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  

San Mateo pension backs BlackRock direct lending fund
San Mateo County Employees' Retirement Association is set to make a commitment of $35 million to BlackRock Direct Lending Fund IX, according to an agenda item document seen by Creditflux.

New kids on the block dominate awards

Spire wins Creditflux Manager of the Year award
Spire Partners was the big winner at Creditflux's Manager Awards last night as the London-based manager scooped the award for the manager of the year. On top of this, the firm picked up awards for Best European CLO Manager and Best European CLO for Aurium CLO II

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

New York pension ups commitment to HarbourVest by $400 million
New York State Teachers' Retirement System has topped up commitments to Maple Fund, having already approved $600 million in 2017

Majority of investors seek to increase private credit allocations, BlackRock survey reveals
Over half of investors plan to increase their allocation to private credit in 2019, according to an institutional client rebalancing report published by BlackRock

BlackRock BDC seeks shareholder approval to fast-track leverage increase
BlackRock TCP Capital Corp has become the latest business development company to seek shareholders’ approval to double its use of leverage

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

Private credit specialist rejoins Ares in Los Angeles
Ares Capital Management has appointed managing director Michael Zugay to its private credit team in Los Angeles 

Benefit Street Partners taps Monroe and BlackRock for private debt origination hires
Benefit Street Partners has made two senior appointments to its private debt origination team

BlackRock completes Tennenbaum acquisition
Global asset manager BlackRock has completed the previously announced acquisition of Tenenbaum Capital Partners

BlackRock holds €1.1 billion final close for inaugural mid market fund
BlackRock has held a €1.1 billion close for its inaugural middle market private debt fund – exceeding its initial €750 million target.

BlackRock expands US private debt capabilities with TCP acquisition
BlackRock has agreed to acquire $9 billion asset manager Tennenbaum Capital Partners

BlackRock raising $2.5 billion for direct lending fund: report
BlackRock is seeking to raise $2.5 billion for a private credit fund – and has already hit the $1.5 billion mark in sales, according to a Bloomberg report

Ohio pension backs BlackRock multi-asset and BlueBay direct lending funds
BlackRock and BlueBay have each won commitments from a $14.7 billion Ohio pension fund

BlackRock raises UK fund with large private credit allocation
BlackRock has announced the first close of an alternatives fund with a large allocation to private credit

Senior debt funds are mis-pricing euro mid-market loans, conference hears
An influx of capital into senior debt funds is leading to mispricing in Europe’s mid-market, delegates at the Debtwire European Mid Market Forum heard yesterday

Muzinich hires from BlackRock to bolster its direct lending team
Muzinich has made another hire to its offices in Frankfurt with the firm announcing that Markus Taubert will be joining from BlackRock in July

BlackRock hires in Germany as direct lenders build their networks
BlackRock has taken another big step forward in its efforts to ramp up a European direct lending business