Andrew Hedlund
The New York-based firm also invests in the strategy through its $900m Atalaya Asset Income Fund IV.
Private equity firms taking non-control stakes in other such firms is booming, but the off-ramps for such deals remain mostly theoretical.
The pension fund has awarded several GPs master custody accounts that follow credit strategies.
The buyer will contribute its incentive fees until the net investment income hits $0.40 per share.
No fundraising target for a debut fund has been set yet, but it will be in the billions of dollars.
The firm has also held large closes on junior debt and real estate debt funds, leading it to finish at the top of our annual fundraising ranking for the first time.
The Chicago-based firm is in the midst of raising a fund that has already met its $2bn target.
The firm also recently closed a $600m vehicle that finances late-stage private equity-style funds.
While the same big players continue to dominate the list of the largest BDCs, new legislation could shake up future rankings.
While the merger of the publicly traded vehicles is set to be completed, the combination of their non-traded BDCs has been put on hold amid low stock-trading prices.