Minnesota pension set to back Varde Partners Fund XIII
Minnesota State Board of Investment is considering a $150m commitment to Varde Partners Fund XIII, according to a February Investment Advisory Council (IAC) meeting report  

Windstream credit event question posed to Determinations Committee
The Americas Credit Derivatives Determinations Committee has been asked to decide whether Windstream Holdings has triggered a 'failure to pay' credit event, after a court ruled last week the US phone company had defaulted on bonds in 2015 when it span off Uniti Group

Lone Star shines with $8.2 billion final close for debt fund
Lone Star has raised $8.2 billion for the latest iteration of its distressed debt strategy, Lone Star Fund XI

Silver Point brings in $1.57 billion for distressed debt fund
The credit hedge fund manager, founded by ex-Goldman Sachs partners’ Edward Mulé and Robert O’Shea, has locked down $1.57 billion capital for its distressed debt fund 

PG&E bonds on the rise as DC finalises credit event auction deliverables
An auction to settle CDS referencing Pacific Gas and Electric Company CDS will have 37 deliverable obligations, the Americas Credit Determinations Committee has confirmed

San Francisco pension deploys $125 million into private credit
San Francisco City and County Employees' Retirement System has bolstered its private debt bucket, making a $125 million commitment to a senior debt fund and opportunistic credit fund that builds on other private debt investments since last year

Allianz IM puts $200 million into Indian private debt
Allianz Investment Management has committed $200 million into the private debt platform of Edelweiss, an Indian diversified financial services firm.  

Oaktree reports distressed gains over year despite Q4 losses
Oaktree was not immune from challenging fourth quarter globally. Its distressed debt strategy, for instance, returned a gross loss of 1.5%

Marathon adds distressed specialist as credit trader to its New York team
Marathon Asset Management has appointed an experienced credit trader from Cantor Fitzgerald 

New York pension fund allocates $150 million to special situations fund
The new investment will sit within the pension fund’s opportunistic alternatives bucket

Arnold & Porter adds restructuring partner in New York
Arnold & Porter has bolstered its restructuring and bankruptcy practice in New York with the appointment of a former Morrison & Foerster partner

Pacific Gas & Electric CDS set for high recovery as initial obligations trade above 74
Pacific Gas and Electric Company CDS look set for a high recovery, despite a long list of obligations being selected as deliverables into the credit event auction for the defaulted borrower, since eligible bonds are all quoted in the mid-70s or 80s

Washington pension fund set to back TSSP strategy
Washington State Investment Board (WSIB), the $132.2 billion public pension fund, considers committing to TSSP Capital Solutions (TCS), according to documents seen by Creditflux.  

Pacific Gas & Electric triggers bankruptcy credit event
Pacific Gas and Electric Company has triggered a bankruptcy credit event, the Americas Credit Derivatives Determinations Committee has ruled, by 14 votes to one

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

Performing credit tops distressed credit for Blackstone, but credit AUM declines
The firm is looking to boost its direct lending business to gain $10 billion of available capital over the next couple of years

Florida pension fund backs Atalaya distressed strategy
Florida State Board of Administration (SBA) has committed $100m to Atalaya Special Opportunities Fund VII, as part of the Florida Retirement System’s portfolio.  

Pacific Gas & Electric credit event posed following Chapter 11 filing
The Americas Credit Derivatives Determinations Committee has been asked to rule on whether Pacific Gas and Electric has triggered a credit event, after the San Francisco headquartered firm filed for Chapter 11 bankruptcy protection for the second time in its history

$1.8 billion manager Shelton buys credit manager Cedar Ridge
The $1.85 billion multi-asset manager has bought credit-focused firm Cedar Ridge Partners

Virginia pension fund commits to Asian private credit
Virginia Retirement System (VRS) approved a $150 million commitment to the SSG Capital Partners V fund at a January board trustees meeting, a spokesperson has confirmed.  

AnaCap buys €4 billion Italian SME loan portfolio
AnaCap Financial Partners has made its first transaction of its fourth credit opportunities fund 

San Francisco pension plans to deploy $800 million to private credit in 2019
San Francisco Employee’s Retirement System will allocate $800 million to its private credit bucket in the coming year, to reach its 10% target allocation 

Boost for Parker Drilling protection buyers as CDS settles lower than expected
Parker Drilling credit default swaps have settled at a lower value than expected, after physical settlement sell requests drove down the price at auction and increased the windfall for protection buyers

Parker Drilling recovery implied at 45 cents as dealers get set for CDS auction
An auction to settle credit default swaps referencing Parker Drilling will take place today, with bond trading levels of the defaulted company implying a payout to protection buyers of around 45-46 cents on the dollar