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Private credit managers supersizing their loans


Private credit managers supersizing their loans
Firms flush with capital becoming major players for corporate lending
James Zelter said the shift in lending has been accelerating.
The heftiest alternative investment managers have amassed enough capital in their credit businesses to make big loans for some of the largest corporations.
In 2020, the largest credit managers accounted for a big swath of the capital raised worldwide, according to a February Preqin report. The 10 largest private credit funds accounted for 39% of the total capital raised in 2020, up from 31% in 2019. And mega loans have been accounting for a greater percentage of total transaction volume over the past few years. ....

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Indiana places $122 million in 2 alts strategies


Indiana places $122 million in 2 alts strategies
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Indiana Public Retirement System, Indianapolis, committed a total of $122 million to two alternative investment strategies run by existing managers in October from the system s $32 billion defined benefit plan.
The largest commitment was an additional $100 million from the DB plan s $4 billion private markets portfolio to HPS Brickyard Direct Lending Fund, a separately managed account, said investment officers in a report for the system s Board of Trustees meeting conducted remotely Friday.
INPRS initially invested $100 million on June 1, 2018, in the account, managed by
HPS Investment Partners. The account targeted equal investment in the HPS Specialty Loan Fund 2016 and HPS Core Senior Lending Fund. ....

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