday (20 March) to help defend against the impact of coronavirus-led market volatility

Saratoga picks up its second SBIC license
Saratoga Investment Corp has received approval for another Small Business Investment Company (SBIC) license

BlueMountain buyout to bring CLO equity shift, funding pledge and Feldstein payout
BlueMountain Capital Management’s co-founder Andrew Feldstein looks set to receive a substantial pay-out in common shares of Assured Guaranty, which has agreed to buy the manager for around $160 million and has outlined a three-year plan for its CLOs