Speciality finance

CalPERS aims to diversify direct lending-heavy portfolio as it ramps credit allocation

Specialty lending and real estate debt were mentioned as areas an interest for the next round of commitments from the $500bn-plus system after adding $18bn this fiscal year

Pimco extends specialty finance fundraising; seeking $5bn

The asset manager is rumoured to be lengthening its fundraising period, having previously outlined an opportunity to help clients diversify their private debt portfolios.

Five alternatives to mid-market direct lending

Direct lending may be the most popular strategy for private debt investors, but heightened competition for deals means lenders are branching out.

APG enters infra debt, eyes move into US impact credit

The Dutch pension manager is also looking for more special situations funds and weighing its approach to US investments, says its head of alternative credit.

The challenge of valuing royalties

Those in the market say royalty-based financing is definitely not ‘repackaged credit market beta’. But how is the alpha achieved?

Fidelis Investors enters the RTL deal pipeline

Launched with Morningstar’s blessing, the firm’s February securitisation has 435 underlying loans.

Blackstone allies with transportation infrastructure firm ITE Management

BXCI makes a minority investment in the alternatives manager.

Bain Capital closes on special sits fund on $5.7bn

The latest fundraise beats its target and brings the second vintage of the strategy to $9bn.

Arena Investors and CC Capital to launch insurance and management platform

The two firms have partnered to create Ceres Life Insurance and integrate it with asset management under Westaim’s corporate roof.

Morgan Stanley raises $2bn for North Haven Tactical Value II Fund

NHTV operates as a special situations fund, occasionally delving into asset-backed finance.