Staff Writer
The firm has taken a 20% stake in Singular, which has previously helped it raise more than $750m across eight vehicles.
The mid-market investment manager has launched four new products across its senior debt and opportunistic credit strategies.
Portfolio managers continue to draw out predictions about default rates, according to a recent report by S&P Global Intelligence.
The investment manager’s latest product continues the firm’s strategy of lending to US mid-market companies.
The strategy has experienced a spike in fundraising, and market players don’t think that will slow down anytime soon.
The pension fund approved $100m contracts with Benefit Street Partners and Alcentra Limited after a nine-month search.
The pension fund plans to allocate 4% of its portfolio ($490m) to the strategy by 2023.
The credit manager launched Aspida Financial to manage the acquisition of Pavonia Life Insurance Company of Michigan.
The firm is continuing to raise capital for the vehicle, which will invest in upper mid-market companies with at least $75m in EBTIDA.
Canada's recently legalised Cannabis market could be a major opportunity for debt funds looking to diversify.