New US CLO issuance maintains consistent pace with prints from Antares, Northwestern and TPG
The three managers collectively priced USD 1.3bn of paper over Friday and Monday, with Antares' Orion CLO 2026-8 issuing the tightest triple A notes of the trio at SOFR plus 120bps

CIFC, TPG Credit print European CLO resets
CIFC paired with Goldman Sachs to issue a reworking of its first European CLO that originally priced in 2019, while TPG's repricing of its 2022-vintage Northwoods Capital 26 Euro was arranged through Citi

Texas, San Francisco among systems disclosing tactical, specialty credit investments
TCDRS commits USD 400m to Silver Point, Gallatin Point funds; Ohio pensions commit to GoldenTree, TPG funds

TPG Credit raises USD 5bn for core, upper mid-market direct lending deals
EXCLUSIVE: The alternative credit arm of TPG has launched a new direct lending strategy and raised third-party capital from institutional investors and insurance companies, sources familiar told Creditflux

CalPERS expands Goldman Sachs credit commitments, South Carolina picks Barings fund
CalPERS commits another USD 750m to West Street credit vehicles; South Carolina RSIC allocates USD 250m to a Barings fund

Texas, Massachusetts systems reveal real estate debt, direct lending investments
Texas ERS, TCDRS disclose commitments worth USD 875m; MassPRIM invests in KKR's opportunistic real estate debt fund

Michigan, New Mexico make large bets on asset-based credit strategies
Michigan SIB commits USD 800m to Apollo, LGT credit funds; New Mexico SIC allocates USD 400m for Ares, Pemberton funds

News in brief
Top stories on creditflux.com: firms are planning launches and issuance despite slump

TPG to raise new capital for CLO platform
The alternatives firm also launched a new middle market direct lending strategy that targets larger borrowers than the existing Twin Brook franchise

LACERS stalls private credit consultant renewal, Connecticut system issues RFP
The Texas County & District Retirement System invests another USD 60m in Alcentra's Structured Credit Opportunities Fund V, while LACERS delays private credit consultant renewal over fees

TPG to launch upper middle market direct lending business
EXCLUSIVE: The alternative investment firm historically offered lower middle market and middle market direct lending exposure via its TPG Twin Brook platform

TPG, Jackson Financial strike partnership focused on private credit
TPG will take a minority stake in Jackson and start by managing at least USD 12bn of the insurer’s assets

South Carolina, Texas among systems disclosing recent credit allocations
Ares Pathfinder Fund III to launch in 1Q26 with USD 5bn target, while South Carolina system allocates USD 550m to two managers and Illinois and Montana systems commit USD 150m across various funds

TPG Credit raises USD 6.2bn for all-weather, special sits strategy
The latest fund exceeded the USD 4.5bn target by nearly 40%, the company said

Oklahoma system allocates USD 1.3bn as others set 2026 targets
OTRS commits USD 1.3bn to Blackstone, KKR private credit funds, while Los Angeles, New Hampshire, San Antonio pensions disclose recent moves

Florida, New Mexico systems commit hundreds of millions to direct lending
Florida commits USD 1bn to European direct lending; New Mexico allocates USD 450m at November meeting; Illinois, San Diego pensions also disclose recent commitments

Second new BSL prints of the year from PineBridge, TPG Angelo Gordon
Both managers issued their second new BSL CLOs for 2025 on Monday

South Carolina, Virginia among pensions revealing recent credit-focused investments
South Carolina Retirement System Investment Commission allocates over USD 900m to four managers; Virginia, Los Angeles pensions also disclose recent private credit investments, while East Bay Municipal Utility District and City of Jacksonville pensions seek to expand private credit exposure

A Texas pension discloses investment in CLO equity fund
Texas Municipal Retirement System commits USD 775m in Q2 2025, including investment in OHA's CLO equity fund

US refis issue from TPG Angelo Gordon, Invesco and Columbia
The three managers refinanced US CLOs at the close of last week, with the repriced paper totalling just over USD 1bn in value

Private credit secondaries poised for record year
Deals in the market are only getting larger and volumes are expected to surpass USD 18bn this year, a new Evercore report shows

CalPERS, LACERS among pensions disclosing recent private credit investments
CalPERS invests USD 1bn in climate-focused private credit fund by Goldman Sachs, while LACERS commits USD 170m to TPG Twin Brook, Sixth Street funds

Beach Point hires president and CIO, product and sales leader
The two new hires arrive after stints at TPG Angelo Gordon and Oak Hill Advisors, respectively

Alaska, Pennsylvania among pensions disclosing recent private credit investments
Alaska retirement system reveals over USD 400m in private credit investments and Pennsylvania and Texas pensions make new commitments to European private credit funds, while Maine PERS commits to another new TPG Twin Brook fund

Coller Capital backs Twin Brook in record USD 3bn private credit continuation vehicle
The continuation vehicle will acquire a diversified portfolio of sponsor-backed, senior direct loans from TPG Twin Brook’s 2016 and 2018 vintage funds