Justin Slaughter

The debt fund is one of 38 private funds at the Canadian firm.

Laurie Hacking lead the $20bn pension plan for 11 years. 

The pension’s private credit allocation was $352m by the end of the first quarter.

The firm has raised $2.6bn in new issue CLO since November 2016. 

The Ontario Teachers portfolio company PetVet will refinance existing debt.

The IPO of TCG would raise $171m at the mid-point of pricing expectations.

The Canadian pension plan boosted assets by 16.1% for the year ending 31 March. 

Fixed income accounts for 18.5% of the pension plan’s $3.96bn portfolio, below its 21% target.

The fund, which originates first and second lien secured loans to lower mid-market portfolio companies of private equity sponsors, surpassed its $350m target.

Financial Choice Act could widen gap between firms with low cost of capital and those without.