Direct line: How to do business with CalSTRS

The $240bn pension aims to be the ‘partner of choice’ for managers, operating companies and its peers in direct structures. Deputy CIO Scott Chan tells Kyle Campbell how CalSTRS’ ‘collaborative model’ is the blueprint to achieve these goals

Why LPs are on their guard

It’s a time to be alive to questionable claims as well as the requirements of a changing market, according to investors at the PDI New York Forum.
John Graham CPPIB

CPPIB’s new Asia perspectives

The Canadian pension has scaled up its credit operations in North America and Europe and is turning to China and India. John Graham, global head of credit investments, explains the strategy to Andy Thomson. Additional reporting by John Bakie and Andrew Hedlund

3 takeaways for GPs from the PDI New York Forum

LPs and bankers had some advice for GPs on competitive differentiators, workout processes and predictions of private debt performance.

A 5.5x EBITDA loan? Sure, you can call it senior secured

Unitranche has found favour post-GFC as a result of its simplicity. But investors should make sure not to ignore it goes much deeper in the capital structure than traditional first lien senior secured debt.
Alain Carrier

The Canadian LP view of global private markets

PDI reports key takeaways from three Canadian pension funds – CPPIB, OMERS, and PSP – at the Asia Summit in Singapore hosted by Milken Institute last week.

The changing focus of European private debt

A recent roundtable revealed managers have new strategic priorities and different sources of capital to target.

Planned Alameda County emerging managers programme shuts out credit – updated

The reconfiguration defines an emerging manager as a GP on its first or second fund and has less than $5bn in AUM.

Partners Group backs TA Associates’ Asian LBO

With the latest deal, the Switzerland-headquartered global private market investment manager has made more than $600m in loans across Asia-Pacific.
golden egg in a nest

Amundi and BlackRock selected for £500m Nest private credit mandate

Nest is targeting 5% of its £8bn in assets for private debt investments as it takes it first steps into private markets.

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