Allocation

New Jersey CIO stresses credit underwriting amid retail inflows

The $85bn pension system is scrutinising collateral quality and documentation in private credit funds as it evaluates re-ups and new manager relationships

Manulife I Comvest closes direct lending fund on $5.4bn

The seventh vintage of the North American senior debt fund more than doubled its target

Details of FoxPath’s debut credit secondaries fund disclosed

The firm last year partnered with global life and health insurer Reinsurance Group of America to help capitalise its future funds and build its strategy.

Barings, North Carolina pension manager in $2.1bn partnership

The NCIA is committing capital to the GP’s real estate debt, capital solutions strategies.

CalSTRS and Nuveen strike $2bn strategic partnership for debt fund and ‘adjacent opportunities’

The funds will be used for sustainable opportunities across Nuveen’s energy platform, including its Energy & Power Infrastructure Credit Fund II.

European insurers eye bigger private debt allocations

Sweden’s LF, the Netherlands’ NN Group and UK firms Pension Insurance Corporation and Foresters Friendly Society are exploring new opportunities in illiquid credit.

UK’s L&G mulls 25% rise in large infra debt allocation

The insurer’s head of portfolio management, Roman Hederer, sees more opportunities and value now in the asset class than a few years ago, particularly in Europe.

Amid cautious foray into private credit, WSIB’s consultant confident in timing of program’s launch

Washington heard from its consultant, Albourne Partners, that ramping up a private credit allocation in a stressed market may allow for stronger documentation and higher spreads.

CPP Investments unloads European non-performing loan portfolio

Net proceeds near C$1bn to be redeployed as the market for NPL portfolios changes.

Cambridge Associates eyes credit secondaries, speciality lending

Singapore-based partner Audrey The sees fast growth in the investment advisory firm’s wealthy client base in Asia and a continued rise in new allocations to private credit.