Justin Slaughter
The JV, which will target retail investors, will start operations next year, with Kamal Bhatia and Mark Jenkins as its co-heads.
The pension plan, which created a specific bucket for credit investments, previously had them in its private equity allocation.
.jpg?id=19327406120 "Apollo to deploy $25bn fund with distressed debt focus")
Apollo chairman and CEO Leon Black is confident his firm can take advantage of opportunities that would result from a recession in the next few years.
The public pension’s global credit allocation cap moved up from 7% to 10% only months after it said it would slow down commitments to private equity.
TPG’s time cap on fund facilities highlights the heated debate on their use.
Borrowers and sponsors are getting more creative in reporting earnings on mezzanine deals, panellists at Pension Bridge conference said.
The new co-COO said the firm has tackled larger debt and equity deals in Asia.
.jpg "CIO at PSP Investments departs")
Daniel Garant left the Canadian pension plan, which has 12% of its assets in private equity, to pursue other career aspirations.
.jpg?id=19327353310 "Oaktree nears purchase of Fifth Street")
The Los Angeles-based firm is said to be tying up the sale as it rolls out its new senior debt fund.
The Canadian pension plan’s private debt, real estate and infrastructure portfolios boosted performance compared with fiscal year 2016.