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

GSO official to join distressed debt manager Kennedy Lewis
The head of capital markets at GSO Capital Partners, who serves as a portfolio manager, will join distressed debt firm Kennedy Lewis Investment Management as a partner in 2020

Minnesota pension to invest $300 million in distressed and private credit funds
Minnesota State Board of Investments is set to invest $100 million in a mezzanine debt fund and $200 million in a distressed debt fund

Arizona pension to deploy up to $700 million a year in private credit
Arizona Public Safety Employee System is looking to deploy $600-700 million in private credit strategies per year in order to meet its target allocation, according to board documents seen by Creditflux.

Imperial hires in credit sales
Imperial Capital has added a senior vice president in its high yield and distressed credit sales group

Decalia adds ex-Morgan Stanley official to senior private credit role
Geneva-based Decalia Asset Management has appointed a lead portfolio manager for its private market funds

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

Monroe adds four to its opportunistic private credit team
Monroe Capital has expanded its opportunistic private credit team with four hires: Darrick Ginkel, Chris Spanel, Jason Starr and Joseph Valickus

Imperial appoints head of structured credit and special situations
Imperial Capital has appointed Mark Green as head of special situations and structured credit, according to an announcement by the firm

Creditors left with sour taste as two food companies file for bankruptcy
Credit investors have been left to digest two US food company bankruptcy filings this week, with dairy producer Dean Foods triggering the first credit event to hit on-the-run series 33 of the CDX HY index, while Houlihan's Restaurants has also sought protection

Atalaya closes seventh special opportunities fund at $950 million
Atalaya Capital has held a final close on its seventh special opportunities fund, having called about 28% of capital and has made 15 investments

BTIG founds European fixed income credit division and adds four traders
The London-based division will be led by Michael Carley, who BTIG hired last year as a fixed income managing director in New York

Carlyle hires to New York credit opportunities team
Carlyle has appointed a former Guggenheim official to its credit opportunities team in New York

"Ultra-fast" pre-pack bankruptcy will flourish in private credit, says Proskauer
Prepackaged and pre-negotiated bankruptcy strategies will emerge as strong contenders for Chapter 11 cases involving private credit deals in the next restructuring cycle, according to a note published by law firm Proskauer

US pension seeks private debt manager
The Massachusetts Water Resource Authority Employees’ Retirement System has launched a request for proposals searching for an investment firm to manage a private debt and private equity mandate

Thomas Cook CDS settles with higher than expected recovery
CDS referencing Thomas Cook Group settled with a final price of 10.125 cents at yesterday's credit event auction, making the high pay-outs to protection buyers still less profitable for them than had been expected

Thomas Cook CDS auction sets initial midpoint at nine cents
An auction to settle CDS referencing Thomas Cook Group has derived an initial market midpoint of 9.125 cents, implying protection buyers will receive a pay-out on contracts in the region of 89 cents

Distressed loans get IHS Markit workover as tech service aims to cut settlement times
IHS Markit is unveiling an electronic solution through its ClearPar platform aimed at simplifying trade settlement for distressed leveraged loans, an area that has greatly lagged efficiency in the par loans market    

Crestline targets $1.75 billion for 'all weather' fund but investor questions fund size
Crestline Investors is seeking $1.5 billion capital ($1.75 billion hard cap) for its next 'all weather' global special situations fund, Crestline Opportunity Fund IV, with the Fort Worth-based firm looking to hold a final close in October 2019. But one institutional investor has raised concerns about the size of Crestline's latest fundraise.

JP Morgan AM closes first special situations fund
JP Morgan Asset Management has held a final closing for its first special situations fund, with more than 50% of investors backing the fund to be first-time investors in a JP Morgan Alternatives fund

Crestline bags $360 million for inaugural European opportunities fund
Crestline Investors has held a final close on its inaugural European special situations fund, Crestline Opportunity Fund III Europe, at $360 million, surpassing its original $300 million target size

Highland LP’s bankruptcy could trigger power grab, as hunt for assets begins
Creditors to Highland Capital Management's limited partner subsidiary are calling for a change of management to handle the firm's emergence from bankruptcy protection

Thomas Cook CDS buyers face bond squeeze as DC ejects 2023 notes from auction
The likelihood of a squeeze on Thomas Cook Group obligations has increased for market participants looking to physically settle their CDS contracts, after the Determinations Committee ruled that the collapsed UK travel firm’s €400 million 3.875% senior notes due 2023 were inadmissible into a credit event auction

Maine pension boosts alternative credit bucket with $50 million US special situations mandate
The $14.9 billion pension fund continues to be underweight its 5% target allocation to alternative credit 

Thomas Cook CDS auction set for two deliverables
Market participants have until 5pm London time (12pm New York) on Thursday to challenge the supplemental list for an auction to settle CDS referencing Thomas Cook Group, which so far looks like it will have two deliverable obligations