LP round up: managers keep fundraising hopes high as GSO targets $7.5 billion for mezz offering
Institutional investors allocated $1.6 billion into credit this week, according to documents seen by Creditflux

LP round-up: talf and dislocation funds win as pensions allocate $350 million to credit
Investors poured in $350 million to eight credit-focused funds, primarily to credit dislocation funds. Private debt continued to remain stead with investors maintaining or increase allocations 

West coast pension looks to step up direct lending allocations
The City of Fresno Retirement System will commit $140-160 million to private credit for the next two years, according to board documentation seen by Creditflux. This comes amid a pause in direct lending commitments for the pension fund, which has not committed any capital to this market in 2019

Garrison BDC needs to liquidate, argues shareholder Clear Harbor
In a letter delivered to the board on Thursday, Clear Harbor emphasised several concerns and demanded a new independent investment advisor with liquidation expertise 

Repo market bumps heads with credit to suffer SOFR doubts
The reliability of the Secured Overnight Financing Rate (SOFR) was called into question last month when it spiked to a level more than double its usual value. 

Crescent BDC buys Alcentra BDC in $141.9 million transaction
As part of the deal, the combined business development company will go public and charge lower management fees

Los Angeles pension appoints four managers for private credit mandate
Los Angeles City Employees Retirement System (Lacers) has awarded four contracts for a $670 million private credit mandate search, according to minutes from the July investment committee meeting.  

US pension replaces Cliffwater with Meketa
Connecticut Retirement Plans and Trust Funds has selected Meketa as a consultant to oversee its opportunistic investments, which consists of direct lending and opportunistic credit investments, along with investments in hedge funds and real assets.  

Los Angeles pension fund narrows down global direct lending search to four managers
Los Angeles City Employees Retirement System (Lacers) has listed the finalists for a private credit mandate, according to an agenda document seen by Creditflux.  

Cliffwater raises $135 million for interval fund geared towards direct lending
Cliffwater has raised $135 million for an interval fund through which it will allocate to five sub-advisors

Crescent targets $1 billion for US unitranche fund
Crescent Capital has held a first close for its Crescent Private Credit Partners Unitranche Fund

Direct lenders split over best way to manage loan restructuring
Direct lenders are divided on how best to set up internally when dealing with loans that require restructuring. Some managers argue that a deal should be restructured via the original deal team

Crescent lands in US direct lending for second time with $1.6 billion fund
Crescent Capital exceeded its $1 billion target size, hitting $1.6 billion for its second US direct lending fund

Crescent hires former NewStar official as managing director
Crescent Capital Group has appointed NewStar Financial's former capital markets head as a managing director, the firm has announced

Antares and Crescent win as Texas pension fund commits to direct lending
The sky is the limit for direct lenders, with Texas County and District Retirement System committing $253 million to that market

West coast manager raises $600 million for upcoming direct lending fund
Los Angeles-based Crescent Capital has launched a new direct lending product known as Crescent Direct Lending Fund II, which comes in both levered and unlevered forms and appears to have a $1 billion fundraising target

Fundraising specialist joins Antares in Chicago
Antares Capital has announced that Greg Lawton has joined its team as a managing director in a capital-raising role

Texas pension fund stocks up on direct lending with $675 million allocation
A US pension fund is clearly a big fan of direct lending strategies having hired two managers. It has now committed $1.2 billion to direct lenders this year