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.jpg "North Yorkshire Pension Fund to make first debt pledge")
Permira and BlueBay are the likely beneficiaries of a £120m commitment split equally between the funds.
Michael Morgenroth, key man on the fund, said it will apply a conservative approach to investing in real estate as it looks to raise €300m.
The European-focused fund has raised around €275m and completed 12 transactions in the last six months.
The firm is attempting to fill the financing gap to the UK mid-market created by overseas banks retreating from the market, a trend that expected to accelerate following Brexit.
The French fund manager has provided €15m to the Dietrich Carebus Group, which is looking to expand its services into sustainable forms of public transportation.
The fund achieved a nominal return of 0.5% in the last financial year and is now looking to invest in private debt as low interest rates begin to bite.
.jpg "Macquarie and PIC back £100m Teeside Plant loan")
The loan, which is CPI-linked and due to reach maturity in 2034, will support the construction of a biomass project in the North East of England.
Debt managers often stress how they can work in harmony with the banks. Recent data, however, shows that banks are recapturing parts of the mid-market lending space and are perhaps responding to what they see as a threat.
The fund targets investments in the Italian NPL real estate market and is aiming to raise between €500m and €750m by October 2017.
Ian Scott joins the pension scheme, which invests in direct lending strategies and other debt instruments, after leading Barclays’ global equities team.