Justin Slaughter
The GBDC portfolio’s total value stood at $1.8bn as of 30 June.
The Los Angeles firm originated a total of $267m of investments in Q2.
The Palo Alto, California-based BDC’s portfolio had an effective yield of 14.9% in Q2.
.jpg?id=19327406120 "Apollo BDC trims energy positions, ups first lien exposure")
The firm initiated the plan last year to lower the risk profile of its portfolio.
The Cornhusker State pension fund’s total assets hit nearly $25bn with returns of 4.61% in the first quarter.
Cesar Gueikian joins the firm to lead the new strategy and manage its opportunistic credit fund.
US pensions should avoid riskier debt as the private credit competition heats up and prices drop, says David Scudellari at PSP Investments.
Michael Tamasco will lead the debt fund, which targets senior and subordinated debt in the US and Europe.
The asset manager’s credit platform grew to $151bn and showed a gross IRR of 2.1% in the second quarter.
The public pension’s global credit allocation cap moved up from 7% to 10%.