Staff Writer
The investment manager’s latest product continues the firm’s strategy of lending to US mid-market companies.
The strategy has experienced a spike in fundraising, and market players don’t think that will slow down anytime soon.
The pension fund approved $100m contracts with Benefit Street Partners and Alcentra Limited after a nine-month search.
The pension fund plans to allocate 4% of its portfolio ($490m) to the strategy by 2023.
The credit manager launched Aspida Financial to manage the acquisition of Pavonia Life Insurance Company of Michigan.
The firm is continuing to raise capital for the vehicle, which will invest in upper mid-market companies with at least $75m in EBTIDA.
Canada's recently legalised Cannabis market could be a major opportunity for debt funds looking to diversify.
ESG hasn't always been private debt's strong point, but many in the industry are working hard to address this.
The firm has announced a definitive interest purchase agreement to obtain a majority share of CM Investment Partners.
The vehicle is the most recent in a steady stream of distressed debt products to hold closes on more than $1bn in the past week.