Andrew Hedlund
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The real estate lender’s target exceeds its previous fundraise by more than $300m.
The decision by a $9bn California retirement plan to commit money to Kayne Anderson for credit, real estate and equity is a departure from the norm.
The development comes one year into another Asian distressed venture with Piramal Enterprises.
The $140bn pension fund promoted a handful of existing staff members.
The figures cut across four separate vehicles.
Magnetar's decision to tap Falk, well-known in the private credit world, is especially notable as the firm does not have a dedicated private credit arm.
A distressed debt firm hopes its investment will mean a smooth drive into the Texas sunset.
Competition is fiercer than ever as a growing number of industry veterans set up their own shops or private equity firms diversify with closed-end credit funds.
The two pensions each increased their investment allocations for the strategy by 1%.
The fundraising comes amid a flurry of private equity firms launching credit arms.