Justin Slaughter
The pension plan recently increased its credit allocation to invest in more private debt.
The fund targets a CMBS market facing regulatory pressure and a ‘limited universe’ of B-piece buyers.
The pension plan also axed its opportunistic credit and emerging markets debt allocations.
The fund invests in subordinated debt, direct lending and equity positions.
Should private credit encounter turbulence, it likely will not be from the actions of the US central banks.
A new report from ACC and Dechert paints a bright future and global role for private credit.
The Los Angeles-based firm held positions in ten undisclosed BDCs as of September.
The firm’s special situations investment platform has grown to more than €1bn.
New credit allocations allow pension plan to ‘take advantage of illiquidity premiums’.
.jpg?id=19327353310 "Adams Street adds Ares vet to private credit team")
The Chicago-based asset manager is seeking $750m for its first private debt fund.