UK pension partnership launches maiden private credit offering at £581 million
Border to Coast Pensions Partnership (BCPP) is set to commit £581 million in private credit, as part of its maiden offering in this asset class  

45% of insurers look to increase private debt allocations, finds Natixis IM survey
Private debt allocations are expected to grow for 45% of insurers over the next three years, according to a recent survey by Natixis Investment Management. But regulation and internal restrictions are the biggest challenges to greater adoption of private markets allocation

Azimut hires ex-Dyal official as it aims to buy minority equity in asset managers
Azimut will initially focus on acquiring minority stakes in alternative asset managers with under $3 billion AUM – including private credit, private equity, infrastructure and real estate firms

Canadian pension awards €300 million to middle market real estate debt
Canada Pension Plan Investment Board (CPPIB) has awarded €300 million to a separately managed account focused on real estate across Spain and Portugal. The pension fund did not name who this partnership was with 

Allianz GI names CEO and head of investments as Utermann steps down
Allianz Global Investors has named Tobias Pross as chief executive officer and Deborah Zurkow as global head of investments, following the resignation of Andreas Utermann

UK pension hires BNP Paribas AM for starring role in core-satellite private credit fund
UK pension fund Nest has appointed BNP Paribas Asset Management to run the core of a private credit fund, sources say, in an arrangement which sees Amundi and BlackRock manage certain satellite investments  

Ucits at a glance
A round-up of ucits fund performance

Investor requirements rather than performance is driving ESG push: Creditflux survey
Only 14% of respondents to Creditflux's global credit ESG survey said performance was the main reason they were adopting envoronmental, social and governance-themed strategies

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

US pensions funds allocate to Lone Star and Raven credit strategies
Two US-based pension schemes have invested in funds with exposure to credit, highlighting the appetite of institutional investors towards off-the-run asset classes.

Illinois pension backs real estate funds
Illinois Municipal Retirement Fund has earmarked $150 million for commitments to Rockwood Capital Real Estate Partners XI and Blackstone Real Estate Debt Strategies IV.  

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

BlackRock names global alternatives head amid senior leadership shake-up
BlackRock has reshuffled its leadership and made several senior changes across various parts of its business, according to an internal memo seen by Creditflux

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  

Los Angeles pension backs Lone Star fund
Los Angeles Fire and Police Pension System has approved a commitment of up to $40 million to Lone Star Fund XI, according to a monthly report  

LaSalle expands into US real estate debt with Latitude acquisition
LaSalle Investment Management has bought a majority stake in the $1.2 billion debt business of Latitude Management Real Estate Investors

New Mexico allocates $175 million to credit
New Mexico State Investment Council has awarded a $75 million commitment to real estate debt and $100 million commitment to a multi-credit fund

BlackRock becomes latest manager to explore interval fund structure for credit
Several managers have hit the market with the interval fund structure, as investors look to invest in illiquid strategies through an illiquid fund structure

Louisiana pension fund assigns $200 million to DoubleLine and GoldenTree
Louisiana State Employees' Retirement System has allocated to distressed debt and mortgage credit funds run by two experienced asset managers

Institutional investors are too constrained in their private debt approach, research suggests
Institutional investors are too constrained in their approach and are focusing too much on mid-market corporate direct lending, research from global advisory firm Willis Towers Watson suggests

Credit drives strong returns for five of the largest asset managers in the business
Carlyle is close to hitting its ambitious fundraising target; direct lending has been kind to Ares; and Och-Ziff has decided to shed its US CLO risk retention stakes after exiting its financing agreements

BlackRock seeks $1 billion for new multi-strat opportunities fund
The new trust will invest at least 80% of its assets in fixed income securities and up to 40% in special situations, SEC filings reveal 

Real estate debt takes off as funds raise billions
Octopus's Ludo Mackenzie on why real estate debt is attractive: “In absolute terms, property yields are close to where they were in 2007, which would imply that the asset class is fully priced. In relative terms, however, compare commercial property yields to the risk-free rate and there is a healthy margin of around 3.5%.”  

Ostrum and Natixis unite to launch real asset private debt platform
The new real asset private debt arm will target €6 billion AUM by 2020 and focus on three sectors: real estate, infrastructure and aviation