Anastasia Donde

Managing directors Lee Stern and Aaron Peck, as well as vice president Kyle Asher, will lead the firm’s new sector specialty.  

The Midwestern pension fund heard presentations from two other direct lending managers and plans to interview five for its opportunistic credit search. The retirement fund has also hired a new CIO.  

The Chicago-based firm is aiming for the same target as its previous fund and has so far won a commitment from the Minnesota State Investment Board.  

The California pension fund has established a first-time private credit allocation following a recommendation from its consultant, Verus.  

Anchorage Capital’s Illiquid Opportunities V fund is seeking $1.25bn overall and expects to close by the end of March.  

Cowen Group has inked an agreement to acquire CRT Group’s credit products, research, special situations and emerging markets units.  

The new private debt firm has hired several senior managers from the ranks of Goldman Sachs & Co., TPG, CPPIB and EnTrust Capital.  

The California pension fund, which has invested with Ares Management in a variety of strategies over the years, sees improving opportunities arising from the locked-up structure and widening spreads over the next credit cycle.  

Kristen Campana will work out of the law firm’s New York office and joins from Bracewell & Giuliani.  

The firm confirmed its president Larry Schloss was leaving the firm in a letter to staff and has no plans to replace him.