Anastasia Donde

Just three years after buying the asset manager from Société Générale, Carlyle Group is talking to potential buyers about selling off TCW, a $185 billion fixed-income manager. 

The California pension fund is doubling its exposure to private credit and establishing new allocations to private equity and value-add real estate. The retirement fund plans to conduct searches next year.

The California retirement system wants to hire a firm to handle both private equity and credit strategies in a separate account format to get up to its 14% target allocation.  

The CPPIB-owned lender, which has big growth plans, intends to raise its loan hold size and ramp up its back office operations.

Having closed its second special situations fund on $3.35bn, the firm now expects the global vehicle to invest more money in the US.  

The Chicago-based firm is aiming for the same target as its previous fund and has so far won a commitment from the Minnesota State Investment Board.

The Pennsylvania pension fund invested in a an array of strategies including debt funds, secondaries and buyout funds.

A court ordered examiner’s report on the Caesars bankruptcy posited that potential damages related to the company’s spin-off of certain valuable assets ahead of the debt restructuring could be in the $3.6 billion to $5.1 billion range.

Franklin Square Capital Partners has teamed up with One Equity Partners to form an operating company that will invest in mid-market private businesses.   

Karl Polen, the head of private markets at the Arizona State Retirement System, will become chief investment officer replacing Gary Dokes.