Brett Johnson
California pension with about $4bn AUM looks to enter $100m this year into its new dedicated private credit sleeve after hearing more good news from its first credit GPs.
Staff suggests there is potential for stress in private credit, amid higher default rates and potential for higher PIK.
The board of $7bn California pension challenged its consultant, Aksia, on how its portfolio was preparing for private credit unknowns amid a ramp-up to system’s allocation target.
As the $87bn California pension approves change to remove a cap on manager names in the portfolio, CIO Jonathan Grabel says the system doesn’t have unique concern about credit market.
Staff of the $60bn Arizona State Retirement System, a long-time private credit investor, are still mostly optimistic about the asset class amid a push to diversify the programme.
The co-chair of Oaktree has suggested the $100bn system should chase private credit sub-strategies.
A Washington pension is turning its attention to asset-backed lending, real estate debt and other strategies as it bolsters new private credit programme in $2.3bn portfolio.
After exploring Europe’s credit landscape, the $16bn Californian pension is looking to add a manager targeting an overseas strategy this fall.
Stakes in teams and media rights are not the only way private capital is tackling the sports world.
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