San Francisco pension fund to deploy up to $4.5 billion in private debt
The City and County of San Francisco Employee’s Retirement System has revealed details of its new private debt pacing plan - which will see it deploy up to $4.5 billion and partner with up to 25 private debt managers over the next six years

Pension fund ups commitment to TPG special situations fund by $150 million
Kern County has upped its commitment to TSSP Adjacent Opportunities Contingent Fund, managed by TPG’s special situations platform TPG Sixth Street Partners, 9 May board documents reveal. 

Destra and BlueBay team up to launch credit interval fund
Destra has become the latest manager to launch an interval fund - Destra International & Event-Driven Credit Fund - which will focus on two strategies: multi-strategy international credit  and event driven credit. 

Kirkland brings in Bain lawyer as partner
Global law firm Kirkland & Ellis has added Bain Capital's in-house counsel Ranesh Ramanathan as corporate partner

Atalaya closes $900 million credit fund at its hard cap
Atalaya Capital Management has held a final close for its fourth income fund – Asset Income Fund IV (AIF IV) – at its $900 million hard cap, exceeding its $750 million target size 

Louisiana pension fund commits $75 million to new Oaktree fund
The Teachers Retirement System of Louisiana (TRSL) has made a $75 million commitment to distressed debt manager Oaktree, a spokesperson for the $9.5 billion pension fund confirmed

Sound Point wins $125 million mandate for strategic credit fund
Sound Point Capital Management has won a $125 million mandate for its Strategic Capital Fund, which will provide liquidity solutions to US stressed and distressed companies 

Courage braves credit market to launch new distressed debt fund
Courage Capital Management has launched its fourth credit opportunities fund, according to US SEC filings

Distressed debt specialist closes $727 million credit fund
Balbec Capital has announced the final close of InSolve Global Credit Fund III with $727 million capital commitments

Carlyle and Oppenheimer opt for interval fund structure as part of JV
The new private credit fund will invest at least 80% across loans and structured credit (Including CLOs), opportunistic credit, direct lending and liquid credit, SEC filings reveal

CarVal closes fourth distressed credit fund at $3 billion hard cap
Minneapolis-based CarVal Investors has held a final close for its fourth credit value fund – CVI Credit Value Fund IV (CVF IV), hitting its hard cap with $3 billion capital commitments

New York pension fund signs up to new SVP distressed debt fund
New York State Common Retirement Fund has made a $150 million commitment to distressed debt specialist Strategic Value Partners, board documentations reveal 

SVP closes fourth global special situations fund at its $2.85 billion hard cap
Distressed and special situation specialist Strategic Value Partners has held a final close for its fourth special situations fund, hitting its hard cap with $2.85 billion capital commitments

Oaktree's multi-strategy credit platform reaches $2.9 billion
Los Angeles based Oaktree Capital Management's multi-strategy credit platform – which includes Oaktree Global Credit Fund – has hit $2.89 billion as at 31 March 2018  

New York pension fund allocates $400 million to two private debt funds
New York State Common Retirement Fund has awarded $400 million to two private debt managers: GSO and Vista Equity Partners, Creditflux has learned

GoldenTree, KKR and StepStone earn sub-advisor roles for new interval fund
FS Investments is launching a multi-strategy interval fund and has chosen GoldenTree Asset Management, KKR Credit and StepStone Group to act as sub-advisors

GSO launches new energy fund and picks up $75 million from US pension
The GSO Energy Select Opportunities Fund II is understood to be targeting $5 billion and has already been chosen by a Louisiana pension fund for a $75 million commitment

Credit portfolio manager leaves event-driven fund manager
A credit opportunities portfolio manager has left event-driven investing firm Water Island Capital

GSO raises $7 billion for third stressed/distressed fund
GSO Capital Partners on Thursday announced the final closing of GSO Capital Solutions Fund III at its hard cap of $7 billion

Structured credit investors look beyond US RMBS
Re-remic, re-performing loans, non-performing loans and single family rental securitisations have come into favour as non-agency RMBS issuance dries up

New Mexico investment council approves commitment to Silver Point strategy
Special situations credit firm Silver Point is set to receive $100 million from a US state investment fund for its latest distressed credit stratregy

Distressed credit specialist rakes in $781 million for global debt fund
Balbec Capital's latest global credit fund has a $1 billion target

Goldman drops New Mountain and makes a new hire in subadvisor switch-up
The Goldman Sachs Multi-Manager Alternatives fund has switched up its suite of subadvisors, with New Mountain no longer managing event driven and credit strategies for that fund

Two senior personnel depart Cerberus
A partner and a managing director have left Cerberus Capital Management, with one of them transitioning to an affiliated acquisition company, sources say

Structured credit PM earns promotion as Pimco unveils new managing directors
Structured credit portfolio manager Russell Gannaway is among seven officials to have been promoted to managing director at Pimco