Clearlake casts $1 billion net for second opportunistic fund
The Santa Monica based firm has upped the target size for its opportunistic credit, distressed and structured equity fund  

Owl Creek turns heads to special situations with new fund
The firm joins several other distressed investors preparing to take advantage of a potential downturn

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

Maryland pension carves out private debt bucket
The Baltimore pension fund has also mandated a total of $25 million to one direct lending fund and one distressed debt fund 

Texas pension fund looks to top up credit portfolio
Texas County & District Retirement System (TCDRS) has decided to increase by 3% its target allocation to strategic credit  

Searchlight nears first close for $2.75 billion special situations fund
Searchlight Capital Partners is expecting to hold a first close for Searchlight Capital III April, according to documents seen by Creditflux

Shenkman targets $500 million for opportunistic credit fund
Shenkman’s opportunistic fund will aim to take advantage of the volatility in the market

Distressed specialists monitor weaknesses in direct lending
Stressed and distressed debt managers might be best served by looking at the direct lending market for opportunities. Sources say that two of the most experienced direct lenders in the business have been forced to deal with problem credits in their portfolios

Danish pension fund eyes niche credit opportunities
PensionDanmark is preparing for more volatility in 2019 by casting its eye towards niche opportunities in the special situations and distressed debt market. The Copenhagen-based pension fund last month merged its alternatives and private debt platforms

Windstream CDS settles higher than expected amid big physical settlement orders
Windstream Services CDS contracts have settled at a final price of 29.5, presenting a big pay-out for holders of protection but not quite as rewarding as bond levels had projected

Debevoise & Plimpton hires three fund partners from Linklaters
Debevoise & Plimpton has strengthened its funds practice with the appointment of three partners in its New York office

Dealers line up to settle Windstream CDS today
Dealers will today hold a credit event auction to settle CDS referencing Windstream Services, with Morgan Stanley added to the list of participating bidders

New Look bankruptcy credit event question put before Determinations Committee
The Credit Derivatives Determinations Committee for the Europe Middle East and Africa (EMEA) region has been asked to rule on whether New Look, the UK based clothes retailer, has triggered a bankruptcy credit event

Californian pension reveals 2019 private credit plan
Ventura County Employees’ Retirement Association is considering committing up to $80 million to private credit funds, following a recommendation of its investment consultant NEPC  

Belgian pension fund appoints JP Morgan to run allocations to alternative investments
Hydralis, the statutory pension manager of Belgium water utility Vivaqua, has appointed JP Morgan to manage the fund’s allocation to unlisted assets for an eight years period, Creditflux has learned.  

GSO makes senior hire to lead distressed trading
GSO Capital Partners has bolstered its distressed trading desk with two hires 

Oaktree's head of European distressed debt to lead expansion in Asia
Oaktree Capital's head of distressed debt for Europe and Asia will relocate to Hong Kong 

US pension backs Vista credit fund
Illinois Municipal Retirement Fund (IMRF) has approved a $50 million commitment to Vista Credit Partners Fund III, according to documents from the March board of trustees meeting  

Restructuring partner rejoins Allen & Overy after buy-side stint
The law firm has bolstered its funds practice in London 

Steinhoff has triggered failure-to-pay credit event, rules DC
Steinhoff Europe has triggered a failure-to-pay credit event, the EMEA Credit Derivatives Determinations Committee has ruled unanimously

Steinhoff Europe failure-to-pay credit event question posed to DC
The EMEA Determinations Committee has been asked to rule on whether Steinhoff Europe has triggered a failure-to-pay credit event, following the retailer’s lock-up period request

US institution eyes credit as part of private equity expansion
University System of New Hampshire (USNH) looks to add credit commitments into its private equity portfolio, as part of the asset class new target allocation.

UBP expands alternatives business with credit Ucits fund
L’Union Bancaire Privée has expanded its alternative investment offering, teaming up with New York-based Global Credit Advisors for the launch 

Former Whitebox duo to tackle distressed debt with new asset manager Invictus
Two former Whitebox employees have teamed up to launch Invictus Global Management

Challenge rejected on cheapest-to-deliver bonds for Windstream CDS auction
The Americas Credit Derivatives Determinations Committee has unanimously rejected a challenge by a market participant against allowing some of the cheapest Windstream bonds to be delivered into an auction to settle CDS referencing the company