Liquidity and disclosure issues threaten potential CRE CLO market
Most investors that participate in the commercial real estate CLO market want to increase their exposure. But the lack of liquidity and standardised disclosure is holding them back.

Credit funds at a glance

A round-up of fundraising and people moves in credit

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

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 

Texas pension fund creates new credit bucket
The Employees Retirement System of Texas (ERS) has approved a 3% opportunistic credit allocation, according to documents from an investment advisory committee meeting in March seen by Creditflux  

BlackRock to merge infra and real estate platforms as key figure departs
BlackRock is restructuring its infastructure and real estate platforms into a real assets division, sources say

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 

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

Hyundai allocates $250 million to US real estate debt
Hyundai Investments has mandated $250 million to a real estate debt fund co-managed by Related Cos and HPS Investment Partners

Maverick draws in $200 million for distressed real estate debt fund
Maverick Real Estate Partners has held a final close for its fifth real estate distressed debt fund, hitting its $200 million hard cap

Loomis Sayles plans alternatives interval fund
Loomis Sayles is looking to launch an interval fund focused on alternative asset-based opportunities, according to 4 December US regulatory filings

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  

San Francisco pension ramps up private credit portfolio with $80 million commitments
The $24.5 billion pension fund currently has a 2.2% actual allocation to private credit, despite a 10% target allocation

Axa IM buys US commercial mortgage business from Quadrant
Axa Investment Managers' real assets group has bought one of Quadrant Real Estate Advisors’ US focused lines of business, including a dedicated investment team, in a bid to expand its global debt platform.  

Ellington partners with Trium for new credit Ucits offering
Ellington has joined the alternative Ucits party, partnering with London-based Trium Capital for Ellington Trium Alternative Credit Ucits, a long/short credit Ucits fund.

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

TIG buys strategic minority interest in alternative credit manager
The New York-based manager plans to further expand and diversify into new investments by buying interests in other strategies.

Apollo draws in $2.36 billion for structured credit fund
Apollo Global Management is edging towards a final close for its fourth structured credit fund

Axonic unveils plans for credit interval fund
New York-based Axonic Capital has registered its income producing offering Axonic Alternative Income Fund with US regulators

August: fund performance
CLO spreads jumped wider in August, but funds that invest in these assets have been able to outperform

September: credit funds at a glance
White Oak Global Advisors held a $2.1 billion final close on a new direct lending fund, while Phil Raciti's move from CVC Credit Partners to Halcyon Capital Management was one of the biggest moves in the credit industry

CRE CLOs poised to grow by as much as 40%
The CRE CLO market will grow in 2019 over 2018 as cross-over CLO investors get more comfortable with the simpler, shorter duration structure, said speakers at IMN’s ABS East conference in Miami

HIG appoints US head of real estate debt origination
HIG Realty Partners has bolstered its team with the appointment of Michael Mestel as managing director and head of US real estate debt originations