September: credit funds at a glance
White Oak Global Advisors held a $2.1 billion final close on a new direct lending fund, while Phil Raciti's move from CVC Credit Partners to Halcyon Capital Management was one of the biggest moves in the credit industry

Lord Abbett markets new credit interval fund
The asset manager becomes the latest to join the interval fund rush 

CIFC hires team of four for distressed credit push
CIFC, a manager specialising in US corporate and structured credit, is building out its distressed debt capabilities with four senior hires in anticipation of a maturing credit cycle

BTIG brings in high yield and distressed sales specialist
BTIG has strengthened its credit team with the appointment of a managing director focused on high yield and distressed sales

HPS expands in distressed debt by taking over Dallas-based Tålamod
HPS Investment Partners has struck a deal to bring on board the investment team from Dallas-based distressed debt specialist Tålamod Asset Management

Goodhart unveils new platform to invest in private debt and equity firms
London-based Goodhart Partners has launched a new platform to focus on strategic minority investments, predominantly in private debt and private equity firms.

Louisiana pension fund to increase exposure to private debt
The $21 billion pension fund plans to add new commitments to its private debt program in a bid to match its 8% target allocation

American Beacon teams up with Apollo for credit interval fund
Regulatory filings reveal that Apollo will allocate assets across four main areas: US corporate credit, global corporate credit, structured credit and real estate credit

Pimco adds two former Tennenbaum officials as portfolio managers
Fixed income specialist Pimco has poached former Tennenbaum Capital Partner officials Geoffrey Jones and Gabriel Goldstein

Texas pension awards $175 million to distressed debt and strategic credit
The $30.1 billion Texas pension fund has mandated $175 million to Arbour Lane and Marblegate 

Four private credit managers score as Arizona pension fund commits $250 million
The $9.78 billion pension fund has mandated nearly $250 million to four private credit managers, alongside additional commitments for co-investment opportunities 

Louisiana pension fund assigns $200 million to DoubleLine and GoldenTree
Louisiana State Employees' Retirement System has allocated to distressed debt and mortgage credit funds run by two experienced asset managers

Distressed debt outperforms as Texas pension fund's credit strategies gain 11.2%
Texas County and District Retirement System (TCDRS), the $30 billion pension fund, generated 11.2% annualised returns from its credit portfolio for the year ending 30 June. Distressed debt was a major positive, but IG credit lost value

Californian pension fund moves $35 million into distressed debt
Sacramento County Employees' Retirement System has made a $35 million commitment to a distressed fund TPG Sixth Street Partners 

US pension fund's credit performance stumbles with 2.3% 12-month return
Maryland State and Retirement & Pension System, the $51.9 billion public pension fund, generated 2.31% returns from its credit portfolio for the fiscal year to June 30, down from 10% the year before

Oaktree raises new special situations fund while CIO warns of direct lending risk
Oaktree Capital Management has released its second quarter 2018 results in which the Los Angeles-based firm reported $2.4 billion of new capital commitments in the quarter

Californian pension fund assigns $25 million to Monroe direct lending strategy
As part of its private credit pacing plan, the $5.4 billion pension fund will make a $75 million commitment to direct lending funds each year for the next three years

GSO managing director set to join Platinum to build new credit unit
Platinum Equity has appointed Michael Fabiano to build out a new credit unit to complement the firm’s existing equity platform. He will join in January 2019 and will be based in New York

Texas pension fund earmarks $650 million to four private debt funds
Angelo Gordon, HIG Whitehorse and Värde have secured commitments from the Texas pension fund for their direct lending funds

Pacific Current acquires stake in Chicago-based private debt manager
Sydney-headquartered Pacific Current Group has acquired a 24.9% stake in Chicago-based Victory Park Capital

Aircraft lessors: gathering clouds lead to talk of turbulence
Aircraft leasing companies have been cruising over the past two years as passenger numbers grew, but rising interest rates and trade tariff concerns are making some bondholders nervous

BlackRock seeks $1 billion for new multi-strat opportunities fund
The new trust will invest at least 80% of its assets in fixed income securities and up to 40% in special situations, SEC filings reveal 

Michigan pension fund looks to commit $80 million to debt funds
The $114 billion Michigan pension fund is looking to commit to two private debt funds managed by London-based Kreos Capital and New-York headquartered MidOcean Credit Partners

Pennsylvania pension awards $50 million to distressed debt fund
The $27.5 billion Pennsylvania pension fund has made a further $50 million commitment to TPG Sixth Street Partners 

Invesco raises $150 million for distressed debt fund
The vehicle, which has a $500 million target size, has raised a total of $146.18 million capital commitments, according to SEC filings